Question

The maximum number of members in a Joint Hindu family firm is 20. (State with reason whether the given statement is true or false)

Answer 1

This statement is False.


i. In Joint Hindu Family, all members born in the family become member of the family by birth and ceases to be a member by death. It is governed by the Hindu Succession Act, 1956.



ii. Thus, there is no specific number of members in a Joint Hindu Family business. 

Answer 2

Answer: False

According to the Joint Hindu Family type of business, all the males of the family who are born in the family can be a member.

Thus, there is no upper limit for the total number of members in the business.

The liability for them is unlimited.

They can ask for their share being a member of the family and the business.