30/04/2022
An LLP must be registered under the LLP Act to operate its business. However, the registration of a partnership firm is voluntary under the Partnership Act, 1932. The liability of each partner is limited to the contribution made by the partner in an LLP.
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π Easier to start and administer
π Confronts fewer legal compliances
π Minimal registration cost
π LLP adheres to autonomous legal identity
π Mitigates the requirement of frequent auditing
π Fosters the notion of limited liability
π Low annual ROC compliance
π Ability to garner additional funding due to stable structure
Forming an LLP involves lesser compliance as compared to a Private Limited entity, In case of any queries on registering a LLP, Reach out to us at +91 92892 05931, Else drop a query at [email protected].
Visit us at www.getmytaxfiling.com
We are a group of consultants aimed at building your first company setup. Further having a presence following a Brick & Mortal for the model we have now made our services online. We have an inhouse consulting team to resolve your queries for taxation.