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Define a Joint Hindu family firm. Explain features of joint Hindu family firm. |
| Answer» FAMILY or UNDIVIDED family is an extended family arrangement prevalent throughout the Indian subcontinent, particularly in INDIA, consisting of many generations living in the same household, all bound by the common relationship.The main characteristics of Joint Hindu Family Business are given below:Governed by Hindu LawManagementMembership by BirthLiabilityPermanent ExistenceImplied Authority of KartaMinor ALSO a PartnerDissolutionI hope it is HELPFUL for you | |