Offering information related to joint hindu family business, including its features, advantages and disadvantages. The kerala joint hindu family system (abolition) act, 1975 (act xxx of 1976 as amended by act xv of 1978) an act to abolish the joint family system among hindus in the state of kerala. Hindu joint family not equal to hindu undivided family edit the two concepts are legally distinct, in the sense that a huf as a concept is used primarily for assessment of income tax and wealth tax while the hindu joint family is a concept defined under the personal laws (marital laws, succession, adoption etc) of hindus in india. A family when lives together with all family members up to 2nd generation like grand parents, parents, uncle, aunts and their children is called a joint family the importance of joint family is understood by the indians since time immemorial.
Joint hindu family business refers to a form of organisation owned and carried on by the members of the hindu undivided family (huf. Joint hindu family business is a form of commercial organization where a business is owned by the members of a hindu family living jointly when the business continues from one generation to another in a hindu family it becomes a joint hindu family business it is a business where a person becomes a. Family structure historically, for generations india had a prevailing tradition of the joint hindu family or undivided family the system is an extended family arrangement prevalent throughout the indian subcontinent, particularly in india, consisting of many generations living in the same home, all bound by the common relationship.
The joint hindu family business is a family business involves only the members of the family meaning: joint hindu family business is a different type of organization, which is found only in india as the name suggests, it is the type of organization in which all the members of hindu undivided family manage and control the business with the. Joint hindu family business in hindu religion, joint family business, a particular form of business organization found only in india which is considered as one of the oldest form of business organization in the country. Cec/ugc: social science - 4, law, legal studies, human rights and related subjects(manage by emrc, punjab university, patiala.
The joint family system in india has been very much influenced by the new social legislations consisting of the civil marriage act (1872), hindu marriage act, (1955), and hindu succession act (1956) the civil marriage act enabled the adult boys and girls to marry against the wishes of their parents. Joint hindu family an affectionate business project archived file individualizing, and documenting client care - free ebook download as pdf filepdf, text. A hindu undivided family is a family which has a common male ancestor who holds a joint family property and not been subjected to partition components all the male members are a part of it either by virtue of birth or by adoption. Concept of karta in hindu joint family 1 in a hindu joint family the karta or manager occupies a pivotal and unique place in that there is no comparable office.
This animation introduces the learner to various features of a joint hindu family, merits and limitations of the same this is a product of mexus education p. The joint family has, over the years, been instrumental in providing protection to members, recreation, economic support and socialism in wealth it has also helped the members in the development of good qualities as a significant institution, it has brought about the well being of its members. Right of hindu women in undivided property in a hindu joint family governed by mitakshara law, the daughter by birth shall become a coparcener in her own right.
1 formation a partnership is a contractual relationship arising out of an agreement among the partners a joint hindu family firm on the other hand, is a creation of law. A project on joint hindu family should be presented in the below mentioned manner 1 introduction- what basically is your project about you can include definition.
Joint hindu family hindu undivided family huf hindu joint family is a kind of family system, which is typically seen amongst the hindus only the concept of hindu joint family is nothing new, and it is in existence since long. 1 formation - the basis of partnership firm is a contract between persons whereas a hindu undivided family is created by status ie, a. The management of joint hindu family business is centralised in the hands of karta of family in this business, karta takes all decisions and gets them implemented with the help of other member no other member interferes in his management.