Llp -tax implication on foreign national

SANTOSH SHAH (Company Secretary) (754 Points)

15 May 2012  

Dear Members

We are in process of forming a LLP which will have only  2 Designated Partners.

One of the Designated Partner is holding US Citizenship but resident in India.

LLP Act allows foreign nationals also to incorporate a LLP in India.

 

My Query is what will be the Tax Implications for such Foreign national (holding US Citizenship), but resident in India

in case of such formation of LLP??

Your valuable views solicited at the earliest.

 

 

regards

Santosh Shah