The Limited Liability Partnership Act, 2008

Limited Liability Partnership Act 2008
The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India.wikipedia
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Limited liability partnership

LLPlimited liability partnershipsLLPs
The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India.
The Limited Liability Partnership Act 2008 was published in the official Gazette of India on 9 January 2009 and has been in effect since 31 March 2009.

Parliament of India

Indian ParliamentParliamentIndia's Parliament
The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India.

Legal person

legal personalitylegal entitybody corporate
Unlike the general partnerships in India, LLP is a body corporate and legal entity separate from its partners, have Perpetual succession and any change in the partners of a LLP shall not affect the existence, rights or liabilities of the LLP.

Perpetual succession

Unlike the general partnerships in India, LLP is a body corporate and legal entity separate from its partners, have Perpetual succession and any change in the partners of a LLP shall not affect the existence, rights or liabilities of the LLP.

The Indian Partnership Act, 1932

The entire taxation of LLPs is similar to the existing taxation pattern applicable to Partnerships registered and formed under The Indian Partnership Act, 1932.

Dividend distribution tax

Dividend distribution tax is not applicable in case of LLPs, whereas it is 15.00%(plus surcharge @ 5% plus education cess @ 2% plus SHEC @ 1% of amount so declared, distributed or paid) in case of companies.

Indian Corporate Law Service

ICLS
The service is entrusted with the responsibility of the implementation of Companies Act,1956, Companies Act, 2013 and The Limited liability Partnership Act, 2008.