JOINT HINDU FAMILY AN AFFECTIONATE BUSINESS PDF

8 Nov Introduction joint Hindu family affection business and target pdf project on joint hindu family an affectionate business,Ask Latest. 6 Aug 1 to earn maximize profits 2 to effectively running of family business 3 to save tax 4 to get the opportunity to all the members to conduct the business activity 5 to. The Joint Hindu Family Business is a distinct form of organisation peculiar to India. In Joint Hindu Family Business, it is the natural love and affection which the.

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The Karta or manager works in consultation with other members of the family but ultimately he has a final say. In other words, if Karta dies or hinvu incapable of managing the business then the succeeding co-parceners joint hindu family an affectionate business act as Karta. The members of the family have full faith and confidence in Karta. Other with issues like automobiles at home, electric equipment such as mobile, mixer, TV, ac,…. The authenticity of this information cannot be taken seriously and thus keeping that in mind most of that data might be true or fake.

Lastly, I thank Almighty, my parents, family members, friends and teachers for their constant encouragement and support without which this project would not be possible. The Karta can expand or change the line of business or he can even close down the business.

It comes into existence by the operation of Hindu law. According to Hindu Succession Act,all the members of Hindu Undivided Family have equal rights to share the profits as well as losses of the business. He works in consultation with other members of the family but ultimately he has a final say. This type of business enjoys greater credit in the market especially because of unlimited liability on Karta. He had the authority to sell or mortgages the property of Joint Hindu Family while conducting the business of the firm.

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Meaning of Joint Hindu Family Business 2. The Karta is not only liable to the extent of his share in the business but his separate property is equally attachable and amount of debt can be recovered from his separate property.

No other member interferes in his management. There are two types of Joint Hindu Family Businesses.

Joint Hindu Family Business: Meaning, Characteristics and Advantages

The business secrets are known to co-parceners in general and Karta in particular. He also gets liberal financial facilities from banks and others. The membership of Joint Hindu Family Business is restricted only to members of the family.

The Karta is the senior most male member of the family. He is fully responsible for business risk, his liability is unlimited. Membership requires no consent or agreement. We will call you right away. It is the raw form of data and thoroughly studied and hence a helpful tool for secondary data.

The Joint Hindu Family Business can be dissolved only at the will of all the members of the family. This system exists in India except for West Bengal and Assam. The Karta cannot take the advantage of economies of large size due to limited finance. The family goes on doing its business. It comes into existence by the operation of Hindu law. The problems in the family can be easily solved in case of a joint family.

In other words, if Karta dies or becomes incapable of managing the business then the succeeding co-parceners will act as Karta. In a partnership, minor cannot become co-partner though he may be admitted to the benefit of partnership.

Joint Hindu Family Business: Meaning, Characteristics and Advantages

The Karta has fzmily carry on the business with care, he has to protect the interest of the members, he cannot make secret profits. It is one of the best thing that could ever happen, that healthy and joyous atmosphere keeps everyone fresh and active. This ensures prompt or quick decisions. Notify me hundu follow-up comments by email. Joint Hindu Family Business, though is an enlarged form of sole trading concern it enjoys stability. The death, lunacy or insolvency of any member of the family does not affect the existence of the business of Joint Hindu Family.

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It is not obligatory for them to publish their accounts which results in a great deal of privacy and secrecy. But, as per Hindu Law any member who is unsatisfied with the decision of Karta can demand partition. There are two types of Joint Hindu Family Businesses. It helps to run the business more efficiently and smoothly. Because the joint family has the old members who are well experienced to run a family and active earning group of people and their children.

There are no ego issues. Joint Hindu Family Business is a different type of organization, which is found only in India.

Literature Review — This section will himdu what all you have read about your project. In this business, Karta takes all decisions and gets them implemented with the help of other member.

All can adjust and go running a good joint family. Nawaf February 28, Organization of Commerce 1 Comment. It is not a Partnership.

Only Karta is entitled to deal with outsiders. Leave a Reply Cancel reply Your email address will not be published.