Table of Contents
Who is a Karta?
The senior most male member of the Hindu joint family is usually the Karta or head of the family. Often Karta is called Manager of the joint family, this is when there exists a family business or if it is a trading family, there has to be a manager to take care of the proper functioning and supervision of the business.
What is the role of Karta in HUF?
Manager – Property belonging to a joint family is ordinarily managed by the father or other senior member for the time being of the family: The Manager of a joint family is called Karta. In a HUF, the responsibility of Karta is to manage the HUF property. He is the custodian of the income and assets of the HUF.
Who is a Karta of a joint family?
Karta means manager of joint family and joint family properties. He is the person who takes care of day to day expenses of the family looks after the family and protects the joint family properties… In the entire Hindu Joint Family ‘Karta’ or ‘Manager’ occupies a very important position.
Who all are members of HUF?
Under Hindu Law, an HUF is a family which consists of all persons lineally descended from a common ancestor and includes their wives and unmarried daughters. An HUF cannot be created under a contract, it is created automatically in a Hindu Family.
Who is called Karta answer?
Answer: Karta means the manager of a joint family and joint family properties. He is the person who takes care of day to day expenses of the family looks after the family and protects the joint family properties.
What are the duties of a Karta?
DUTIES OF KARTA: –
- Render Accounts- Karta has the obligation to render accounts of the family members with respect to the income from the joint family property and use subsequently.
- Maintenance- All the individuals from the Hindu Joint Family whether coparcenary or not reserve a privilege to maintenance.
Is Karta A agent?
Karta is the head of the family and acts on the behalf of all members of the family but an agent of members of the family.
Can a person be Karta of two HUF?
There is no restriction on one person becoming Karta of more than one HUF. Since only a coparcener can become Karta of an HUF and since you are a coparcener of both the HUF, you can become and remain Karta of both the HUF at the same time.
Is Karta a trustee?
Karta has extensive control over the income and expenses of the common family. As his position is not like the trustee or agent, he is not obliged to save or save as a trustee or agent provided he spends the family income for the benefit of the members of the family.
Who are Coparceners and members in HUF?
All the members of the Karta’s family can be members of the HUF. The male members are called coparceners, while the females are referred to as just members. The difference between the two is that any of the coparceners can demand partition of the HUF.