LLP has been presented in India via Limited Liability Partnership Act, 2008. The essential reason behind the presentation of Limited Liability Partnership (LLP) is to give a type of business association that is easy to keep up with while simultaneously giving limited obligation to the proprietors. A Limited Liability Partnership consolidates the benefits of both the Company and Partnership into a solitary type of association and one partner isn't dependable or responsible for another partner's wrongdoing or carelessness.