Question

The liability of a Karta in a Joint Hindu family firm is limited. (State with reason whether the given statement is true or false)

Answer 1

The liability of Karta is unlimited whereas liability of alls other members of Joint Hindu Family Business is limited up to there share in the business.

Answer 2

Answer: False

According to the Joint Hindu Family type of business, Karta is the male member who is the most senior by age.

He is held responsible for all the accounts and management of the firm.

Thus, his decision is considered final in all matters and business debts.

He can give the share to anyone of his family.