omtex.co.in : The liability of a Karta in a Joint Hindu family firm is limited: State with reasons whether the following statements are true or false.

The liability of a Karta in a Joint Hindu family firm is limited: State with reasons whether the following statements are true or false.

The liability of a Karta in a Joint Hindu family firm is limited: False

Explanation: The Karta of a joint Hindu family business has unlimited liability. It implies that his personal property can be used for paying debts of the business if business assets are not sufficient. The liability of coparceners is limited.