LLP

Taxability on Conversion of Private Limited Company To LLP

Corporate Law - The LLP is one the popular mode of doing the business in India. The LLP Act has provided to convert a private limited company to LLP. The Income tax Act 1961 also has been amended by inserting the provisions related to such conversion. When there is transfer, from one person to another person, the transferor […]...

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Process of LLP Registration in INDIA

Corporate Law - A Limited Liability Partnership combines the advantages of both the Company and Partnership into a single form of organization. In an LLP one partner is not responsible or liable for another partner’s misconduct or negligence. In an LLP, all partners have limited liability for each individual’s protection within the partnership, simil...

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Taxation of Partnership Firms & LLP’s

Corporate Law - A charge imposed by government on the annual earnings (either earned# or unearned$ Income) of a Person (Section 2(31))....

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Registration Process For LLP

Corporate Law - Recently most entrepreneurs have started opting for Limited Liability Partnership, considering it has most positive features of Partnership and Companies. It is hybrid form which incorporates benefits of both partnership and companies. It has the following features: The liability of each partner is limited to the contribution mentio...

Read More

Taxation On Conversion Of Company Into LLP

Corporate Law - Post my article on Conversion of Company into LLP, I was asked lot of question on the tax implication after conversion. I have made an attempt to explain here some provisions related to that. Hope I clarify some doubts....

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29,403 companies registered as LLP on all India basis in FY 2016-17

Corporate Law - In FY 2016-17, 29,403 companies registered as LLP on all India basis The Limited Liability Partnership Rules, 2009 have been in force since 01.04.2009. The Limited Liability Partnership Rules provide for effectuating/implementing the provisions of Limited Liability Partnership Act, 2008. The Rules, inter-alia include procedures on incorpo...

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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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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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ROC Gwalior proposes to striking off of names of 70 LLPs (List Attached)

Public Notice No. RoC/Gwalior/LLP/Sec.75/ 4286 - (31/07/2017) - Notice is hereby given that the Registrar of Gwalior, (MP) has a reasonable cause to believe that That the following LLPs in List' A "(List of 70 Nos. of LLP) have not been carrying on any business or operation for a period of two immediately preceding financial years."...

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ROC West Bengal issues notice to 75 LLP for striking off name

Public Notice No./ROCWB/LLP/S-75/Public/1 - (25/07/2017) - Registrar has reasonable cause to believe that the Limited Liability Partnership (LLPs), as per Annexure, are not carrying on any business or operation for a period of two years or more as the LLPs have not filed any financial statements for the last two financial years....

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ROC Shillong SCN to 37 LLP for striking off names

Public Notice No.:RoC/Shill/LLP/Sec 75/ - (13/07/2017) - That the following LLPs in List A (List of 37 Nos. of LLPs) have not been carrying on any business or operation for a period of two immediately preceding financial years....

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ROC Odisha proposes to strike off name of 81 LLPs (List Attached)

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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Recent Posts in "LLP"

29,403 companies registered as LLP on all India basis in FY 2016-17

In FY 2016-17, 29,403 companies registered as LLP on all India basis The Limited Liability Partnership Rules, 2009 have been in force since 01.04.2009. The Limited Liability Partnership Rules provide for effectuating/implementing the provisions of Limited Liability Partnership Act, 2008. The Rules, inter-alia include procedures on incorpo...

Read More
Posted Under: Corporate Law |

Taxability on Conversion of Private Limited Company To LLP

The LLP is one the popular mode of doing the business in India. The LLP Act has provided to convert a private limited company to LLP. The Income tax Act 1961 also has been amended by inserting the provisions related to such conversion. When there is transfer, from one person to another person, the transferor […]...

Read More
Posted Under: Corporate Law |

Process of LLP Registration in INDIA

A Limited Liability Partnership combines the advantages of both the Company and Partnership into a single form of organization. In an LLP one partner is not responsible or liable for another partner’s misconduct or negligence. In an LLP, all partners have limited liability for each individual’s protection within the partnership, simil...

Read More
Posted Under: Corporate Law |

Taxation of Partnership Firms & LLP’s

A charge imposed by government on the annual earnings (either earned# or unearned$ Income) of a Person (Section 2(31))....

Read More
Posted Under: Corporate Law |

Registration Process For LLP

Recently most entrepreneurs have started opting for Limited Liability Partnership, considering it has most positive features of Partnership and Companies. It is hybrid form which incorporates benefits of both partnership and companies. It has the following features: The liability of each partner is limited to the contribution mentio...

Read More
Posted Under: Corporate Law |

Taxation On Conversion Of Company Into LLP

Post my article on Conversion of Company into LLP, I was asked lot of question on the tax implication after conversion. I have made an attempt to explain here some provisions related to that. Hope I clarify some doubts....

Read More
Posted Under: Corporate Law |

Hundreds of LLPs may be vanishing soon

After issuing of show cause notices[1] (SCNs) for striking of names of more than 3 lakh non-operating companies, the Registrar has now taken the same action for LLPs. It seems that government has decided to heavily come down on existence of non-operative Limited Liability Partnerships (‘LLPs’) or say fake firms which are causing signi...

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Posted Under: Corporate Law |

Change of Name of LLP- Forms and Documents to be filed

LIMITED LIABILITY PARTNERSHIP: Limited Liability Partnership (LLP) Act came into force for most part, on 31st March, 2009 followed by its Rules on 1st April, 2009. It is hybrid form which incorporates benefits of both partnership and companies. It has the following features: Separate legal entity in the eyes of Law. Cost of incorporation ...

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Posted Under: Corporate Law |

Admission, Cessation & Change in Designated Partner- Forms to be filed

LIMITED LIABILITY PARTNERSHIP INCORPORATION AND KEY POINTS: Limited Liability Partnership (LLP) Act came into force for most part, on 31st March, 2009 followed by its Rules on 1st April, 2009. It is hybrid form which incorporates benefits of both partnership and companies. It has the following features: Separate legal entity in the eyes o...

Read More
Posted Under: Corporate Law |

Conversion of Company into LLP

Conversion of Private Limited Company/Unlisted Public Company into LLP: Steps for Conversion of Company to Limited Liability Partnership 1) Obtain DIN No of all proposed Designated Partner/ Partner.*...

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Posted Under: Corporate Law |
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