21 August 2013
In India professionals like the Chartered Accountants (CA), Company Secretaries (CS) ,Cost Accountants(CWA) and Advocates are allowed to practice their profession under partnership but they can enter into partnership with their own professional colleagues only. For instance, a CS partnership can have only CS as its partners.
The concept of LLP offers great opportunity to professionals like CA/CS/CWA/Advocates to develop, as now they can enter into partnerships with professionals of different disciplines for instance, a CS can enter into partnership with CA/CWA/Advocate.