As per the LLP Amendment Act, 2021, answer each of the followings: If a person has lived in India for 150 days during the financial year 2023-24, whether he can be considered as a resident of India, for being a designate

According to the LLP Act, every LLP is required to have at least 2 designated partners, out of which at least one has to be a resident of India. The LLP Act previously defined the term resident of India as a person who has stayed in India for 182 days during the immediately preceding 1 year. Pursuant to the Amendment Act, a person who has stayed in India for not less than 120 days during the financial year is entitled to become a designated partner of an LLP. In the given case the person is in India for 150 days i.e., more than 120 days, during the financial year and hence is entitled to become a designated partner of an LLP.