The income of the partners in an LLP company is not taxable.

Section 40B exempts dividend distribution from taxation.

The remunaration provided to the partners, including bonus, commission, and interest is deductible.

Every Limited Liability Partnerships must have at least two partners and at least two individuals as designated partners. At any time, at least one designated partner should be resident in India. There is no maximum limit on the number of maximum partners in the entity.

A limited liability partnership can continue its existence even after the retirement, insanity, insolvency or even death of one or more partners.

The liability of each partner is limited to his agreed contribution in the Limited Liability Partnership.

Minimum number of two partners before applying for registration of the LLP. Identity and address proof of all the Partners is required.

Approval of Name from the Registrar of Companies (ROC).

The Partner must provide the company’s registered office address. Copies of utility bills such as water, electricity or gas bill, not older than two months. if rented NOC from the property owner.

Partner obtain a DSC before applying for registration

Certification by professionals is necessary