In India, the law of LLP is new. The Limited Liability Partnership Bill, 2008 and The LLP Act 2008 became operational on 31st March 2009.

The Limited Liability Partnership Rules 2009 ('the LLP Rules') notified on 01st April 2009 and brought into force from that date, except the Rules pertaining to conversion of existing partnership firms, private limited and unlisted public limited companies into LLP, which are brought into force from 31st May 2009.

As per the LLP Act any two persons can incorporate a LLP.

Every LLP shall have two designated partners (i.e. partners responsible for compliance of law of LLP) and one of the two designated partners, shall be resident in India.

LLP shall have a registered office and optionally one other address for serving of documents by the Government and others.

Audit of books of accounts of LLP by an Indian Chartered Accountant is mandatory, except for small LLPs. As per Rule 24(8) of the LLP Rules 2009 -where turnover of LLP does not exceed Rs. 4 million (Rs. forty lakhs) in any financial year or contribution of partners in LLP does not exceed Rs. 2.5 million (Rs. Twenty Five lakhs) need not get their accounts audited.

Annual filing of statement of accounts (by 30 September) and annual return (by 30 May).