Rajya Sabha approves of Limited Liability Partnership (Amendment) bill, 2021

The Rajya Sabha has passed the Limited Liability Partnership (Amendment) Bill, 2021. The Amendment Bill seeks to facilitate greater ease of living to law-abiding corporates and to decriminalise certain provisions of the Act. Key changes as proposed in the bill includes as viz. introduction of the concept of ‘small LLPs’, de-criminalisation of certain offences, empowering Govt. to establish special courts, Authorisation to Regional directors.The Rajya Sabha has passed the Limited Liability Partnership (Amendment) Bill, 2021. The Amendment Bill seeks to facilitate greater ease of living to law-abiding corporates and to decriminalise certain provisions of the Act. Key changes as proposed in the bill includes as viz. introduction of the concept of ‘small LLPs’, de-criminalisation of certain offences, empowering Govt. to establish special courts, Authorisation to Regional directors.taxmann.com NewsRead More

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