ICAI releases E-Book on Statutory Compliance Calendar of Limited Liability Partnership as per LLP Act, 2008 and Rules thereunder
The Parliament of India enacted the Limited Liability Partnership (LLP) Act, 2008 to introduce a special corporate business vehicle that allows its members to have the flexibility of organising their internal structure as a partnership and also provides the benefits of limited liability as availed by Companies. With these special features, the Limited Liability Partnership is considered as a cost effective, smooth, innovative and a flexible business model, therefore many existing private limited companies and partnership firms are taking initiatives to get themselves converted into LLPs.
Once incorporated or converted as LLP, it has to adhere to the provisions of the LLP Act and Rules framed thereunder and comply with the filings with the Registrar of Companies (ROC). The need was felt for guidance on the various compliance procedures relating to filing of various documents and e-forms relating to LLP.
In this regard, the Institute of Chartered Accountants of India (ICAI) through its Corporate Laws & Corporate Governance Committee (CL&CGC) is bringing this “Statutory Compliance Calendar of LLP, as per Limited Liability Partnership Act, 2008 and Rules thereunder” to provide detailed guidance on the procedural aspects relating to filing of various forms.