https://www.taxtmi.com/article/detailed?id=544 An LLP is a body corporate and legal person separate from its partners with perpetual succession; partners' liability is limited to agreed contribution and they are not liable for other partners' independent or unauthorised acts, though each partner remains personally liable for his own wrongful acts. The Indian Partnership Act does not apply to LLPs except where the LLP Act incorporates partnership features, and LLPs must maintain annual accounts and comply with provisions enabling corporate actions and winding up as provided under the Act. en-us Wed, 28 Oct 2009 00:00:00 +0530 Thu, 10 Dec 2009 18:36:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=544 An LLP is a body corporate and legal person separate from its partners with perpetual succession; partners' liability is limited to agreed contribution and they are not liable for other partners' independent or unauthorised acts, though each partner remains personally liable for his own wrongful acts. The Indian Partnership Act does not apply to LLPs except where the LLP Act incorporates partnership features, and LLPs must maintain annual accounts and comply with provisions enabling corporate actions and winding up as provided under the Act. Articles Limited Liability Partnership - LLP Wed, 28 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=544