LLP

Question 1

Incorporation of LLP

Answer 1

1. Two or more persons carrying on lawful biz. with an intention to earn profits
2. Document shall be filed in such manner as may be prescribed to ROC
3. Statement by either an advocate, CS, CA or Cost Accountant who has subscribed name to incorporation document that all the provisions have been followed.
4. The document shall state name of LLP, proposed biz. address of LLP, state name and addresses of partners and designated partners.
5. CONTRAVENTION
   a) if he knows to be false
   b) Does not believe to be true
   Shall be punishable with imprisonment upto 2 years and fine not less than ₹10,000 but may extend upto ₹5 Lakhs