status of a LLP in Indian market
1) Can LLP be called as a corporation ? 2) How income from forex, commodity and stock, CFD are computed in India? shall it be treated as capital gain or business income?
A basic difference between an LLP and a joint stock company lies in that the internal governance structure of a company is regulated by statute (i.e. Companies Act, 1956) whereas for an LLP it would be by a contractual agreement between partners. The management-ownership divide inherent in a company is not there in a limited liability partnership.
LLP will have more flexibility as compared to a company. LLP will have lesser compliance requirements as compared to a company.
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Corporate Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Get Started >>
Answers by Our Lawyers
- Can I file a harassment case against my in laws and not on husband?
- Does divorced wife have any share on fathers-in-laws property
- custody of child after broken marriage
- Property dispute with brother in Family for joint family's property
- What action can be taken to get back the loan given