Taxmann's LLP Law Manual – Comprehensive | Fully Updated Guide Covering all Aspects of LLPs—from Formation to Winding Up—Featuring Annotated Statutes | Comparative Analyses | Practical Insights
About this ebook
This book is intended for the following audience:
• Legal Practitioners & Law Firms – Advocates, solicitors, and in-house counsels who need accurate, up-to-date information on LLP law
• Chartered Accountants, Cost Accountants & Company Secretaries – Professionals assisting businesses with compliance, audits, and legal structuring
• Entrepreneurs & Start-ups – Founders wishing to explore LLP as a preferred business model, ensuring compliance and smooth operations
• Corporate Managers & Compliance Officers – Those tasked with meeting statutory obligations for their organisations
• Academicians & Students – Scholars, researchers, and students seeking a precise understanding of LLP legislation and its practical implications
The Present Publication is the 15th Edition | 2025, amended up to 25th May 2025. This book is edited by Taxmann’s Editorial Board, with the following noteworthy features:
• [Annotated Text of the LLP Act] Each section of the Limited Liability Partnership Act 2008 is meticulously annotated with cross-references, commentary, and practical insights
• [Latest Amendments] Incorporates all changes brought about by the Limited Liability Partnership (Amendment) Act 2021 and subsequent rules
• [Rules & Regulations Compendium] Covers the LLP Rules 2009, LLP (Winding up and Dissolution) Rules 2012, and LLP (Significant Beneficial Owners) Rules 2023, providing a holistic legislative framework
• [Comprehensive Circulars & Notifications] Up-to-date circulars and notifications from the Ministry of Corporate Affairs (MCA) are included, clarifying procedural aspects and compliance requirements
• [Guide to LLP Formation & Operations] A dedicated guide that navigates you through the incorporation process, partner responsibilities, filing requirements, and governance
• [FDI & FEMA Aspects] Includes sections on Foreign Direct Investment (FDI) in LLPs, referencing the FDI Policy Circular and Foreign Exchange Management (Non-Debt Instruments) Rules 2019
• [Easy Referencing] Detailed indexes, arrangement of sections, and quick-reference tables ensure efficient navigation of content
• [In-depth Comparative Analysis] The guide systematically compares traditional partnership law, company law, and LLP law, aiding in choosing the right structure
• [Updated Compliance Procedures] Emphasises e-filing processes and the adoption of the latest MCA portal functionalities, making compliance less cumbersome
The coverage of the book is as follows:
• Guide to LLP Act
o Introduction to LLPs
o Comparison between LLPs, Traditional Partnerships, and Companies
o Recent amendments and their impact on LLP governance
o Step-by-step procedures for incorporation, compliance, and filings
• Division One – Limited Liability Partnership Act 2008
o Arrangement of Sections
o Text of the LLP Act 2008 (amended by the 2021 Act)
o Subject Index for quick cross-references
• Division Two – LLP Rules
o LLP Rules 2009 – Updated text covering incorporation, regulatory filings, and compliance
o LLP (Winding up & Dissolution) Rules 2012 – Comprehensive winding-up procedures
o LLP (Significant Beneficial Owners) Rules 2023 – Disclosure requirements and compliance measures
• Division Three – Circulars & Notifications
o An exhaustive list of MCA circulars explaining clarifications on LLP formation, FDI guidelines, conversion processes, special schemes (e.g., LLP Settlement Scheme), etc.
o Notifications on the applicability of select provisions of the Companies Act to LLPs
• Division Four – FDI in LLP
o Relevant paragraphs from the FDI Policy Circular
o Provisions of FEMA Non-Debt Instrument Rules 2019, enabling foreign investment in LLPs
The structure of the book is as follows:
• Introductory Guide – Offers a conceptual explanation of LLP as a hybrid structure, highlighting advantages and distinguishing it from traditional partnerships and companies
• Annotated Legislation – Each division presents the legislative text followed by authoritative notes or comments, ensuring every amendment or rule is placed in context
• Tabular Lists of Notifications & Circulars – A separate section lists these items chronologically with short descriptions for quick scanning
• Subject Index & Arrangement of Sections – Enables readers to locate relevant topics swiftly
• Practical Insights & FAQs – Includes references to FAQs from the MCA and practical checklists for conversions (from firm/company to LLP), ensuring step-by-step guidance
Ratings and reviews
About the author
At the core of Taxmann's commitment to delivering insightful and reliable information is a highly skilled Research & Editorial Team consisting of Chartered Accountants, Company Secretaries, and Lawyers. Guided by Editor-In-Chief Mr Rakesh Bhargava, this team upholds Taxmann's role as a leading content provider in the professional knowledge space.
Operating with Six Sigma-inspired precision, the team is driven to eliminate errors and maintain excellence across all content outputs. Their content creation follows strict editorial principles to ensure authority, depth, and insight. Key guidelines include:
• Verified Sourcing – All statutory content is carefully curated from credible, authorized sources, ensuring authenticity and dependability
• Up-to-Date Information – With a commitment to timely updates, the team ensures readers are informed of the latest judicial and legislative changes
• Analytical Depth – Focused on high-impact issues, the team provides deep analysis to help readers understand the implications and nuances of recent developments
• Precise and Accurate Communication – Each publication is crafted for clarity and precision, making complex topics accessible and practical for professionals
• Rigorous Referencing – Analytical insights are thoroughly referenced with relevant sections, circulars, notifications, and rulings, enhancing trustworthiness
• Consistency and Quality – Taxmann adheres strictly to standards of style, grammar, and format, ensuring a smooth and professional reading experience
• Reader-Friendly Design – Both print and digital formats are designed with legibility in mind, enhancing accessibility across platforms
By adhering to these standards, Taxmann's Editorial Team strengthens its position as a trusted content company, empowering professionals with authoritative resources to make informed decisions.
