Limited Liability Partnership (LLP) advantages

September 2, 2009 at 10:28 am | In LLP, Legal, Private limited company, limited liability partnership | Leave a Comment
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Here is a useful article by Sharda Balaji, Founder, NovoJuris Services. NovoJuris is taking care of CS services for LifeMojo/iStrait.

“An LLP is indeed advantageous because of comparatively lower costs of formation, lesser compliance requirements, easy to manage and run and also easy to wind-up and dissolve, no requirement of minimum capital contributions, partners are not liable for the acts of the other partners and importantly no minimum alternate tax (as of date). But, LLP cannot raise money from the public,” stated Balaji, adding, “One other factor that is interesting is that, books of accounts have to be audited if the contribution is above Rs 25 lakh or if annual turnover is above Rs 40 lakh.”

Read the complete article here:  http://dqchannels.ciol.com/content/space/109082902.asp

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