What Is A Hindu Undivided Family, And What Is Its Legal Status?

1. Formation: A Hindu Undivided Family is automatically formed when a Hindu family comes together.

2. Membership: Members include the eldest member, known as the "Karta," and other coparceners.

3. Property and Income: The property consists of ancestral and joint family property, and the income belongs to the family.

4. Karta: The Karta is the head of the family and manages its affairs.

5. Partition: Coparceners have a right to demand a partition, leading to a division of the family property.

6. Legal Status: It is considered a separate legal entity for income tax purposes.

7. Tax Implications: Hindu Undivided Families have distinct tax implications and are eligible for certain deductions.

8. Succession Planning: Property follows the principle of survivorship.

9. Governing Law: The concept is primarily governed by Hindu law.

10. Separate Legal Entity: It is considered a separate legal entity for certain purposes.

11. Continuity: The continuity of a Hindu Undivided Family is not affected by the birth or death of its members.