Limited Liability Partnership was introduced in India by way of the Limited Liability Partnership Act, 2008. It is an alternative corporate business form that gives the benefits of limited liability and the flexibility of a partnership business, In other words, it offers benefits of both options by bringing simplicity in management and scope of expansion like that of a company.

LLP Registration is a popular business formation among services and professional firms like Chartered Accountants, Company Secretaries, Management Consulting Businesses, Recruiting Firms, and other services-based businesses.

For small LLP, the audit is not required and the compliance is based on the information declared by the partners. Minimum two persons can form an LLP with no maximum limit on the number of its partners. The main advantage of Limited Liability Partnership over a traditional partnership firm is that in an LLP, one partner is not responsible or liable for another partner’s misconduct or negligence and liability of the partners of LLP is limited.