1. Head of the Family: The Karta is the senior-most male member, traditionally the eldest, but can be any competent male.
2. Managerial Authority: The Karta administers the family property, makes financial decisions, and represents the family in legal matters.
3. Control over Hindu Undivided Family Property: The Karta has control over ancestral and acquired family property, making decisions regarding its use, sale, or disposal.
4. Decision-Making Powers: The Karta has the authority to make decisions on investments, business activities, and family welfare.
5. Legal Representation: Legal documents and contracts are executed by the Karta on behalf of the family.
6. Income Tax Filing: The Karta manages and files the family's income tax return, ensuring compliance with tax laws.
7. Rituals and Ceremonies: The Karta plays a central role in the religious and social ceremonies of the family.
8. Succession Planning: Upon the Karta's death, the next senior-most coparcener often assumes the role of the Karta.
9. Power of Alienation: The Karta has the power to alienate family property for legal necessity, the benefit of the estate, or for the discharge of antecedent debt.
10. Responsible for Family Welfare: The Karta is responsible for the overall welfare of the family members.
© 2020 CREDENCE CORPORATE SOLUTIONS PVT. LTD. | Website by Wits Digtal Pvt. Ltd.
Leave a Comment