Question

A HUF business can be dissolved any time ___________________.

• A. Through mutual agreement between members
• B. By partition
• C. Either (a) or (b)
• D. Only through order of court

Answer 1

The correct option is C Either (a) or (b)

A HUF business can be dissolved any time through mutual agreement between members or by partition. In a Hindu Undivided Family business only the male members get a share in the business by virtue of their being part of the family. A Hindu Undivided Family is an extended family arrangement prevalent among Hindus of the Indian subcontinent. It came into existence as per Hindu Inheritance Laws of India.