Explain the following terms/concept Joint Hindu Family Firm.
Explain the following terms/concept
Joint Hindu Family Firm.
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1. It is a form of business organization which is carried from one generation to another generation.
2. It comes into existence by operation of Hindu Law.
3. This form of organization is found in India only.
4. The seniormost member of the family is called ‘Karta’ while other members are called ‘Co-parceners’.
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