LLP agreement partnership / LLP act. deed if there is any 16 Dissolution by Continuance of Partnership an act of LLP is not contract can partners / affected by be put to an members / the acts of its end by directors Partners. anyone of the members \ on happening of event specified in Act 17 Jurisdiction of CLB has CLB has no Company Law jurisdiction jurisdiction Board over the affairs of the LLP 18 Compromise \ Provisions exist is no arrangements for provision for \ merger \ Compromise \ Compromise \ amalgamation arrangements arrangements \ merger \ \ merger \ amalgamation amalgamation for LLP in the in the act. Partnership firm. 19 Books of Needs to be Not Accounts maintained. applicable Filing of Statement of Not 20 Annual accounts and applicable Accounts solvency are required to be filed with ROC annually in the prescribed format. 21 Audit of As per the The Audit of Accounts provisions of accounts is as LLP act, per the accounts to be provisions of audited income tax annually act. except for LLP’s having turnover less
LLP agreement / LLP act. partnership deed if there is any 16 Dissolution by an act of partners / members / directors Continuance of LLP is not affected by the acts of its Partners. Partnership contract can be put to an end by anyone of the members \ on happening of event specified in Act 17 Jurisdiction of Company Law Board CLB has jurisdiction over the affairs of the LLP CLB has no jurisdiction 18 Compromise \ arrangements \ merger \ amalgamation Provisions exist for Compromise \ arrangements \ merger \ amalgamation for LLP in the act. is no provision for Compromise \ arrangements \ merger \ amalgamation in the Partnership firm. 19 Books of Accounts Needs to be maintained. Not applicable 20 Filing of Annual Accounts Statement of accounts and solvency are required to be filed with ROC annually in the prescribed format. Not applicable 21 Audit of Accounts As per the provisions of LLP act, accounts to be audited annually except for LLP’s having turnover less The Audit of accounts is as per the provisions of income tax act.
THE%20LIMITED%20LIABILITY%20PARTNERSHIP.docx