While we often use it interchangeably but both have different meanings. custody refers to the physical care and daily nurturing of the child, who the child lives with. On the other hand, Guardianship refers to legal authority to make major decisions about the child's life like education, healthcare, etc. A parent may have guardianship but not custody, or vice versa. The Guardians and Wards Act, 1890 defines and regulates both.