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LLP (Limited Liability Partnership)

LLP is a newly defined corporate base structure that combines features of both Company and Partnership. It is linked to company as it includes limited liability and works on partnership in defining flexible and mutual agreement among partners. As the name suggests, LLPs are limited liability oriented firms in which partners are only liable to pay only a specific amount defined in their partnership agreement after getting their partnership registered under Limited Liability Act 2008.

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Statutory Auditor

The Companies Act has clearly defined the importance, role, responsibilities, and duties of the statutory auditor. A statutory Auditor is referred to an external auditor who is certified to check the accuracy of the financials statement and company accounts either….

LLP Settlement Scheme, 2020

Limited Liability partnerships (“LLP”) are one of the most favored forms of businesses amongst the professionals and entrepreneurs these days due to advantages in terms of recognition by the department, controlled ownership, and less complicated compliance requirements. LLPs are also…

Can an LLP become a subsidiary of a company?

Limited Liability Partnership (“LLP”)  is one of the most prevalent forms of business entity in India, especially for licensed professionals like Chartered Accountants (‘CAs’), Company Secretaries (“CS”)Doctors, and Lawyers, etc. The biggest advantage of forming an LLP is that it…

Everything you need to know about LLP Registration

LLP Registration – It’s not been a long time since LLPs came into existence, they have gained popularity day by day throughout the nation. LLP is quite a new concept which has come with a wide range of benefits over…

LLP VS Partnership Firm

For all those who need to know what is the difference between an LLP and a Partnership firm, below is the detailed comparison. LLP VS Partnership Firm SR. NO. PARTICULAR LIMITED LIABILITY PARTNERSHIP PARTNERSHIP FIRM 1. Governing Law The Limited…

How is LLP better from any other form of business?

How is Limited Liability Partnerships better from any other form of business? Following reasons can help you decide, why you should go for an LLP: • Renowned form of business: The concept of Limited Liability Partnerships has been recently introduced in…

Difference Between LLP And Partnership Firm

LLP And Partnership Firm Partnership refers to an arrangement where in two or more person agree to carry on a business and share profits & losses mutually. It is governed by Indian Partnership Act, 1932. To get registered under the…