Q769
Which of the following can be termed as the general benefits of Limited Liability Partnership? 1. Less compliance cost. 2. Audit necessary only if turnover and contribution exceed Rs. 40 lacs and Rs. 25 lacs respectively. 3. The partners can distribute the profits among themselves without attracting any further taxation, i.e., Dividend Distribution Tax. 4. Various stringent provisions that prohibit the Company to take loans from individual or give loans to the respective Director are not there in case of LLP. 5. There are no restrictions on related party transactions in case of LLP.
A.
1, 2, 3 and 4
B.
2, 3, 4 and 5
C.
2, 4 and 5
D.
1, 2, 3, 4 and 5
AnswerAnswer: Option D
Solution
Answer: Option D
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