This Joint Hindu family business - an affectionate business project includes all the introduction to joint Hindu family business as well as their. Hindu Family Business Objective Joint Hindu Family An Affectionate Aims Objective. Pdf project on joint hindu family an affectionate business Ask Latest. raurollwillongdi.ga - Download as PDF File .pdf), Text File .txt) or read online. The Joint Hindu Family Business is a distinct form of business organization existing only . Project Report on Plastic Money in India.
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Joint Hindu Family Business - Download as Word Doc .doc /.docx), PDF File . pdf), Text File .txt) or read online. full project. This is a presentation that I had made on Joint hindu family business Hope people find it useful. The Joint Hindu Family business is a form of business organisation found only in two exits. This expressway is part of the Golden Quadrilateral project. The.
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Actions Shares. Embeds 0 No embeds. No notes for slide. Joint hindu family business - Class 11 1. Better Production For a Better Tomorrow 2. Features Merits Introduction Limitations Examples 3.
It is a specific form of business Organization found only in India. It is one of the Oldest forms of Business organization in the country. It refers a form of organization wherein the business is owned and carried out by the members of the Hindu Undivided Family. A minimum of 2 members must be in the family Existence of ancestral property Conditions 5. Dayabhaga system is basically prevalent in West Bengal.
When both male and female are allowed to be a part of business The other part is Mitakashara, where only the male members of the family are allowed to run the business. In a family, the one who is the eldest of all. Takes all the important decisions related to the business.
Rest all the members of the family. They all have to abide by the decisions taken by the Karta.
For a joint Hindu family business there should at least be two members in the family. It is not at all compulsory to register this organization because it is the result of Hindu Law. It is not formed by any agreement like partnership firm. Membership is by birth..
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The liability of Karta is unlimited because he is the only deciding authority whereas the liability of co- parceners is limited up to their share in the capital of the family. This organization enjoys a long and stable life as it is not affected due to death, insolvency, insanity of any of its member.
In other words, if Karta dies or becomes incapable of managing the business then the succeeding co-parceners will act as Karta. Hence operations are not terminated and continuity of business is not threatened.
Joint family gives stress on collective responsibility. Some members take advantage of this and became lazy. In a joint family some active members work harder while others become lazier. Because in a joint family there is no reward for the hard working members and no punishment for the lazy members.
All are treated equally in every respect. This also lessens the interest of hard working members in doing hard work. As a result joint family became a home for idlers and family prosperity is impaired. Conditions of women are very pitiable in the joint family system. They are the worst sufferer. They toil for the family day and night and eat only after all the male members. They enjoy low status in the family. Very often the daughter in law faces different kinds of ill-treatment by the mother-in-law and sister-in-laws.
Because of large size in general and presence of many women in particular in the joint family quarrels occurs frequently. There is hatred, jealousy and constant bickerings among the female members. There is always clash of ideas, interests, ideals and temperaments which makes the joint family a hotbed of quarrels.
Quarrels became more severe when the male members got involved. Absence of privacy particularly to the newlywed couple impaired their personality in a joint family system. Due to the presence of large number of individuals and elders the newlywed couple could not meet each other during day time to discuss their problems.
Hence joint family environment is not congenial for the newly married couple to enjoy their life in full. Being the eldest member he is orthodox in his attitude and temperament. He normally do not allow new ideas and change to be introduced easily.
Dynamic members do not find scope for utilization of their plan for development. Besides he insists on the practice of old customs, traditions etc. All this hinders the process of development of joint family.
Joint Hindu Family Business: Meaning, Characteristics and Advantages
Standard of living in a joint family is very low due to number of factors such as pitiable condition of women, lack of privacy, frequent quarrels and litigation, improper care of common property, laziness of some members etc. Why Losing Popularity? The main cause for its decline is the gradual breaking of the joint family system itself.
The success of Joint Hindu Family business is mostly dependent upon the efficiency of the karta and the mutual understanding between the co-parceners. Nevertheless, this type of business is losing its ground with the gradual decline in the Joint Hindu Family system http: Joint Hindu Family Business Uploaded by pankajgaba Flag for inappropriate content. Related titles.
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Jessica Lussenhop. Cheryl Lim. Jed Darezz. It is not formed by any agreement like partnership firm. Karta is the elder male member of the family who controls and manages the business. The other family members are called as the coparceners. There is no limit on membership because the membership is by birth.
He is free to take any decision without any interference of any co-parceners but he can take advice and help from the family members. The kartas liability is unlimited so his personal assets can also be used to pay back the debts of the business. In case of Joint Hindu Family firm registration is not at all compulsory; hence it does not enjoy any legal status. Though, Joint Hindu Family Business is enlarged form of sole trading concern and it has got due recognition by Income Tax Act, , and Joint Hindu Succession Act, , then also it does not enjoy separate legal status because of Joint Hindu Family firm and its members are one and the same that is inspirable.
But, as per Hindu Law any member who is unsatisfied with the decision of kata can demand partition. In other words, if Karta dies or becomes incapable of managing the business then the succeeding co-parceners will act as Karta.
The Karta can expand or change the line of business or he can even close down the business.Sanjay Chinnala. All the members of a joint family live under a common roof or in a common residence.
Lack of Economies of Scale: This joint kitchen keeps the joint family integrated. This also lessens the interest of hard working members in doing hard work. As the name suggests, it is type of organization in which all the members of Hindu Undivided Family manage and control the business with the direction of head of the family.
Family is one of the universal and permanent institutions of mankind.
In any case, so long as the joint family holds together, its members are expected to contribute to the support of the whole and to receive from it a share of the total product. Karta has full authority and control over the financial aspects of the business. No Downloads.