A Joint Hindu family firm refers to the firm owned by a joint Hindu family. In short, the firm or business belonging to a Joint Hindu family is called a Joint Hindu family firm.
The chief characteristics of Joint Hindu family firm are:
1. A Joint Hindu family firm is recognized as a separate entity by law.
2. A Joint Hindu family firm is not dissolved by the death, insolvency or insanity of any co-parcener. It is not dissolved even on the death, insolvency or insanity of the Karta.
3. A Joint hind family firm is government by the general rules of Hindu law.
4. It is owned by all the co-parceners.
