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What is joint Hindu family business?

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Joint Hindu family business is a specific form of business organisation found only in India. It is one of the oldest forms of business organisation in the country. It refers to a form of organisation wherein the business isJoint Hindu family business is a specific form of business organisation found only in India. It is one of the oldest forms of business organisation in the country. It refers to a form of organisation wherein the business is owned and carried on by the members of  the  Hindu Undivided Family (HUF). It is governed by the Hindu Law. The basis of membership in the business is birth in a particular family and three successive generations can be members in the business.owned and carried on by the members of  the  Hindu Undivided Family (HUF). It is governed by the Hindu Law. The basis of membership in the business is birth in a particular family and three successive generations can be members in the business.The business is controlled by the head of the family who is the eldest member and is called  karta. All members have equal ownership right over the property of an ancestor and they are known as  co-parceners.The business is controlled by the head of the family who is the eldest member and is called  karta. All members have equal ownership right over the property of an ancestor and they are known as  co-parceners.systems87.  Dayabhaga system  prevails in  West Bengal and allows both the male and female members of the family to be co-parceners.  Mitakashara system, on the other hand, prevails all over India except West Bengal and allows only the male members to be co-parceners in the business.systems83.  Dayabhaga system  prevails in  West Bengal and allows both the male and female members of the family to be co-parceners.  Mitakashara system, on the other hand, prevails all over India except West Bengal and allows only the male members to be co-parceners in the business.