A Joint Hindu Family Business is a business owned and run by members of a Hindu Undivided Family (HUF).
It exists under Hindu law and is governed by the law of succession.
The business is based on ancestral property inherited by male members of the family.
A member inherits property from three generations:
father
grandfather
great-grandfather
Only male members can become coparceners (those who share ownership).
The Karta, the oldest male member, manages and controls the business.
The Karta has full authority in business decisions while other members share ownership but limited control.
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