Investing Basics – Feel free to ask the most basic questions

I am having some queries regarding taxation of Capital gains for individuals vs LLP/firms.
Requesting VP members to kindly share their views.

1. How are income from LLP (limited liability partnerships) & firms taxed as far as capital gains (both short term and long term) are concerned. That is, whether the tax rate is 10% of profit, 25%, 30% or any other combination.
   Take, for example, a scenario where a LLP is managing some amount of sum. Now if the profit for the year is 1 cr for the LLP, how will this profit be taxed to the LLP. Further, after this taxation (if any), whether members appropriating the profit will have to pay additional tax or not on individual income.

2. Now, in case the tax rate of LLP or firms, as inquired in point 1 above, are higher than 10%, why do people form LLPs /firms. Isn’t it much better to invest personally and only pay 10% on the total profit. Is there any legal complication for the same.

Thank you