01 January 2014
At this point of time it is preferable to form LLP rather than a Partnership or a Pvt Ltd Co. because in LLP partners can share profit however in Pvt Company DDT has to be paid to give dividend.
In Part. firm the liability of partner is not limited however in LLP the liability is limited to the assets of LLP only.
LLP requires less compliances than a pvt company like ROC filing, Meetings etc.
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