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Question
Explain the following term/concept:
Joint Hindu Family Firm.
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Solution
- It is a form of business organization which is carried from one generation to another generation.
- It comes into existence by the operation of Hindu Law.
- This form organization is found in India only.
- The senior most member of the family is called ‘Karta’ while other members are called ‘Co-parceners’.
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RELATED QUESTIONS
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Explain the following term/concept:
Karta.
Study the following case situation and express your opinion:
Mr. Raghunath is running a business from the last 30 years. This business is ancestoral business of Mr. Raghunath. Kiran and Naman, two sons of Mr. Raghunath are helping him along with their wives.
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Karta is the sole manager of ‘Joint Hindu Family Business’.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
Give one word/phrase/term.
The members of the Joint Hindu Family firm.
The members of the Joint Hindu Family firm.
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The members of the Joint Hindu Family firm.
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The members of the Joint Hindu Family firm.
Who manages and leads the Joint Hindu Family Business?
How is membership in a Hindu Undivided Family acquired?
Which feature of JHFB is illustrated by the infographic showing “Joint Ownership” by Karta and coparceners?
