Multiple choice

Which of these features of limited liability partnership is not correct as per LLP Act 2008?

  1. LLP is a separate legal entity.

  2. LLP is separate from its partners.

  3. LLP is taxed as a partnership.

  4. None of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Some of the key features of LLPs are: They are a separate legal entity from their members. They have the benefit of limited liability for their members. They are taxed as a partnership. Thus, all the mentioned are the features of limited liability partnership. Thus, option 4 is the correct answer.

Keep practicing — related questions