| Basis of Difference | Joint Hindu Family Firm | Partnership Firm |
| Regulating Act | Governed by the Hindu laws & the Hindu Succession Act 1956. | Governed by the Indian Partnership Act 1932. |
| Number of members | Minimum: 2 Maximum: No limit | Minimum: 2 Maximum: 10 for banking business and 20 for other businesses |
| Minor | Minors can be members | Minors cannot be members |
| Liability | Liability of all members is limited, but the liability of the Karta is unlimited. | Liability of the partners is unlimited |
| Management and control | Management and control lie in the hands of the Karta. | Management and control are shared by the partners |
| Decision making | All decisions are taken by the Karta. | Any decision requires the consent of all partners. |
