it refers to a business which is owned by the male members of the family. it exists under the Hindu law and is governed by the law of succession.
here, the family possess some inherited prperty.
joint hindu family business is a specific form of business organisation found only in India. It is one of the oldest forms of business organisation in the country. It refers to a form of organisation wherein the business is owned and carried on by the members of the Hindu Undivided Family (HUF).
It is governed by the Hindu Law .
A joint Hindu family business is one that is owned by all the males in the family. There have been several questionnaires which aim to find out the role of the joint family in Hindu businesses and relationships.
A detailed study of a Joint Hindu Family Business would reveal that the estate of the business is indivisible. This type of business structure is formed by traditional Hindu culture and law and cannot be bound by contract.
TAtA & sONS
it refers to a business which is owned by the male members of the family. it exists under the Hindu law and is governed by the law of succession. here, the family possess some inherited prperty.
one has to prove the nucleus of joint family and creation of properties during jointness of hindu family
This is a business that is owned by two partners in an undivided estate. Traditionally this would be a business that had grandfather, father, and then son all working together.
1. formation 2. liability 3. control 4. continuity 5. minor members
a joint hindu family will be helpful in passing on the values, culture and traditions to the younger generations. It is also helpful in times of crisis when everyone act as support pillar for eachuther.
A joing Hindu family is a common way of living on the Indian subcontinent in which many generations of the same family live under one roof.
The objectives of huf are the same as business objectives: 1. Profit maximization 2. Effective running of family business 3. Without sharing the family business to external parties and using the family business profit for the well being of the particular family 4. All the members got the opportunity to conduct the business activity 5. All decision are taken by the most senior male member, so speedy decision making is possible.
The objectives of huf are the same as business objectives: 1. Profit maximization 2. Effective running of family business 3. Without sharing the family business to external parties and using the family business profit for the well being of the particular family 4. All the members got the opportunity to conduct the business activity 5. All decision are taken by the most senior male member, so speedy decision making is possible.
Born into a Hindu khatri business family of jalandhar (Punjab,India)