Question

In a HUF business all co-parceners have equal share in the profits of the business.

• A. False
• B. True
• C. Partly true
• D. None of above

Answer 1

Answer: (B)

True

In a HUF business all co-parceners have equal share in the profits of the business- this is a true statement. 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.