Incorporating an LLP in India offers several advantages, including limited liability for partners, a distinct legal identity, no minimum capital requirement, and flexible management. LLPs benefit from tax exemptions like no Dividend Distribution Tax (DDT), fewer compliance obligations, and no audit requirement for small LLPs (with turnover below ₹40 lakhs). Additionally, LLPs have perpetual succession, ensuring continuity even if partners change, and offer a straightforward incorporation and dissolution process. This structure is particularly ideal for professionals and entrepreneurs seeking flexibility and limited liability protection.
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