limited liability partnership

Its precise and to the point... Good one...

thanks faiz..

thank you sumit... for appreciating.....

yaa i appreciat you.!!!!!!!!!!!!

More Notes, Accponts problum, Articule, Laws, Features & Tools have been added into site, wherein you can create a social community profile,(For CA, CS, CWA, CFA, MBA Student)

So, dont wait for more and join it today only.

Go to link - https://www.thecreativewonder.com/

Regards,
Sumit kumar

https://www.thecreativewonder.com

the link is really useful.... keep sharing

Thanks for providing very useful information about LLP

thanks kavitha,

here is my ppt. file for tax audit under 44 AB...

/forum/tax-audit-u-s-44ab-ppt-94935.asp

Hope you like it

Hi

A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liability. It therefore exhibits elements of partnerships and corporations.^[1] In an LLP one partner is not responsible or liable for another partner's misconduct or negligence. This is an important difference from that of a limited partnership. In an LLP, some partners have a form of limited liability similar to that of the shareholders of a corporation.^[2] In some countries, an LLP must also have at least one "general partner" with unlimited liability. Unlike corporate shareholders, the partners have the right to manage the business directly. As opposed to that, corporate shareholders have to elect a board of directors under the laws of various state charters. The board organizes itself (also under the laws of the various state charters) and hires corporate officers who then have as "corporate" individuals the legal responsibility to manage the corporation in the corporation's best interest. An LLP also contains a different level of tax liability from that of a corporation.

Limited liability partnerships are distinct from limited partnerships in some countries, which may allow all LLP partners to have limited liability, while a limited partnership may require at least one unlimited partner and allow others to assume the role of a passive and limited liability investor. As a result, in these countries the LLP is more suited for businesses where all investors wish to take an active role in management.

Thanks

Personal Injury Scotland

very nicely explained !!!