what is the basis of membership in the joint Hindu family business?
Answers
Explanation:
The answer given by sheena is correct. The basis of membership in a Joint Hindu Undivided Family is birth in that particular family and three successive generation can be members in the business of Joint Hindu Undivided Family.
Answer:
Explanation:
Unlike partnership, there is no such limit to the membership of the Joint Hindu Family Firm. However, it is restricted to the three successive generations in the male line.
The membership of Joint Hindu Family Business is restricted only to members of the family. Members of the family are called 'co-parceners'. Before 1956, female members of the family were not having equal rights with male members but the Hindu Succession Act, 1956, has its provisions for female members also. The business is controlled by head of the family called as 'Karta'. Karta and co-parceners are usually male members.
The basis of membership in a Joint Hindu Undivided Family is birth in that particular family and three successive generation can be members in the business of Joint Hindu Undivided Family.