State any four merits of Joint Hindu Family Firm.

Merits of Joint Hindu Family are as follows: 

1. Easy Formation : Joint Hindu Family Firm can be easily formed. The formation is simple. Registration is also not compulsory. There is no limit on minimum or maximum members in the business. Family members become co-parceners by birth in the family. 

2. Quick Decision : Only the Karta is involved in the decision making process. This helps to take quick decisions in business. If decisions are taken quickly there can be prompt actions. 

3. Business Secrecy : Complete business secrecy can be maintained. All decisions are taken by Karta only. Co-parceners cannot even inspect books of accounts. There is no compulsion to publish books of accounts. 

4. Co-parceners Liability : The liability of coparceners is limited. It is to the extent of their share in Joint Family Business. Private property of co-parceners cannot be attached to business property.