Maharashtra State BoardHSC Commerce 12th Board Exam
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Define 'Joint Hindu Family'. - Organisation of Commerce and Management

Definition

Define 'Joint Hindu family'.

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Solution

Definition :
A Joint Hindu Family Business is a family concern that operate under the provisions of the Hindu Law and Hindu
Succession Act 1956. It may be defined as a business organisation which is inherited or owned, conducted and
managed by the members of a Hindu undivided family pointly under the direction and control of the senior most
member of the family called karta for earning profits.

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