define joint hindu family business
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Meaning: Joint Hindu Family Business is a different type of organization, which is found only in India. As the name suggests, it is type of organization in which all the members of Hindu Undivided Family manage and control the business with the direction of head of the family. It is not a Partnership.
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A Joint Hindu Family business is a family concern with operates under the provision of the Hindu Law and Hindu succession , Act 1956. ... It is governed by the Hindu Succession Act, 1956. In Joint Hindu Family business, authority of controlling the business lies in the hands of the 'Karta'.
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