What are some key/ basic benefits of the conversion of Private Limited Company into anLLP?

  • Less Compliances as compared to a Company
  • There is no limitation in maximum number of memberships in LLP as compared to a Company
  • The Audit to certain extent is not mandatory in case of LLP whereas in case of a company Audit is mandatory in all cases.
  • Profits are Distributable to partners without any incidence of additional tax, unlike withholding tax on dividends distributed by companies