Maharashtra State BoardHSC Commerce 12th Board Exam
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Explain the Features of a Joint Hindu Family Firm. - Organisation of Commerce and Management

Explain the features of a joint Hindu family firm.

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Features :
1. Formation : It is formed as per the Hindu law. Each member becomes coparcener by birth .
2. Karta and coparcener : The senior most member of joint Hindu Family becomes karta and other members
3. Membership : The membership of Joint Hindu Family firm is unlimited
4. Management : Karta is only manager, controller and co-ordinator of the business managing it in the interest
of coparceners.
5. Joint ownership : The property of Joint Hindu Business is jointly owned by the three generations after him.

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