Question

Aims and objectives of joint Hindu family firm

Answer 1

Joint Hindu Family is a type of business organisation .

It is ruled by the Hindu Succession Act 1956.

requirements : 1 ) Minimum 2 male members in the family

                        2 ) presence of ancestral property

features : 1 . Easy to form , as registration is not compulsory

                2.  Karta has unlimited liability , while the coparceners have limited

                3.  Karta has absolute control and takes all decisions

                4 . membership is by birth only