LIMITED LIABILITY PARTNERSHIP

A Limited Liability Partnership (LLP) combines the advantages of a partnership with those of a limited liability company.


It took shape in India from January 2009 onwards and was an instant hit with startups and professional services.


The idea behind LLPs was to provide a business form that was easy to maintain and profitable for owners with limited liability.

Benefits of attaining LLP Registration

Limited Liability: The liability of the partners in limited and its limited only to their contribution.


LLP can be easily transferred to one person from another.


No audit required up to turnover less than Rs. 40 lakh and Rs. 25 lakh as capital contribution.


LLP holds the right to own and transfer property and this can be performed under their own name.


LLP’s existence is still considered even after the death of any partner.