Corporate and Other LawsQuestion 5384 of 221
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10. As per the LLP Act, 2008, the term resident in India means a person who has stayed in India for a period of:

Options

Anot less than one hundred and twenty days during the financial year
Bnot less than sixty days during the financial year
Cnot less than one hundred days during preceding one year
Dnot less than ninety days during preceding one year (2 Marks)
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Correct Answer

Option Anot less than one hundred and twenty days during the financial year

All Options:

  • Anot less than one hundred and twenty days during the financial year
  • Bnot less than sixty days during the financial year
  • Cnot less than one hundred days during preceding one year
  • Dnot less than ninety days during preceding one year (2 Marks)

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Detailed Solution & Explanation

Under the Limited Liability Partnership Act, 2008 (as amended in 2021), the term "resident in India" means a person who has stayed in India for a period of not less than one hundred and twenty days (120 days\displaystyle 120\text{ days}) during the financial year.
Hence, **Option A** is the correct answer.

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