The ministry of corporate affairs has said that out of the eight lakh companies in India, a large chunk of them would be interested in getting converted into limited liability partnership (LLP) once a suitable tax structure for LLP is brought in. "We are getting enquiries from thousands of companies every week who are interested in LLP and are waiting for its tax-structure. The tax-structure would be provided in the next Finance Bill by the ministry of finance and once this is through, then large numbers of companies are going to convert into LLP'".
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