Limited Liability Partnership


Limited Liability Partnership (LLP) firm is a new form of business entity introduced in 2008 and is most prevalent one for it limits the liability of a partner to his/her contribution and protects from the misdeeds or negligence of other partners. Further it provides limited liability from debts to the partners. Moreover, it is easier to incorporate and has minimum compliance requirements.

Benefits of a Limited Liability Partnership
Limited Liability

LLP exists as a distinct legal entity from its stakeholders and this ensures that the stakeholders are insulated from the liabilities of the firm.

No Mandatory Audit

An LLP where the annual turnover exceeds Rs 40 Lacs or capital contribution exceeds Rs 25 Lacs requires getting their account audited annually.


Taxation structure of an LLP is at a lower rate as compared to Company. Moreover, dividend distribution is also not subjected to taxation Tax as compared to the company.


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