Key Benefits
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- ✔ Creates a separate legal entity that can own property, sue, or be sued in its own name, independent of its partners.
- ✔ Ensures perpetual succession, where the existence of the business remains unaffected by the death, retirement, or insolvency of any partner.
- ✔ Removes the restriction on the maximum number of partners, allowing the business to scale and bring in more contributors as needed.
- ✔ Eliminates the mandatory requirement for a statutory audit unless the turnover exceeds ₹40 Lakhs or the capital contribution exceeds ₹25 Lakhs.
- ✔ Enhances the firm's credibility and professionalism, making it more attractive for corporate contracts, international collaborations, and bank financing.
- ✔ Facilitates tax efficiency as the share of profit in the hands of the partners is exempt from tax once the LLP has paid its taxes.
- ✔ Streamlines governance by allowing partners to define their own rules, rights, and duties through a flexible and customized LLP Agreement.
We Are Recognised On
We Are Recognised On
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