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- Whether a Limited Liability Partnership (LLP) qualifies as a body corporate for the purpose of discharging liability under reverse charge ?
Whether a Limited Liability Partnership (LLP) qualifies as a body corporate for the purpose of discharging liability under reverse charge ?
TRT-2026-253
Issue Favourable to Tax Payer ?:- yes
Held - In general terms, an LLP is a viewed as an alternate corporate business model that involves the integration of the advantages of a limited liability company with the flexibility of a partnership. It allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement. From the LLP Act, 2008 the main features inter alia are that the LLP shall be a body corporate and a legal enti.....
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