Yes, LLP (Limited Liability Partnership) can be a subsidiary under Ind AS, provided that it meets the definition of a subsidiary as per Ind AS 110.
Ind AS 110 defines a subsidiary as an entity that is controlled by another entity (the parent), which is a shareholder or group of shareholders who have the power to govern the financial and operating policies of the entity.
In the case of an LLP, if the parent has the power to govern the financial and operating policies of the LLP, it can be considered as a subsidiary under Ind AS. This would require an assessment of the specific facts and circumstances of the relationship between the parent and the LLP to determine whether the parent has control over the LLP.
