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of <h1>Conversion of Private and Unlisted Public Companies to LLPs under LLP Act, 2008: Sections 56, 57 Explained</h1> The Limited Liability Partnership Act, 2008, outlines provisions related to the conversion of private and unlisted public companies into limited liability partnerships (LLPs). It is referenced in the Income-tax Act, 1961, specifically under Sections 56 and 57, which address the conversion processes. The Third Schedule details the conversion from a private company to an LLP, while the Fourth Schedule pertains to the conversion from an unlisted public company to an LLP. These provisions aim to facilitate the transition of companies into LLPs with regard to taxation and legal structure.
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