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.

For what reason Should You Choose A LLP?

  • It gives "double benefits" of both a "Company and a Partnership".
  • No partner will be liable for any sort of wrongdoing by the other partner.
  • Less expensive to consolidate than a "Private limited company ".
  • Limits its liabilities partners.