Is patnership better or huf co

Hindu Undivided Family. By creating a family unit and pooling in assets to form an HUF you can save taxes. HUF is taxed separately from its members. A Hindu family can come together and form an HUF. Buddhists, Jains and Sikhs can also form HUF. HUF has its own PAN and files tax returns independent of its members.

certain exemptions are available under I.T. act

Hindu Law amended in 2005 gives equal right to women in the property of HUF. 
After this amendement Women is a  Co parcener in HUF.

Creation of HUF will not be available for cousins 

ONE person will be required to be designated as Karta  

In case of a comparison between the HUF, partnership and the company there can be no straight answer for the same.

It entirely depends upon the needs of the organization. If everything has to be done fair and square then you can for any type of organization. But if expenses are to be enhanced and personal benefits are to maximised then the company form of organisation will suit you the best.

Regards