• Drafting of LLP agreement.
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• LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession, Like a corporation
• There is no upper limit on number of partners in an LLP unlike an ordinary partnership firm where the maximum number of partners cannot exceed 20 (10 in case of banking)
• While the LLP will be a separate legal entity, Liable to the full extent of its assets, the liability of the partners would be limited to their agreed contribution to the LLP.
• No partner would be liable on account of independent or unauthorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partners wrongful business decisions or misconduct.
• Lesser Compliances in comparison to Company .
• Tax rate is same for LLP & Company .
• Drafting of LLP agreement.
• Getting Registration of LLP in India
• Intimating any change in LLP with Registrar of Companies.
• Compiling with Statutory Compliances of LLP on month to month basis.
• Annual Auditing of LLP.