Tag Archive
Limited Liability Partnership – An Overview – III
(..cont.)
How LLP would be taxed?
The aspect of tax treatment of LLP is not clear. The bill tabled in Rajyasabha on 15th Dec. 2006 states that a LLP will be treated as a firm as defined under Income Tax Act 1961. This means that a LLP shall be liable to tax on profits after charging interest [...]
Limited Liability Partnership – An Overview – II
(..cont.)
What are the key features of a LLP?
The key features of a LLP incorporated in India are as follows:
1. LLP is a body corporate. It is must for every LLP to get registered with the Registrar of Companies (ROC) similar to that of setting up of a company. Its name should be unique i.e. [...]
Limited Liability Partnership – An Overview – I
Introduction
Limited Liability Partnership commonly known as LLP is a concept which adopts corporate form. Thus it has an organizational flexibility of a company and a tax status of partnership with limited liability on its partners. LLP Bill was tabled in Rajyasabha on 15th December
2006 and is influenced by Limited Liability Partnership Act 2000 of [...]