Question

4) what is the meant by Hindu undivided family?​

Answer 1

Question

• what is the meant by Hindu undivided family?

Answer

• Hindu Undivided Family (HUF)

1. Under Hindu Law, an HUF is a family which consists of all persons lineally descended from a common ancestor and includes their wives and unmarried daughters. .
2. Jain and Sikh families even though are not governed by the Hindu Law, but they are treated as HUF under the Act.

Answer 2

Answer:

Hindhu Undivided Family refers to a form of organisation wherein the business is owned and carried on by the members of the Hindhu Undivided Family.

Explanation:

Joint Hindhu Family Business :

It is a specific form of business organisation found only in india. It is one of the oldest forms of business organisation. It is carried on by the members of The Hindhu Undivided Family. It is governed by the Hindu Law.

Features of Joint Hindhu Family Business :

• Formation

• Liability

• Control

• Continuity

• Minor Members

• Loyalty and Co-operation

• Limited liability of members

Merits of Joint Hindhu Family Business :

• Effective control

• Continued Business existence

• Limited liability of members

• Increased Loyalty and co-operation

Demerits of Joint Hindhu Family Business :

• Limited Resources

• Unlimited Liability of Kartha

• Dominance of Kartha

• Limited Managerial skills

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