Question

Write any 3 features of HUF.

Answer 1

Features of HUF:

1. Governed by Hindu Law: The business of the Joint Hindu Family is controlled and managed under Hindu law.
2. Membership by Birth: The membership of the family can be acquired only by birth. As soon as a male child is born in the family, that child becomes a member.
3. Liability: Except for the Karta, the liability of all other members is limited to their shares in the business.