What are the pros and cons of LLP in India
LLP formation
Limited liability partnerships are most of the time referred to by its acronym as the LLP. LLPs were first brought into place in 2000 under the partnership act 2000 to offer partnerships with the limited liability formerly only available to the companies. Before registering your company as LLP, you should be aware of some of the legal compliances and tax liabilities. If your business turnover exceeds the threshold limit of GST (goods and services tax), then you have to file GST returns online compulsorily. It is equally important to carry out the Limited Liability Partnership registration process to avail of all the benefits.
The formation of a limited liability partnership is well-known when a 'professional partnership' would like to get the benefits from the protected...