LLP

Benefits of LLP

Corporate Law - It is very easy to form LLP, as the process is very simple as compared to Companies and does not involve much formality. Moreover, in terms of cost the minimum fees of incorporation is as low as Rs 800 and maximum is Rs 5600....

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Assesement of Partners of Limited Liability Partnership

Corporate Law - Limited Liability Partnerships are one of the most preferred business structures for service sector and for small and medium enterprises. Limited Liability Partnership concept of business structures are preferably used in UAS, UK, Canada, Japan and various other countries....

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Process of Strike off of Limited Liability Partnership (LLP)

Corporate Law - In this Flash editorial, the author begins by referring the provision of the LLP Act, 2008 concerning to Strike off of LLP. In case the LLP wants to close down its business or where it is not carrying on any business operations, it can make an application to the Registrar of Companies for declaring the company as defunct and removing the ...

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Which one is better “Company or LLP” In case FDI Comes or Overseas Shareholder?

Corporate Law - While allowing FDI in LLP, the Government of India, has taken a very precautionary approach by only allowing FDI under approval route in sectors where 100% FDI is allowed, under the automatic route and there are no FDI-linked performance related conditions, for example sectors like power, roads, information technology, manufacturing etc ....

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Migration from LLP to Company structure

Corporate Law - The article discusses the need for business to be conducted through LLP, the need to migrate from LLP to Company structure, various ways for migration from LLP to Company structure and issues revolving around it. ...

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ICSI Advisory to Company Secretaries regarding LLP formation

Corporate Law - Company Secretaries are to note that if the word `CS' or 'Company Secretary' or 'Company Secretaries' is used by a LLP as suffix, then a prior No Objection Certificate (NOC) is mandatorily required to be obtained from the ICSI by such proposed LLP....

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ICAI Request members to improve annual ROC filing compliance

Corporate Law - This is to mention here that to promote high standard of integrity and professionalism it is an essential part of the Professional duty of the Chartered Accountants to ensure compliance of various statutory and other regulatory requirements with regard to the relevant provisions of the Acts which regulate the functioning of Companies and ...

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New LLP Front Office Service by MCA

Corporate Law - Kindly note that a new LLP Front Office Service ‘Enter Form 3 or Form 3 & 4 details for LLP filing’ has been introduced. This service will enable users to insert relevant details of Form 3 or Form 3 & Form 4 (both) in case corresponding Form 3 & Form 4 (both) are pending for […]...

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Practicing CS allowed to become designated / active partner of a LLP

Corporate Law - The Council at its 227th Meeting held at New Delhi on January 18, 2015 while approving the formation of LLPs by PCS granted general permission to the members in practice to: (a) become designated / active partner of a limited liability partnership (LLP) the objects of which include carrying out attestation services which fall within the s...

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Recognition Of Seniority Of A Ca Firm On Its Conversion To LLP

Corporate Law - RECOGNITION OF SENIORITY OF A CA FIRM ON ITS CONVERSION TO LLP- Policy of O/o C&AG In respect of “Recognition of seniority of a CA Firm on its conversion to LLP”, the O/o C&AG has informed as under: (a)  The LLP firms registered with ICAI only will be considered for empanelment. (b)The seniority of such […]...

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LLP Conversion: Capital gain to be computed on book value

Aravali Polymers LLP Vs Joint Commissioner of Income Tax (ITAT Kolkata) - A perusal of the provisions of section 45 of the Income Tax Act shows the levy of capital gains to be on the profits or gains arising from the transfer of capital asset effected in the previous year. Admittedly, the erstwhile Company Aravali Polymers Pvt. Ltd....

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MCA proposes to strike off name of 81 LLPs

Public Notice No- ROC/LLP/Sec.75/ - (30/06/2017) - The following LLPs in Table A (List of 81 Nos. LLPs) have not been carrying on any business or operation for a period of two immediately preceding financial years....

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Limited Liability Partnership (Amendment) Rules, 2017

Notification No. G.S.R. 470(E) - (16/05/2017) - (I) file overdue returns in Form 8 and Form 11 up to the end of the financial year in which the limited liability partnership ceased to carry on its business or commercial operations before filing Form 24;...

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LLP: Amendment in Forms 2 Form-3, Form-4 & Form-11

Notification No. G.S.R. 593(E) - (10/06/2016) - Limited Liability Partnership (Second Amendment) Rules 2016- -ln exercise of the powers conferred by sub-sections (l) and (2) of section 79 of the Limited Liability Partnership Act, 2008 (6 of 2009), the Central Government hereby makes the following rules further to amend the Limited Liability Partn...

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LLP form 11 date extended to 30.06.2016 & waiver of late fee

General Circular No. 07/2016 - (31/05/2016) - It has been decided to extend the period for which the one time waiver of additional fees is applicable to all eforms which are due for filing by companies between 25.03.2016 to 30.06.2016 as well as extend the last date for filing such documents and availing the benefit of waiver to 10.07.2016...

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Limited Liability Partnership (Amendment) Rules, 2016

Notification No. G.S.R. 418(E) - (13/04/2016) - In exercise of the powers conferred by sub-sections (1) and (2) of section 79 of the Limited Liability Partnership Act, 2008 (6 of 2009), the Central Government hereby makes the following rules further to amend the Limited Liability Partnership Rules, 2009 namely:-...

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Recent Posts in "LLP"

MCA proposes to strike off name of 81 LLPs

Public Notice No- ROC/LLP/Sec.75/ (30/06/2017)

The following LLPs in Table A (List of 81 Nos. LLPs) have not been carrying on any business or operation for a period of two immediately preceding financial years....

Read More

Benefits of LLP

It is very easy to form LLP, as the process is very simple as compared to Companies and does not involve much formality. Moreover, in terms of cost the minimum fees of incorporation is as low as Rs 800 and maximum is Rs 5600....

Read More
Posted Under: Corporate Law |

Assesement of Partners of Limited Liability Partnership

Limited Liability Partnerships are one of the most preferred business structures for service sector and for small and medium enterprises. Limited Liability Partnership concept of business structures are preferably used in UAS, UK, Canada, Japan and various other countries....

Read More
Posted Under: Corporate Law |

Process of Strike off of Limited Liability Partnership (LLP)

In this Flash editorial, the author begins by referring the provision of the LLP Act, 2008 concerning to Strike off of LLP. In case the LLP wants to close down its business or where it is not carrying on any business operations, it can make an application to the Registrar of Companies for declaring the company as defunct and removing the ...

Read More
Posted Under: Corporate Law |

Which one is better “Company or LLP” In case FDI Comes or Overseas Shareholder?

While allowing FDI in LLP, the Government of India, has taken a very precautionary approach by only allowing FDI under approval route in sectors where 100% FDI is allowed, under the automatic route and there are no FDI-linked performance related conditions, for example sectors like power, roads, information technology, manufacturing etc ....

Read More
Posted Under: Corporate Law |

Limited Liability Partnership (Amendment) Rules, 2017

Notification No. G.S.R. 470(E) (16/05/2017)

(I) file overdue returns in Form 8 and Form 11 up to the end of the financial year in which the limited liability partnership ceased to carry on its business or commercial operations before filing Form 24;...

Read More

Migration from LLP to Company structure

The article discusses the need for business to be conducted through LLP, the need to migrate from LLP to Company structure, various ways for migration from LLP to Company structure and issues revolving around it. ...

Read More
Posted Under: Corporate Law |

Difference between Private limited company Vs LLP

While starting up a company one has to decide which business organization they want to incorporate and carry on. The choice of business organization is very important to give shape to your business motive. Here, if one has to choose between the Private limited company registration and LLP one can see the advantages and the difference so a...

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Posted Under: Corporate Law |

Conversion of LLP into Company

Ministry of Corporate Affairs has passed a notification on 31st May, 2016 in such notification its allowed conversion of LLP into Company. For such conversion there is need to prepare a list of documents and required to file the same with ROC in forms like URC-1, INC-7, DIR-12, INC-22 etc. ...

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Posted Under: Corporate Law |

U. S. Taxation: Partnership Firms– LLC & others– Series No. 1

It is a common debate among accounting professionals that Partnership firms in U.S.A. would solve all the problems and that they would recommend their clients to have the same structure for business. ...

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Posted Under: Corporate Law |
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