LLP vs Partnership Firm: Why 70% of Small Businesses Make the Wrong Choice! скачать в хорошем качестве

LLP vs Partnership Firm: Why 70% of Small Businesses Make the Wrong Choice!

LLP vs Partnership Firm: Why 70% of Small Businesses Make the Wrong Choice! Are you a small business owner looking to set up your company but confused between LLP and Partnership Firm? Choosing the right business structure is crucial for the growth and success of your venture. In this video, we will break down the key differences between LLP and Partnership Firm, helping you make an informed decision for your small business. From liability and tax implications to management and ownership, we'll cover it all. Whether you're a startup or an established business, understanding the distinction between these two popular business structures is essential. Watch till the end to learn more about LLP and Partnership Firm, and which one is best suited for your small business needs. What's the BIG Difference Between LLP and Partnership Firm for Small Businesses? In this video, we explain the LLP vs Partnership Firm in India and why choosing the right business structure is one of the most critical decisions for entrepreneurs. Many small businesses select a structure based on cost, but they often ignore the serious financial and legal risks of unlimited liability in partnerships. We compare the Limited Liability Partnership Act, 2008 vs Indian Partnership Act, 1932, and break down how an LLP functions as a hybrid business structure that combines the flexibility of a partnership with the advantages of a company. A key difference is that an LLP is a separate legal entity, whereas a traditional partnership firm is not — which has major implications for liability, debt, and business continuity. You’ll learn how concepts like joint and several liability work in real life — where GST, Income Tax, or banks can recover full dues from even a single solvent partner. We also discuss professional liability risks for firms like CAs, architects, and engineers, where legal claims can sometimes exceed total earnings. On the operational side, we explain important aspects such as perpetual succession, ROC compliance for LLPs, and LLP audit limits (40 lakh turnover or 25 lakh capital). You’ll also understand why LLPs are eligible for Startup India benefits, while partnership firms are not, and how LLP filings are in the public domain, unlike partnerships that offer greater secrecy. From a financial perspective, we cover the flat 30% tax rate applicable to both structures and clarify why LLPs and partnerships avoid Dividend Distribution Tax (DDT). We also discuss how the formal nature of an LLP improves bank funding and credibility, making it easier to raise loans or attract investors. If you are planning to start a business in India or reconsidering your current structure, this video will help you make an informed decision. 🔹 What you will learn in this video: LLP vs Partnership Firm explained in simple terms Legal differences: LLP Act 2008 vs Partnership Act 1932 Unlimited liability vs personal asset protection Joint and several liability in tax and bank recovery Perpetual succession and business continuity ROC compliance and LLP audit limits Startup India benefits for LLPs Taxation: Flat 30% rate & no DDT Why LLP improves bank funding and credibility If you found this useful, like, share, and subscribe for more business and legal insights. Video Timestamps: 00:00 – Same Business, Same Profit… But Risk Different 00:20 – LLP vs Partnership: Why Structure Matters 00:40 – What is a Partnership Firm? (Basic Concept) 01:00 – What is LLP? Hybrid Structure Explained 01:20 – Legal Identity: LLP vs Partnership Firm 01:50 – Trust & Credibility Difference 02:20 – Can You Sue? Legal Rights Explained 02:40 – Continuity Risk: Death of Partner 03:10 – LLP Perpetual Succession Explained 03:30 – Unlimited Liability in Partnership 04:10 – Limited Liability in LLP (Big Advantage) 04:40 – Ownership & Control Difference 05:00 – Designated Partners Concept (LLP) 05:20 – Compliance & Legal Formalities 05:50 – ROC Filings & Audit Rules in LLP 06:30 – Tax Comparison: LLP vs Partnership 06:50 – 30% Tax Rate Explained 07:10 – No Double Taxation Benefit 07:30 – Which One Should You Choose? 07:50 – When to Choose Partnership Firm 08:20 – Data Privacy vs Transparency 08:50 – Startup & Funding Perspective 09:10 – LLP for Startups & Growth 09:30 – Best Structure for Professionals 09:50 – Risk Exposure & Liability Protection 10:10 – Multi-Partner Business Strategy 10:30 – Hidden Risk of Low Compliance 10:50 – Biggest Myths About LLP & Partnership 11:10 – LLP vs Partnership Final Conclusion Contact us ---- Whatsapp @ wa.me/919836518066 Email @ mailto:cachetanirajat@gmail.com Follow us on ---- Linkedin -   / ca-harshitajain   Facebook -   / carajatchetani   Instagram -   / carajatchetani   Youtube -    / carajatchetani   Linkedin -   / ca-rajat-chetani-885256a4   Google - https://g.page/r/CYDDMt5XyftfEBE/review