Limited Liability company registration in Bangalore has the concept of limited liability partnership that was introduced in the year 2000 with the introduction of the Partnership Act 2000 which was provided limited liability, which is only available for companies earlier. The Rajya Sabha had introduced the LLP Bill on 15th December 2006 for both combinations of the tax model of a partnership business with the limited liability of its partners.
In Actual LLP was introduced in India from the financial year starting from 1st April 2009. To start a business with a Limited Liability Partnership, the partnership should have been registered which will come under the provision of the Limited Liability Partnership Act, 2008. This rights and duties of the partners will also be governed by the Act and that are directly responsible for compliance with the provisions of this Act.
Services for limited Liability company registration is another corporate business that gives you the benefits of a limited liability company and the flexibility of a partnership. It will also continue its existence irrespective of the changes in partners. So, no other partner is liable on the account of the independent actions of other partners, and this is how they are protected from the joint liability and this is how is created by another member’s misconduct.
This article also shows us the light on how to register an LLP registration in India. From now on it has become an important part of the business as many entrepreneurs choose for it. LLP not just existing only in India but is also prevailed in countries like the United Kingdom, Australia, etc.
Limited Liability Partnership
LLP Registration Consultants in Bangalore is the name that suggests a partnership in which all or some of the partners will have their limited liabilities. In this type of partnership, each partner will be not responsible for another partner’s misconduct or negligence as they have limited liability. A minor person can also be a partner in an LLP. It has a separate legal entity that is different from its partners which have perpetual succession. Hence, the death or alteration of partners will not affect the identity of the partnership or its liability.
A reading of the Limited Liability Partnership Act, 2008 also explains to us that there should be a minimum of two designated partners that are individuals, and out of them at least one of them should be a citizen of India to incorporate an LLP.
Although, LLP does not cease to exist if it is carried on only with one partner. In such a case, if the business is carried for more than 6 months, the liability will be on the single surviving partner. The upper limit has not been provided on the numbers of partners. LLP is governed and regulated by the contractual agreement between the partners and the Limited Liability Partnership Act, 2008, and the provisions of the Indian Partnership Act, 1932 do not apply to it.
How to Apply for LLP Registration Services in Bangalore?
Do you want to get a LLP Company Registration Services in Karnataka? then we are here to help you, we are the top company incorporation service provider in Bangalore. feel free to send your inquiry to firstname.lastname@example.org or feel free to contact: 7975187793 or visit https://www.consultry.in/