Meaning Joint Hindu family business

JOINT HINDU FAMILY BUSINESS

Meaning

The business which is jointly owned by members of joint Hindu family is called as joint Hindu family business. Three successive generation inherit the business by virtue of their birth in the Hindu family. The business is managed by 'karta', the Senior most member of the joint Hindu family. The other members are called as co- Parceners , who assist the Marta in the working of firm.