| 词条 | The Limited Liability Partnership Act, 2008 |
| 释义 |
| short_title = Limited Liability Partnership Act, 2008 | imagesize = 75 | imagealt = LLP Act | long_title = An Act to make provision for the formation and regulation of limited liability partnerships and for matters connected therewith or incidental thereto. | citation = No. 6 of 2009 | enacted_by = Parliament of India | date_enacted = 12 December 2008 | date_assented = 7 January 2009 | date_commenced = 31 March 2009 | status = in force }}The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India. 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.[1] OverviewLLP is a corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, as a hybrid of companies & partnerships providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership.[2] LLP is a legal entity partnership act.
DefinitionsForeign Limited Liability Partnership: A LLP formed, incorporated or registered outside India which establishes a place of business within India. A LLP is a new form of business entity with limited liability. It is hybrid of companies and partnership. Partner: Partner means any person who becomes a partner in the LLP in accordance with the LLP agreement. Financial Year: The period from the 1st day of April of a year to the 31st day of March of the following year. In the case of a LLP incorporated after the 30th day of September of a year, the financial year may end on the 31st day of March of the next following year. Salient FeaturesLLP AgreementAny written agreement between the partners of the LLP or between the LLP and its partners which determines the mutual rights and duties of the partners and their rights and duties in relation to that LLP. It is not necessary to enter into an LLP agreement as per LLP Act,2008. In the absence of LLP agreement, the mutual rights of corporates, at least two individuals who are partners of such limited liability partnership or nominees of such bodies corporate shall act as designated partners.[3] Accounts and AuditLLP is required to maintain books of accounts for each year on cash basis or on accrual basis. Accounts shall be audited by Auditors appointed by the LLP. Audit of accounts is compulsory if turnover exceeds Rs. 40 lakhs in any financial year or contribution by partners exceed Rs. 25 lakhs. The Statement of Accounts and Solvency for the year ended 31 March is required to be filed with the Registrar before 30 October in each year.[4] PenaltyAny person guilty of an offence under this Act for which no punishment is expressly provided shall be liable to a fine which may extend to five lakh rupees but which shall not be less than five thousand rupees and which may extend to fifty thousand rupees for every day after the first day after which the default continues.[5] Taxation of a Limited Liability PartnershipLLP registered in India will be a resident even if only a part of control and management is in India. Profits distributed by LLP exempt in the hands of the partners. As per the Finance Bill, 2009, the income of an LLP is taxed only the hands of LLP and not the Partners. The entire taxation of LLPs is similar to the existing taxation pattern applicable to Partnerships registered and formed under The Indian Partnership Act, 1932.[6] 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.[7] References[8]1. ^{{Cite web|url = http://indiankanoon.org/doc/161391573/|title = Section 3 of LLP Act, 2008|date = |accessdate = 2015-11-21|website = |publisher = Indian Kanoon|last = |first = }} [9]2. ^{{Cite web|title = Ministry Of Corporate Affairs - The Limited Liability Partnership Act, 2008|url = http://www.llp.gov.in/MinistryV2/llpact.html|website = www.llp.gov.in|accessdate = 2015-11-21}} 3. ^{{Cite web|title = Welcome to LLPOnline.in : Designated Partners in LLP|url = http://www.llponline.in/designated_partners.php|website = www.llponline.in|accessdate = 2015-11-21}} 4. ^{{Cite web|url = http://indiankanoon.org/doc/161391573/|title = Section 34 of LLP Act, 2008|date = |accessdate = 2015-11-21|website = |publisher = Indian Kanoon|last = |first = }} 5. ^{{Cite web|url = http://indiankanoon.org/doc/161391573/|title = Section 74 of LLP Act, 2008|date = |accessdate = 2015-11-21|website = |publisher = Indian Kanoon|last = |first = }} 6. ^http://www.mca.gov.in/LLP/pdf/pressreleaseonLLPtaxation.pdf 7. ^http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITAC&schT=&csId=f58d6a12-650c-48a3-a038-b597e7fa9277&rdb=sec&yr=303d6389-2d18-4432-bdbf-b74822b1a6df&sec=115&sch=&title=Taxmann%20-%20Direct%20Tax%20Laws 8. ^[https://www.setindiabiz.com/learning/limited-liability-partnership-llp-a-new-format-of-business/ LLP a New Format of Business] https://www.setindiabiz.com . 2016-10-06. 9. ^https://www.setindiabiz.com/private-limited-company-registration.html External links
4 : Indian business law|Acts of the Parliament of India 2008|Partnerships|Manmohan Singh administration |
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