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Convert a Partnership firm to a LLP firm

Conversion of a Partnership Firm into a LLP has many advantages, as LLPs are comparatively stronger business models. A Limited Liability Partnership mellows down the rigid regulations of the Indian Partnership Act, 1932. Additionally, a LLP has a better tax structure and limited audit responsibilities among others.

Advantages of Setting Up a Convert a Partnership firm to a LLP firm :

  • Limited Liability for partners
  • Comparatively Limited Compliances
  • One partner will not be held responsible for another partner’s misconduct
  • Easy to form and less expensive than other entities
  • They are taxed lower as compared to other companies and are exempted from Dividend Distribution Tax
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