The LLP Bill, 2008, has been passed by the Lower House of the Parliament in India on December 12. Now it awaits Presidential assent, followed by a notification for it to become an Act. True, it promises a brand new vehicle for doing business in India and it is much welcome. However, other legislations, including the Indian Income tax Act, 1961, now have to ensure that they meet the requirements of this new business vehicle. Click here for my analysis on UTVi.com. Yes once again, written for my employer organisation.
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