A Joint Hindu Family Business (HUF) is a form of business organization that is owned and carried on jointly by the members of the Hindu Undivided Family. It is governed by the Hindu Law, and the basis of membership in the business is birth, with three successive generations being able to be members of the business. The business is managed by the head of the family, known as the Karta, who is the eldest member of the family and has full control over business activities. All members of the family hold equal ownership over the property of an ancestor and are called co-parceners.

Some key features of a Joint Hindu Family Business include:

• Formation: There should be at least two male members in the family to form a HUF, and ancestral property should have been inherited by members of HUF. All members enjoy this property and have an equal share in it.
• Mitakshara System: This system prevails all over India except in West Bengal and Assam. Only male family members are allowed to be co-parceners in the business.
• Minor Members: Minors can also be members of the business as membership in the business arises by the virtue of birth.

Advantages of a Joint Hindu Family Business include ease in formation, limited liability of members, and more commitment. However, there are also some disadvantages, such as limited resources, dominance of the Karta, and misuse of power.