Service Description
In India LLPs are to be introduced soon. The announcement of the same may be made in the Union Budget on 29th of Feb this year. This type of formation is a boon to service sector professionals. This route may be chosen by law accounting and financial service providers. The ministry of corporate affairs has recommended for flexible mode of taxation. The income of LLP could be taxed in the LLP itself or it could be taxed in te hand of partners. However, LLP would have to comply with very stringent controls & regulations.
