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LLP Incorporation



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“LLP Incorporation”

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A Quick glance of LLP Incorporation

LLP-Limited Liability Partnership is a partnership firm in which some or all partners have limited liabilities.

Gives the benefits of limited liability of a company and the flexibility of a partnership. Organized and operates on the basis of an agreement.

Mutual rights and duties of the partners within a LLP are governed by an agreement between the partners or between the partners and the LLP as the case may be. The LLP, however, is not relieved of the liability for its other obligations as a separate entity.

Offering flexibility without imposing detailed legal and procedural requirements If the capital amount which is less than 25 lakhs and turnover below 40 lakhs per year do not required any formal audits.

It will have perpetual succession. Because, if any partner who does not want to the business or will not involve in the business at any cases, he can leave. But the business remains.



Sections related to “LLP Incorporation” according to the Company’s Act, 2013

Please click on the attachment for viewing the above act of LLP
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