To attract more entrepreneurs to limited liability partnerships, this new form of business structure is likely to be recognised in double taxation avoidance (DTAA) treaties between India and other countries. The corporate affairs ministry has proposed to the finance ministry to avoid double taxation for LLPs to attract more entrepreneurs to this business structure, introduced in the country from April 1 this year. DTAA treaties are signed between India and other countries for avoiding payment of double taxes by entities.
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