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Question
Write any 3 features of HUF.
Short Note
Solution
Features of HUF:
- Governed by Hindu Law: The business of the Joint Hindu Family is controlled and managed under Hindu law.
- Membership by Birth: The membership of the family can be acquired only by birth. As soon as a male child is born in the family, that child becomes a member.
- Liability: Except for the Karta, the liability of all other members is limited to their shares in the business.
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Introduction to Hindu Undivided Family
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