why is Hindu undivided family
Answers
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.
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The joint Hindu family business refers to a business which is owned and managed by the members of a joint Hindu family it is also known as Hindu undivided family business it is governed by Hindu Succession act the form of business is created by law of success in the joint Hindu family form of business is one of in which the family possesses some inherited property the share of ancestral property is inherited by a male member from his father grandfather and great grandfather does there successive generation can simultaneously in hurt the central property all the male members having a share in the family property are known as comparcener sense and the oldest member is called karta.
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