Corporate Law : LLP Form 11 must be filed by every LLP, including inactive or non-operational entities, under the LLP Act, 2008. The guide explain...
Income Tax : The Finance Act, 2024 has inserted a new section, 194T, for TDS deduction by partnership firms/Limited Liability Partnerships (LLP...
Corporate Law : The amendment introduces a new category of IFSC-based LLPs with specific regulatory provisions. It enables foreign currency operat...
Corporate Law : The issue highlights mandatory annual return filing for LLPs. The key takeaway is that delayed filing attracts heavy daily penalti...
Corporate Law : Comparative analysis of Company, Partnership Firm, and Trust in India covering tax rates, deductions, compliance, and suitability ...
CA, CS, CMA : ICAI introduces phased applicability for new financial reporting guidance. Larger entities must comply first, followed by all enti...
Company Law : Authorities rejected several name reservation applications because they were phonetically or structurally similar to existing enti...
CA, CS, CMA : The draft policy proposes a detailed scoring framework to empanel CA firms and LLPs for government audits based on capacity, exper...
CA, CS, CMA : ICAI provides a one-year relaxation for two new Guidance Notes on financial statements for non-corporate entities and LLPs, making...
Company Law : The Ministry of Corporate Affairs' C-PACE initiative has reduced the time for voluntary company closures from over 2 years to unde...
Income Tax : The tribunal noted that the firm had no business activity and only earned interest income. It held that unexplained income cannot ...
Income Tax : The issue was taxation of LLP partner’s remuneration without applying Sections 28(v) and 40(b). The High Court set aside the ass...
Income Tax : The ITAT Chennai held that ₹1.98 crore received for reduction in profit-sharing ratio in CRCL LLP was not goodwill or taxable in...
Corporate Law : NCLT Ahmedabad held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency ...
Income Tax : ITAT Ahmedabad held that addition by adopting Percentage Completion Method cannot be sustained as department already accepted Proj...
Company Law : The issue involved duplication of DIN due to ignorance during incorporation. The authority imposed penalty despite voluntary discl...
Company Law : The MCA has revised the list of Regional Directors authorized for LLP matters under Section 458 of the Companies Act. The amendmen...
Corporate Law : The Central Government has superseded the 2022 notification and reassigned state- and district-wise jurisdiction to specific Regis...
Corporate Law : The Government has deferred the commencement date of a notification issued under the LLP Act. The effective date now shifts from J...
Corporate Law : MCA amended its notification to postpone implementation of the reorganised Registrar of Companies framework for LLPs....
LLP Form 11 must be filed by every LLP, including inactive or non-operational entities, under the LLP Act, 2008. The guide explains due dates, filing requirements, fees, and penalties for delayed compliance.
The Finance Act, 2024 has inserted a new section, 194T, for TDS deduction by partnership firms/Limited Liability Partnerships (LLPs). Section 194T takes effect from 1st April, 2025 (AY 2026-27), to bring payments such as salary, remuneration, commission, bonus and interest (whether on capital or on loan) by a partnership firm/LLP to its partners under the […]
The amendment introduces a new category of IFSC-based LLPs with specific regulatory provisions. It enables foreign currency operations and aligns LLPs with global financial practices.
The issue highlights mandatory annual return filing for LLPs. The key takeaway is that delayed filing attracts heavy daily penalties, making timely compliance essential.
Illustrative formats for financial statements of non-corporate entities as per ICAI Guidance Note applicable from FY 2025–26.
ICAI introduces phased applicability for new financial reporting guidance. Larger entities must comply first, followed by all entities from 2026.
Comparative analysis of Company, Partnership Firm, and Trust in India covering tax rates, deductions, compliance, and suitability to help choose the most tax-efficient business structure.
The issue involved duplication of DIN due to ignorance during incorporation. The authority imposed penalty despite voluntary disclosure, reinforcing strict compliance requirements.
Conversion from a private company to LLP is permitted when eligibility conditions such as no outstanding loans or disputes are satisfied. The process involves board approval, shareholder resolution, and filings with the Registrar of Companies.
Authorities rejected several name reservation applications because they were phonetically or structurally similar to existing entities. The guidance emphasizes selecting unique names and complying with Companies Act naming rules.
