Hello friends
I have a doubt, whether a ca in practice can form a LLP
and second if yes, whether the partners should be only ca or a Non ca can also become partners?
Looking forward to your replies
CA Vineet Singh (Partner) (41 Points)
05 March 2015Hello friends
I have a doubt, whether a ca in practice can form a LLP
and second if yes, whether the partners should be only ca or a Non ca can also become partners?
Looking forward to your replies
1.Yes, LLP is absolutely allowed.
ICAI encourage LLP of its members. ( ICAI journal has hinted many times )
2. Only CA can be the partners in a LLP.
You may float a private Limited Company.The objectives should be business consultancy. Then, make the Non CA a director and an employee. Also, divide the shareholding among CAs, Non CAs, as decided. Now, you have a partnership with Non CAs. But in legality, its a Private Company. Legal Compliance will be more than a partnership firm.
But this arrangement helps in Tax Planning( If you know what I mean). But this business consultancy company cannot audit any financial statements.
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