alleryStart learning →For the liability chapter, a Limited Liability Partnership is considered:
AA company
BA firm
CA trust
DA family
Answer & Solution
Correct answer: B. A firm
The explanation provides that an LLP registered under the LLP Act, 2008 is also treated as a firm.
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Related questions
Which section covers liability when a company is in liquidation?Which section makes a firm and its partners jointly liable for tax?Which section deals with liability of directors of a private company?Which section of the CGST Act lays down the job work procedure?Inputs go direct from supplier to job worker. Credit is:The principal can claim input tax credit on inputs sent to a job worker:For job work, the word input is stated to include:Inputs not back from job work in a year are deemed supplied: