LLP

Important Statutory due dates for LLP Annual Filing FY 2020-21

Corporate Law - A compilation of all the ROC (LLP) Filing Due dates for Financial Year 2020-21 (AY 2021-22) A Limited Liability Partnership is a business structure that requires a minimum number of two members and there is no limit on the maximum number of members. The liability of the members of the Limited Liability Partnership is limited. […]...

Read More

Closing of LLP – Provisions, Process and FAQs

Corporate Law - Striking off the name of defunct Limited Liability Partnership (LLP) is the simplest way to close the LLP with no assets and no liabilities. In this method, designated partners are need to first settle the accounts of LLP by selling the assets, if any and pay off the liabilities, if any. Based on nil assets […]...

Read More

LLP- Advantages, Incorporation Procedure, Compliance, Tax Liability

Corporate Law - A Limited Liability Partnership (LLP) is governed under LLP act 2008, LLP is a partnership in which liability of all or some members is limited. hence, no member shall liable for the acts of other partner except in case of fraud. LLP shall be body corporate and a legal entity separate from its partner. ADVANTAGES […]...

Read More

Can An LLP Do Financial Activity

Corporate Law - Limited Liability Partnership is a business entity which is registered with the Ministry of Corporate Affairs (MCA), it is also a body corporate and can do any business activities which are legal in India. The business includes trading, manufacturing, service provider, professional services etc. but certain activities cannot be adopted wi...

Read More

Process for Conversion of LLP into Company

Corporate Law - Introduction A Limited Liability Partnership (LLP) is a corporate business form combining features of both Company and traditional partnership firms. It offers the benefits of a limited liability to the partners. The concept of LLP was emerged and got place in statutes in 2008 while the concept of private company is much older. LLPs offer...

Read More

1.55 lakh companies & 42186 LLP incorporated in FY 2020-21

Corporate Law - MCA registers 1.55 lakh company incorporations in FY 2020-21, an increase of 27% year-on-year 42,186 Limited Liability Partnerships got incorporated in FY 2020-21, an increase of 17% year-on-year During the Financial Year 2020-21, Ministry of Corporate Affairs (MCA) registered more than 1.55 Lakh company incorporations as compared to 1.22...

Read More

Extending deadline of CFSS and LLP Settlement Scheme

Corporate Law - Ministry of Corporate Affairs Extending deadline of Companies Fresh Start Scheme and LLP Settlement Scheme Posted On: 23 MAR 2021 The Ministry of Corporate Affairs (MCA) through the General Circular no. 12/2020 dated 30.3.2020, launched the “Companies Fresh Start Scheme, 2020 which inter- alia provided opportunity to companies to ma...

Read More

8 section of Companies Act to be made applicable to LLP Soon

Corporate Law - Ministry of Corporate Affairs is Planning for extension of few of the provisions of the Companies Act, 2013 to the LLP Act, 2008 and has issued an announcement regarding planning of extension of few of the provisions of the Companies Act, 2013 with some modifications and adaptations, to the LLP Act, 2008 vide its power […]...

Read More

Schemes launched by MCA during COVID-19 pandemic

Corporate Law - MCA has raised the threshold of default under section 4 of Insolvency and Bankruptcy Code (IBC) to Rs. 1 crore from the existing threshold of Rs. 1 lakh vide notification dated 24.03.2020....

Read More

MCA initiates process of De-criminalisation of compoundable offences of LLP

Corporate Law - MCA decided to initiate the process of decriminalization of compoundable offences under the limited liability partnership (LLP) Act, 2008, for greater ease of doing business for law abiding LLPs....

Read More

LLP can enter into a partnership with individual or other persons

Jayamma Xavier Vs Registrar of Firms (Kerala High Court) - Jayamma Xavier Vs Registrar of Firms (Kerala High Court) Section 4 of the Partnership Act permits Constitution of a firm or partnership between one or more persons. In this case the partnership deed was executed between an individual and an LLP which is a body corporate having a legal entity and com...

Read More

LLP Settlement Scheme, 2020 benefit cannot be denied on Form uploaded pursuant to Court Order

Handoo & Handoo Legal Consultants & ANR. Vs. Union of India (Delhi High Court) - Handoo & Handoo Legal Consultants Vs. Union of India (Delhi High Court) The plea of the petitioner(s) in the present applications is that they have been denied the benefit of the Scheme only on the ground that they uploaded the forms pursuant to the order dated 06.12.2018 of this Court. The lear...

Read More

Conversion of Private Limited company into LLP to be treated as transfer or not

ACIT Vs Celerity Power LLP (ITAT Mumbai) - Assessee LLP had failed to satisfy clause (e) of the proviso of Sec. 47(xiiib), therefore, the ‘transfer‘of the capital assets on the conversion of the private limited company into a LLP was to be regarded as a ‘transfer‘within the meaning of Sec. 45 and also, there was no occasion for invok...

Read More

No legal bar on merger of an Indian LLP with an Indian Company

M/s. Real Image LLP  Vs  M/s. Qube Cinema Technologies Private Limited (NCLT) - M/s. Real Image LLP  Vs  M/s. Qube Cinema Technologies Private Limited (NCLT) Legislative intention behind enacting both the LLP act 2008 and The Companies Act 2013 is to facilitate the ease of doing business and create a desirable business atmosphere for companies and LLPs. For this purpose, bo...

Read More

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....

Read More

List of 26 LLPs who applied for removal of name before ROC Chandigarh

Notification No. LLP-24/HP/Strike off/839 - (13/04/2021) - List of the LLPs which have made an application in Form 24 for striking off their respective names from the Register in pursuance to Rule 37 (1) (b) of the Limited Liability Partnership Rules, 2009....

Read More

MCA permits documents due for filing till 30.11.2020 under LLP Settlement Scheme

General Circular No. 37/2020 - (09/11/2020) - Timeline for filing of belated documents has been extended upto 30th November, 2020 due to Extension of LLP Settlement Scheme, 2020. General Circular No. 37/2020– MCA permits Any ‘defaulting LLP’ to tile belated documents, which were due for filing till 30th November, 2020 in accor...

Read More

LLP Settlement Scheme 2020 extended to 31.12.2020

General Circular No. 31/2020 - (28/09/2020) - MCA had introduced a new scheme known as the LLP Settlement Scheme, 2020 which was valid from 01.04.2020 to 13.06.2020 and was later extended till 30.09.2020. The Scheme has been further extended to 31.12.2020 to enable LLPs to make good their previous defaults. General Circular No. 31/2020 F. No. 1...

Read More

COVID-19 – Special relief Measures for Companies & LLP

General Circular No. 11/2020 - (24/03/2020) - In order to support and enable Companies and Limited Liability Partnerships (LLPs) in India to focus on taking necessary measures to address the COVID-19 threat, including the economic disruptions caused by it, the following measures have been implemented by the Ministry of Corporate Affairs to redu...

Read More

FM relaxes Tax & Regulatory Compliance in view of COVID-19 outbreak

Release ID: 1607942 - (24/03/2020) - Extend last date for income tax returns for (FY 18-19) to 30th June, 2020. Aadhaar-PAN linking date to be extended to 30th June, 2020....

Read More

Recent Posts in "LLP"

List of 26 LLPs who applied for removal of name before ROC Chandigarh

Notification No. LLP-24/HP/Strike off/839 13/04/2021

List of the LLPs which have made an application in Form 24 for striking off their respective names from the Register in pursuance to Rule 37 (1) (b) of the Limited Liability Partnership Rules, 2009....

Read More

Important Statutory due dates for LLP Annual Filing FY 2020-21

A compilation of all the ROC (LLP) Filing Due dates for Financial Year 2020-21 (AY 2021-22) A Limited Liability Partnership is a business structure that requires a minimum number of two members and there is no limit on the maximum number of members. The liability of the members of the Limited Liability Partnership is limited. […]...

Read More
Posted Under: Corporate Law |

LLP can enter into a partnership with individual or other persons

Jayamma Xavier Vs Registrar of Firms (Kerala High Court)

Jayamma Xavier Vs Registrar of Firms (Kerala High Court) Section 4 of the Partnership Act permits Constitution of a firm or partnership between one or more persons. In this case the partnership deed was executed between an individual and an LLP which is a body corporate having a legal entity and coming within the definition […]...

Read More

Closing of LLP – Provisions, Process and FAQs

Striking off the name of defunct Limited Liability Partnership (LLP) is the simplest way to close the LLP with no assets and no liabilities. In this method, designated partners are need to first settle the accounts of LLP by selling the assets, if any and pay off the liabilities, if any. Based on nil assets […]...

Read More
Posted Under: Corporate Law |

LLP- Advantages, Incorporation Procedure, Compliance, Tax Liability

A Limited Liability Partnership (LLP) is governed under LLP act 2008, LLP is a partnership in which liability of all or some members is limited. hence, no member shall liable for the acts of other partner except in case of fraud. LLP shall be body corporate and a legal entity separate from its partner. ADVANTAGES […]...

Read More
Posted Under: Corporate Law |

Can An LLP Do Financial Activity

Limited Liability Partnership is a business entity which is registered with the Ministry of Corporate Affairs (MCA), it is also a body corporate and can do any business activities which are legal in India. The business includes trading, manufacturing, service provider, professional services etc. but certain activities cannot be adopted wi...

Read More
Posted Under: Corporate Law |

1.55 lakh companies & 42186 LLP incorporated in FY 2020-21

MCA registers 1.55 lakh company incorporations in FY 2020-21, an increase of 27% year-on-year 42,186 Limited Liability Partnerships got incorporated in FY 2020-21, an increase of 17% year-on-year During the Financial Year 2020-21, Ministry of Corporate Affairs (MCA) registered more than 1.55 Lakh company incorporations as compared to 1.22...

Read More
Posted Under: Corporate Law |

Process for Conversion of LLP into Company

Introduction A Limited Liability Partnership (LLP) is a corporate business form combining features of both Company and traditional partnership firms. It offers the benefits of a limited liability to the partners. The concept of LLP was emerged and got place in statutes in 2008 while the concept of private company is much older. LLPs offer...

Read More
Posted Under: Corporate Law |

Conversion of Private Limited Company into LLP in India

Limited Liability Partnerships (LLP) are emerging as a popular business structure for their multiple advantages. It is simpler yet corporate form of business where in all good features of both Company and Partnership firm are present. It is an alternative corporate business form that gives the benefits of limited liability of a company an...

Read More
Posted Under: Corporate Law |

Incorporation of Limited Liability Partnership- Procedure & FAQs

Overview of LLP? LLP is an alternative corporate business form that it gives the benefits of limited liability of a company and the flexibility of a partnership. Thus LLP is a hybrid form of Company and Partnership. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts […]...

Read More
Posted Under: Corporate Law |

Browse All Categories

CA, CS, CMA (5,331)
Company Law (7,099)
Custom Duty (8,392)
DGFT (4,506)
Excise Duty (4,467)
Fema / RBI (4,613)
Finance (4,880)
Income Tax (36,522)
SEBI (3,896)
Service Tax (3,695)

Search Posts by Date

April 2021
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930