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limited liability partnership

Raghav Toshniwal (student) (450 Points)

25 July 2010

here is attached ppt file of LLP... hope you find it worthful...

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11 Replies

Faiz Ahmed ( Article Trainee) (1731 Points)
Replied 25 July 2010

Its precise and to the point... Good one...

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Raghav Toshniwal (student) (450 Points)
Replied 25 July 2010

thanks faiz..

Sumit Middha (Head (Fin.& A/c) M.COM M.A.(Eco) MBA CS Final) (2453 Points)
Replied 28 July 2010

Thanks sir.. it is very useful for CS student... thanks agian..

Raghav Toshniwal (student) (450 Points)
Replied 28 July 2010

thank you sumit... for appreciating.....

Sumit Middha (Head (Fin.& A/c) M.COM M.A.(Eco) MBA CS Final) (2453 Points)
Replied 29 July 2010

yaa i appreciat you.!!!!!!!!!!!!

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Sumit Middha (Head (Fin.& A/c) M.COM M.A.(Eco) MBA CS Final) (2453 Points)
Replied 29 July 2010

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Raghav Toshniwal (student) (450 Points)
Replied 29 July 2010

the link is really useful.... keep sharing

Kavitha.S (Company Secretary) (369 Points)
Replied 17 August 2010

Thanks for providing very useful information about LLP

1 Like

Raghav Toshniwal (student) (450 Points)
Replied 18 August 2010

thanks kavitha,

here is my ppt. file for tax audit under 44 AB...

/forum/tax-audit-u-s-44ab-ppt-94935.asp

Hope you like it

(Guest)

A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liability. It therefore exhibits elements of partnerships and corporations.^[1] In an LLP one partner is not responsible or liable for another partner's misconduct or negligence. This is an important difference from that of a limited partnership. In an LLP, some partners have a form of limited liability similar to that of the shareholders of a corporation.^[2] In some countries, an LLP must also have at least one "general partner" with unlimited liability. Unlike corporate shareholders, the partners have the right to manage the business directly. As opposed to that, corporate shareholders have to elect a board of directors under the laws of various state charters. The board organizes itself (also under the laws of the various state charters) and hires corporate officers who then have as "corporate" individuals the legal responsibility to manage the corporation in the corporation's best interest. An LLP also contains a different level of tax liability from that of a corporation.

Limited liability partnerships are distinct from limited partnerships in some countries, which may allow all LLP partners to have limited liability, while a limited partnership may require at least one unlimited partner and allow others to assume the role of a passive and limited liability investor. As a result, in these countries the LLP is more suited for businesses where all investors wish to take an active role in management.

Thanks

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