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What is hindu undivided family

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What is hindu undivided family

Posted by Gautam Prajapati 3 years, 8 months ago

CBSE > Class 11 > Business Studies

3 answers

Vaidehi Hammed 3 years, 8 months ago

Ans. Hindu Undivided Family (HUF) consists of all persons directly descended from a common ancestor, and also the wives and daughters of the male descendants. The Hindu Undivided Family is treated as a 'person' under section 2(31) of the Income-tax Act, 1961, for the purpose of assessment under the Act.

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Muskan Singh 3 years, 8 months ago

The family which has some ancestral property can start their business with eldest member being karta and rest of others as coparceners is called HUF its governed by hindu succession act of 1956

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Palak Singh 3 years, 8 months ago

It is governed by Hindu succession act,1956. It has easy formation n closure. Membership is by taking birth in the family. Ancestral property should be inherited by karta and co-parcener

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