Question
Which regulatory body governs Limited Liability
Partnership (LLP) firms in India?Solution
In India, Limited Liability Partnership (LLP) firms are regulated by the Ministry of Corporate Affairs (MCA), which is responsible for overseeing and administering the Companies Act, 2013 as well as the Limited Liability Partnership Act, 2008. The MCA is also responsible for registering and maintaining records of LLPs in India, and ensuring that they comply with legal and regulatory requirements.
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The point at which the liability to charge tax arises is called as the Â
