This newsletter presents tax-related updates in relation to conversion of company into limited liability partnership (“LLP”), Section 194N – TDS on cash withdrawals, unilateral global measures to tax the digital economy and Legacy Dispute Resolution Scheme.
Conversion of company into limited liability partnership (“LLP”)
An LLP form of business entity offers operational flexibility and tax efficiency because of which conversion from a company structure to LLP has drawn the fascination of many investors. The Limited Liability Partnership Act, 2008 (“LLP Act”) permits and regulates the conversion of a Company into LLP.
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