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Joined: 17 Jun 2013
Posts: 18
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 Posted: Mon Jul 29, 2013 11:44 am Post subject: What is an LLP registration ? |
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Limited Liability Partnership (LLP) could be a variety of business that mixes the benefits of easy running a partnership on one hand and a separate legal entity standing and financial obligation facet of a corporation on the opposite hand. LLP is recently introduced in Republic of India and is ruled by the financial obligation Partnership Act, 2008, that took result from Gregorian calendar month one, 2009.
LLP could be a body company with perpetual succession and incorporates a separate legal identity distinct from its partners. LLP is created by any 2 or a lot of persons associated for carrying on a lawful business with a read to earn profit. LLP can not be shaped while not profit motive. The liability of the partners is restricted to the in agreement contribution within the LLP which can be of tangible or intangible nature.
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