Question

what are the feautres of hindu undivided family?

Answer 1

1) Hindu undivided family is a unique type of business entity.
2). It is governed and dictated by the Hindu Law
3). The formation of hindu undivided family does not need documentation and admission of any new members
4). The eldest member of the family is the head of HUF, called “Karta”
5). At the death of karta, the next eldest member will become the karta
6).karta control all the liabilities

Answer 2

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The joint hiindu family business refers to a business which is owned and managed by the members of joint hindu family. It is also known as Hindu undivided family business. It is governed by Hindu Succession Act.

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The features of Hindu undivided family business are as follows :-

•Management :- The management of Hindu family business is rested in $karta$. The $Karta$ may, however, associate other members to assist him in the management of family business.

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•Liability :- The liability of the $Karta$ is unlimited. The liability of other members is limited.

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•Right to Accounts :- Coparceners are not entitled to inspect the accounts of the business. However, a coparcener who is leaving the family business notify that they are not members of the joint Hindu family.

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