limited liability patnership firm
This query is : Resolved
03 April 2010
can anybody tell me aboutlimited liability patnership firm. how this can be form and its advantages
03 April 2010
ADVANTAGES OF LLP:---
* Separate legal entity
* Easy to establish
* Flexibility without imposing detailed legal and procedural requirements
* Perpetual existence irrespective of changes in partners
* Internationally renowned form of business in comparison to Company
* No requirement of minimum capital contribution
* No restrictions as to maximum number of partners.
* LLP & its partners are distinct from each other
* Partners are not liable for Act of other partners.
* Personal assets of the partners are not exposed except in case of fraud.
* Easy to dissolve or wind-up
* Professionals like CS / CA / CWA / Lawyers can form Multi-disciplinary Professional LLP
* No requirement to maintain statutory records except Books of Accounts
* Less Cost of formation (Compared to a company)
FOR ANY FURTHER INFO PLEASE VISIT:--
https://www.llp.gov.in/
* Separate legal entity
* Easy to establish
* Flexibility without imposing detailed legal and procedural requirements
* Perpetual existence irrespective of changes in partners
* Internationally renowned form of business in comparison to Company
* No requirement of minimum capital contribution
* No restrictions as to maximum number of partners.
* LLP & its partners are distinct from each other
* Partners are not liable for Act of other partners.
* Personal assets of the partners are not exposed except in case of fraud.
* Easy to dissolve or wind-up
* Professionals like CS / CA / CWA / Lawyers can form Multi-disciplinary Professional LLP
* No requirement to maintain statutory records except Books of Accounts
* Less Cost of formation (Compared to a company)
FOR ANY FURTHER INFO PLEASE VISIT:--
https://www.llp.gov.in/
Rahul Gupta
(Expert)
03 April 2010
Well Explained.
You can also visit site > www.llponline.in
You can also visit site > www.llponline.in
03 April 2010
THANKS RAHUL JI.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- Advances to related party
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- ETDS return q4 25-26
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
