Benefits of a Limited Liability Partnership
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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