Counsel
Ask an expert!
Legal, accounting and compliance advice from qualified professionals.
What is the advantage of choosing LLP over Private Limited Company?
Listing out the advantages in registering your business as LLP instead of Private Limited Company:
1. LLP registration is cheaper.
2. In LLP, There is no minimum capital requirement in LLP. In Private Limited company, there is a minimum capital requirement of 1 Lakh
3. In LLP, minimum 2 directors and maximum could be any. In Private Limited compan...
Wazzeer Professional Network
ProfessionalWhat is the advantage of choosing LLP over Private Limited Company?
Please help me understand both taxation and legal part.
-
Wazzeer Professional Network
ProfessionalListing out the advantages in registering your business as LLP instead of Private Limited Company: 1. LLP registration is cheaper. 2. In LLP, There is no minimum capital requirement in LLP. In Private Limited company, there is a minimum capital requirement of 1 Lakh 3. In LLP, minimum 2 directors and maximum could be any. In Private Limited company, maximum 200 directors. 4. LLP regulations are less onerous. 5. No Requirement of compulsory Audit 6. LLP partners can withdraw part of their share of the company easily. 7. LLPs can be structured to give higher rights to some partners over others. There are no special resolution structures that apply to Private Limited Companies. 8. LLP is liable for payment of income tax and share of its partners in LLP is not liable to tax. Wazzeerians are trusted by Startup Community for providing reliable legal and accounting support for years now. To kick start your LLP, 'Get a Wazzeer'almost 5 years ago
View answer
What is the advantage of choosing LLP over Private Limited Company?
Please help me understand both taxation and legal part.
-
Wazzeer Professional Network
ProfessionalListing out the advantages in registering your business as LLP instead of Private Limited Company: 1. LLP registration is cheaper. 2. In LLP, There is no minimum capital requirement in LLP. In Private Limited company, there is a minimum capital requirement of 1 Lakh 3. In LLP, minimum 2 directors and maximum could be any. In Private Limited company, maximum 200 directors. 4. LLP regulations are less onerous. 5. No Requirement of compulsory Audit 6. LLP partners can withdraw part of their share of the company easily. 7. LLPs can be structured to give higher rights to some partners over others. There are no special resolution structures that apply to Private Limited Companies. 8. LLP is liable for payment of income tax and share of its partners in LLP is not liable to tax. Wazzeerians are trusted by Startup Community for providing reliable legal and accounting support for years now. To kick start your LLP, 'Get a Wazzeer'almost 5 years ago
Looking to hire a professional from our handpicked community?
Explore our services, submit your request and let us do the rest for you.