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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.The last male holder of the property is the senior most member of the family. He is a person with limited powers, but, within the ambit of his sphere, he possesses such vast powers as are possessed by none else. No stranger can ever be qualified to be a karta, but an adopted son who is the eldest in the family can be qualified.In the entire Hindu joint family, the karta or manager (the English word manager is wholly inadequate in understanding his unique position) occupies a very important position. 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.
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MBA Finance and working as Manager of a Public Sector Bank. Presently working in Mumbai and can relocate to other States/places, if necessary....
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