https://www.taxtmi.com/news?id=642 LLP is a body corporate with perpetual succession, separate from its partners, combining limited liability (partners liable only to their agreed contribution) with partnership flexibility under a written LLP agreement; partners are agents of the LLP, designated partners (minimum two, one resident) bear compliance duties and filings, LLPs must prepare and file annual Statement of Account and Solvency and annual returns (accounts may be audited), and the statute provides for investigations, prosecution, conversion of firms/companies into LLPs, compromise/merger procedures, and winding up rules. en-us Fri, 24 Oct 2008 17:47:51 +0530 Wed, 11 Feb 2026 15:55:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=642 LLP is a body corporate with perpetual succession, separate from its partners, combining limited liability (partners liable only to their agreed contribution) with partnership flexibility under a written LLP agreement; partners are agents of the LLP, designated partners (minimum two, one resident) bear compliance duties and filings, LLPs must prepare and file annual Statement of Account and Solvency and annual returns (accounts may be audited), and the statute provides for investigations, prosecution, conversion of firms/companies into LLPs, compromise/merger procedures, and winding up rules. News - Fri, 24 Oct 2008 17:47:51 +0530 https://www.taxtmi.com/news?id=642