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Question 1. Asked on :19 August 2020:12:41:41 PM

 Write the possess of HUF?

-Added by Jyoti Srivastva Business Study » Forms Of Business Organizations

Answer:

Jyoti Srivastva

HUF possess the following:

(i) Legal status : HUF is governed by hindu law, thus can enter into partnership agreements.

(ii) Membership : onlymale member who are coparceners by birth can be its member. 

(iii) Managment : All the affairs of HUF are managed by karta.

(iv) Liability : Liability of all except karta in limited .

(v) Fluctuating share : share of each member keeps on fluctuating by birth and death of male members.

(vi) Continuty : Death of any coparcener or even karta does not effects its continuity.

(vii) Profit sharing : All coparcener have equal share in the proits.

-Answered by Jyoti Srivastva On 19 August 2020:12:45:00 PM(20065Average Rating Based on rating)

 

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