Write the features of Joint Hindu Family Business

cbse
formsofbusiness

#1

1.Formation : At least two members and ancestral property to be inherited by them is the basic requirement. An individual becomes a member by birth; therefore, no agreement is required.
2.Liability : The liability of Karta is unlimited while that of the other members is limited to the extent of their share.
3.Control : Karta has full control over the family business. All business decisions are taken by him only and are binding on the other members.