Limited Liability Partnership

Nowadays, LLP Registration is obtained by various budding entrepreneurs, Law Firms, Auditing Firms, Real Estate Agencies, Financial Advisory Services, Business Consultancies, and Small and Medium-Sized Businesses. The main reason behind this is that the concept of LLP is very prominent. Moreover, it would protect the personal assets in a dispute and provide various tax benefits.The term Limited Liability Partnership (LLP) is defined under the Limited Liability Partnership Act, 2008. It means any corporate body incorporated under this Act. This business structure is a blend of the advantages of a traditional partnership firm and a private limited company and was introduced in India in the year 2010. Further, all the rights and duties concerning the designated partners are governed and administered by the LLP Agreement.