Are there tax benefits to forming an HUF?

The Hindu Undivided Family (HUF), as the name suggests, comprises a family whose members have lineally descended from a common ancestor, and also includes wives and unmarried daughters. It can be formed by a married person whether he is a Hindu, Jain or Sikh. The head of an HUF is called the karta and members are called coparceners. Before 2005, only male members were considered coparceners and females were called members with no rights to demand a partition or receive an equal share of its assets However, the Hindu Succession (Amendment) Act 2005 gave women the right to be coparceners. Why does one need to form an HUF? Since the entity enjoys tax incentives separate from