Smaller companies in computer services, real estate and trade activities are embracing the limited liability partnership structure in a big way, while large professional firms are staying away due to a lack of regulatory clarity on issues such as stamp duty and taxation. LLP, a form of business organisation that combines the benefits of partnership [...]
Archive for the ‘LLP’ Category
The finance ministry and the commerce ministry have extended their squabbles over FDI into LLPs, a form of business organisation that combines the best features of partnerships and companies.
The finance ministry said it wants LLPs to have the same FDI guidelines that govern companies.
The Reserve Bank of India plans to amend its rules to pre-empt non banking finance companies from misusing the liberal rules governing limited liability partnership firms.
In the interim, NBFCs that want to convert themselves to LLP firms will have to obtain a no-objection certificate from the central bank.