Question

Features of joint Hindu family business in short

Answer 1

Some prominent features of the joint Hindu family business are:

# The business cannot be established using any form of agreement or contract as it is operated on the basis of Hindu Law.

# There is no mandatory requirement for this business to be registered.

# The male head of the family called Kartha is solely responsible for managing the business. He can take any decision with or without the advice of other members called co-parceners.

# All members in the business have equal rights to share the profits of the business, and are also liable to share the losses.