The members of hindu undivided family business are called
Answers
Explanation:
The family who runs or carry on the business organization. Hindu Undivided Family includes an eldest male member 'Karta' and the other male members called co-parceners.
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Answer:
The family who runs or carry on the business organization. Hindu Undivided Family includes an eldest male member 'Karta' and the other male members called co-parceners.The term 'Hindu Undivided Family' has not been defined under the Income Tax Act. It is defined under the Hindu Law as a family that consists of all persons lineally descended from a common ancestor, including wives and unmarried daughters.
Features of a HUF
Formation: To begin a Hindu Undivided Family there must be a minimum of two related family members. ...
Liability: The liability of all the various co-parceners is only up to their share of the property or business. ...
Control: The entire control of the entity lies with the Karta.