LLP Registration
Limited Liability Partnership(LLP) is defined as partnership and registered under Limited Liability Partnership(llp) Act in the office of Registrar of Companies (ROC), India. LLP Registration is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partners. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name. The LLP Firm is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.
Tags:
LLP , LLP company registration , Llp firm , Lp
By:
ezzus
Business & Finance
34 months ago
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QC - Limited Liability Company - LLP
A rapid growth has been witnessed in the business structure with the advent of LLPs in India since 2008. The main difference between LLPs and partnership as the name indicates is under this, the partners have unlimited liability whereas under the former the liabilities of its partners are confined to their contributions to the business thus protection from misdeeds of the other partners ensured. Further, unlike a private limited company the LLPs can be a better choice from a tax perspective as it is cost effective and saves from the lengthy compliance procedures.
Tags:
Company , Liability , Limited , LLP
By:
shalini.quick
Business & Finance
58 months ago
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