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.
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