Write short notes on Joint hindu family business
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■JOINT HINDU FAMILY BUSINESS:
☆ It is formed by Hindu law as the name itself says hindu hence,it is only formed by hindu families...
☆It is managed by the head of the family known as Karta.
☆He has unlimited liability...
☆It refers to that business organisation under which all members of joint Hindu family carry a business under the control of Mukhiya or Karta of the family ...
☆It is easy to start because there's no need to complete any legal formality 4 its establishment...
Hope it helps ☺⚡✌
Here's ur answer
■JOINT HINDU FAMILY BUSINESS:
☆ It is formed by Hindu law as the name itself says hindu hence,it is only formed by hindu families...
☆It is managed by the head of the family known as Karta.
☆He has unlimited liability...
☆It refers to that business organisation under which all members of joint Hindu family carry a business under the control of Mukhiya or Karta of the family ...
☆It is easy to start because there's no need to complete any legal formality 4 its establishment...
Hope it helps ☺⚡✌
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Answer:
It's is family business they are commonly called as HUF
The only members of the family can only own and manage the business . it is governed bye Hindu law.
Karta who is head of the family , authorised to do business in behalf of the HUF. There are two system includes in HUF - Dayabhaga and Mitakash system
Dayabhaga Is the system allow both males and females of tha family as a Co parcenees
Mitaksha is the system allow only males as a Co parcenees
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