ICAI releases E-book containing Frequently Asked Questions (FAQs) on Limited Liability Partnership Act, 2008 

The Limited Liability Partnership (LLP) Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India, unlike the general partnerships in India. The Act was notified on 31st March 2009. It provides an alternative to the traditional partnership firm with unlimited liability.

By incorporating an LLP, its members can avail the benefit of limited liability while at the same time having the flexibility of organizing their internal management on the basis of a mutually-arrived agreement, as is the case in a partnership firm.

Over the years there have been many amendments and changes brought in by the Government in the Act and Rules, and this form of business was also well received amongst the stakeholders, therefore, guidance was required in this area.

In this regard, the Institute of Chartered Accountants of India (ICAI) through its Corporate Laws & Corporate Governance Committee (CL&CGC) is bringing this “Frequently Asked Questions (FAQs) on Limited Liability Partnership Act, 2008” to provide detailed guidance in question answer form on the procedural aspects of this integrated form for clear interpretation and understanding of the Act and changes brought in the Act.

Download E-Book – Direct Link :- https://resource.cdn.icai.org/62754clcgc50746-faqllp.pdf

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March 2021