Limited Liability Partnership (LLP) is governed by Limited Liability Partnership Act 2008. A LLP enjoys benefits of both partnership firm and corporates. It is a separate legal entity from its partners. The liability of partners in LLP is limited as nothing from personal assets of partners can be recovered in case of loss or unpaid debts. LLP is not affected by death or retirement of any of the partner, for dissolving LLP there has to be legal compliances. Although it has feature of corporates there is no mandatory statutory audit required as in case of companies. As per ROC, statutory audit is applicable to LLPs only after exceeding certain specified turnover limit or capital contribution.
This form of business structure is generally preferred by professionals. LLP is governed by LLP Agreement/Deed. However, LLP has to be incorporated through Registrar of Firms.
In case place is owned by any of the partners - Latest utility bill clearly showing name of partner and NOC from partner allowing to use the place for running the business
In case place is rented -Rent agreement, latest utility bill clearly showing name of owner and NOC from owner allowing to use the place for running the business
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