Under the Explanation to section 7(1) of the Limited Liability Partnership Act, 2008, as amended by the…
The amended designated-partner definition requires at least 120 days of stay in India during the financial year. The earlier threshold was 182 days during the immediately…
Choose your answer
Under the Explanation to section 7(1) of the Limited Liability Partnership Act, 2008, as amended by the Limited Liability Partnership (Amendment) Act, 2021, "resident in India" for designated-partner purposes requires a stay in India of at least how many days during the financial year?
Answer and explanation
Correct answer A
The amended designated-partner definition requires at least 120 days of stay in India during the financial year. The earlier threshold was 182 days during the immediately preceding year. Applying the amended count together with its amended reference period avoids mixing the two versions.
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