What you mean by hindu undived family business? Describe its merits and demerits
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The HUF business does not require any agreement or documentation as membership is by birth. It is governed by the Hindu Succession Act, 1956. Liability: The liability of all members except the karta is limited to their share of the co-coparcenary property of the business. Thus their liability is limited.
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Answered by
1
Answer:
The HUF business does not require any agreement or documentation as membership is by birth. It is governed by the Hindu Succession Act, 1956. Liability: The liability of all members except the karta is limited to their share of the co-coparcenary property of the business. Thus their liability is limited
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