How is a Joint Stock Company is different from Joint Hindu Family Business?

Joint Stock Company:

• It is an association of persons formed under the Companies Act, 2013 to run a business. 
• Private Company minimum 2 members and maximum 200 members. 
• Public Company minimum 7 members and maximum unlimited. 
• Registration is compulsory under the Indian Companies Act, 2013. 
• The liability of all members is limited. 
• It has a stable business. Death or insolvency of a member will not affect the stability. 
• It requires a huge amount of capital. 
• It maintains less business secrecy. 
• The Board of Directors is responsible for the management of Joint Stock company. 
• There is more government control on working of the Joint Stock company.

Joint Hindu Family Business (JHFB):

• It is a business organization owned and managed by members of the Joint Hindu Family. 
• There is no limit on the minimum and maximum number of members. 
• Registration is not necessary. 
• Karta has unlimited liability while Coparceners have limited liability. 
• It has no stability. Death or insolvency of members may affect stability. 
• Comparatively, it requires limited capital. 
• It maintains maximum secrecy. 
• Karta is responsible for the management of the business. 
• There is less government control.