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What is limited liability partnership (LLP) in India?
What is LLP in India?
What is limited liability partnership (LLP)?
Is LLP a partnership or a company?
LLP stands for Limited Liability Partnership. Limited liability partnership definition – It is an alternative corporate business form that offers the benefits of limited liability to the partners at low compliance costs.
Aug 13, 2021 · Limited Liability Partnership Act, 2008. A corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership.
Jun 30, 2021 · A limited liability partnership (“ LLP ”) is generally viewed as an alternative corporate business vehicle that provides the benefits of limited liability but allows its members the...
An Act to make provision for the formation and regulation of limited liability partnerships and for matters connected therewith or incidental thereto. The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India.
- 7 January 2009
- 12 December 2008
- 31 March 2009
- Parliament of India
India introduced The Limited Liability Partnership Act in 2008 to legally authorize the concept of Limited Liability Partnerships (LLP). A blend between a private company and a partnership LLP's have recently become a very popular form of business vehicle. Let us study them in some detail.
LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership.
A Limited Liability Partnership (LLP) is a business structure that combines the flexibility of a partnership and the limited liability of a company. It was first introduced in USA in 1991then in the United Kingdom in 2000, following the Limited Liability Partnership Act of 2000.
