Insta C.A.

LLP is a Limited Liability Partnership, an alternative corporate business that offers the benefits of limited liability of a company and the flexibility of a partnership firm. In this type of firm, partners have limited liability. This means their personal assets cannot be used for paying off company’s debts. One partner cannot be made responsible for the misconduct of the other. Limited liability partnership registration is the preferable form of organization among the business class. It offers the benefits of both the partnership firm as well as a company into single form of organization known as LLP. In a Limited liability partnership firm, minimum 2 partners are required. There’s no limit to the maximum number of partners. One partner must be the resident of India. All the limited liability partnership firms are governed as per the provisions of Limited Liability Partnership Act, 2008. The LLP agreement governs the rights, duties and responsibilities of the part...