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LLP vs Private Limited: Key Differences by Raj Paroha is a document available to read on EtoBox.
An LLP is a hybrid business entity that has characteristics of both a partnership and a corporation. It allows for limited liability as in a corporation but maintains the tax benefits and internal governance flexibility of a partnership. The key characteristics of an LLP are that it must have a minimum of 2 partners but no maximum, annual accounts must be maintained, and partners have no exposure to personal assets except in cases of fraud. LLPs also have perpetual succession, can merge or dissolve, and mus
- Author
- Raj Paroha
- Language
- EN