https://www.taxtmi.com/circulars?id=8811 Introduction of a statutory framework for the limited liability partnership as a separate corporate person combining partnership flexibility with limited liability; incorporation requires delivery of an incorporation document, registered office and appointment of a resident individual manager who is personally liable for administrative penalties unless exculpated; partners' rights are governed by an LLP agreement with default provisions; LLPs maintain books on accrual and double entry basis, managers must lodge solvency declarations, the Registrar has enforcement powers, and partners are taxed as partners with LLP assets treated as partners' assets. en-us Fri, 01 Jan 2010 00:00:00 +0530 Wed, 02 Jan 2013 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8811 Introduction of a statutory framework for the limited liability partnership as a separate corporate person combining partnership flexibility with limited liability; incorporation requires delivery of an incorporation document, registered office and appointment of a resident individual manager who is personally liable for administrative penalties unless exculpated; partners' rights are governed by an LLP agreement with default provisions; LLPs maintain books on accrual and double entry basis, managers must lodge solvency declarations, the Registrar has enforcement powers, and partners are taxed as partners with LLP assets treated as partners' assets. Circulars LLP Fri, 01 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8811