LLP

Shifting of registered office of Limited Liability Partnership

Corporate Law - The registered office of an Limited Liability Partnership (LLP) is the official address of the principal place of business of the entity for all the official communications and notice. Further, it is mandatory for an LLP to maintain books of accounts at its registered office. There might be a situation when the LLP intends to […]...

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Difference between LLP and One Person Company

Corporate Law - Difference between Limited Liability Partnership (LLP) and One Person Company (OPC) Choice of Business- An Important Decision Selection of the form of business entity is one of the most important decisions before starting a business. This decision is required to be revisited periodically as the business develops. In this Edition we the di...

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Incorporation of a LLP

Corporate Law - Incorporation of a LLP What is LLP? LLP is a body corporate formed and incorporated under LLP Act, 2008. It is a legal and separate entity from that of its partners. Benefits of LLP: LLP has a benefit of being a separate Legal Entity and liability and responsibility of every partner are limited to the […]...

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Taxability of Dividend under new tax regime

Corporate Law - A. Existing Provisions relating to dividend taxation: (i) Tax implication in the hands of company: Under the existing laws, even though dividend constituted income in the hands of the shareholders, the tax on such dividend was payable by the company which declared dividend, @ 15% of the gross dividend under section 115-O (plus surcharge a...

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Conversion of LLP Into Company- Legal Provisions

Corporate Law - Article explains Conversion of LLP into Company under Companies Act, 2013 and explains about Companies capable of being registered Relevant Section 366, Resolution in General Meeting required to be passed Section 366(2), Rule 3(1) of the Companies (Authorized to Register) Rules 2014, Information and documents required to be filed with reg...

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How to View Public Documents on MCA Website

Corporate Law - In order to view the documents, Forms filed by the Company on MCA Portal service of “View Public Documents” is made available by the MCA. If user has to only view the Public Documents then the logging in on the MCA Portal is not required, however if user wants to download the Public Documents then […]...

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Updated Contact Number of MCA Helpdesk

Corporate Law - MCA has released Updated Contact Number of  Helpdesk from 17/07/2020 onwards for queries related to Company Name Availability and Company Incorporation and for queries related to Company or LLP e-Filings, Payments or View Public Document (VPD). Updated Contact Number of Ministry of Corporate Affairs (MCA) Helpdesk from 17/07/2020 onwards...

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ICSI on Company Affirmation of Readiness towards COVID-19

Corporate Law - MCA has deployed a simple web form for companies/LLPs to confirm their readiness to deal with the COVID-19 threat. The web form named CAR (Company Affirmation of Readiness towards COVID-19) is required to be filed by authorized signatory of company/LLP....

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No penalty or enforcement related action for Form CAR

Corporate Law - Companies Affirmation of Readiness towards COVID-19 Stakeholders may please note that there is no fee application for Form CAR (Companies Affirmation of Readiness towards COVID-19). It may be noted  that this form is a purely confidence building measure to assess the readiness of the companies to deal with COVID-19 threat in India. As Su...

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COVID-19- Companies & LLPs to file web Form CAR

Corporate Law - The web form named CAR. (Company Affirmation of Readiness towards COVID-19) should be filed by an authorized signatory of Companies & LLPs. CAR-2020 shall be deployed on the 23rd of March, 2020....

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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...

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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 (NCLI) - M/s. Real Image LLP  Vs  M/s. Qube Cinema Technologies Private Limited (NCLI) 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...

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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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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...

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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....

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LLP settlement Scheme, 2020- Important Points and Provisions

MCA Circular no. 6/2020 - LLP settlement Scheme, 2020 MCA vide its circular dated 4th March, 2020 has prescribed the LLP settlement Scheme, 2020 for those LLPs which have defaulted in filing of Form-3, Form-4, Form-8 and Form -11 (Details of Forms are mentioned below) by giving a one-time relaxation in additional fees to the...

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Web form CAR- Board meetings with physical presence of directors relaxed -MCA

D.O. No. Secy(MCA)/COVID-19/1/2020 - (19/03/2020) - Government in the Ministry of Corporate Affairs has relaxed the rules with respect to meetings of Board and dispensed with the necessity of holding physical meetings on matters relating to approval of financial statement, board report, restructuring etc. upto 30th June, 2020. We are also examining a...

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LLP settlement Scheme, 2020- For Defaulting LLPs

General Circular No. 06/2020 - (04/03/2020) - LLP settlement Scheme, 2020 launched ; Shall allow a One-time condonation of delay in filing statutorily required documents with the Registrar. LLP settlement Scheme, 2020 shall come into force on the 16th March, 2020 and shall remain in force up to 13th June, 2020. It has been observed that due to ...

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Recent Posts in "LLP"

Shifting of registered office of Limited Liability Partnership

The registered office of an Limited Liability Partnership (LLP) is the official address of the principal place of business of the entity for all the official communications and notice. Further, it is mandatory for an LLP to maintain books of accounts at its registered office. There might be a situation when the LLP intends to […]...

Read More
Posted Under: Company Law |

How to View Public Documents on MCA Website

In order to view the documents, Forms filed by the Company on MCA Portal service of “View Public Documents” is made available by the MCA. If user has to only view the Public Documents then the logging in on the MCA Portal is not required, however if user wants to download the Public Documents then […]...

Read More
Posted Under: Company Law |

Difference between LLP and One Person Company

Difference between Limited Liability Partnership (LLP) and One Person Company (OPC) Choice of Business- An Important Decision Selection of the form of business entity is one of the most important decisions before starting a business. This decision is required to be revisited periodically as the business develops. In this Edition we the di...

Read More
Posted Under: Company Law |

Incorporation of a LLP

Incorporation of a LLP What is LLP? LLP is a body corporate formed and incorporated under LLP Act, 2008. It is a legal and separate entity from that of its partners. Benefits of LLP: LLP has a benefit of being a separate Legal Entity and liability and responsibility of every partner are limited to the […]...

Read More
Posted Under: Company Law |

Taxability of Dividend under new tax regime

A. Existing Provisions relating to dividend taxation: (i) Tax implication in the hands of company: Under the existing laws, even though dividend constituted income in the hands of the shareholders, the tax on such dividend was payable by the company which declared dividend, @ 15% of the gross dividend under section 115-O (plus surcharge a...

Read More
Posted Under: Company Law |

Conversion of LLP Into Company- Legal Provisions

Article explains Conversion of LLP into Company under Companies Act, 2013 and explains about Companies capable of being registered Relevant Section 366, Resolution in General Meeting required to be passed Section 366(2), Rule 3(1) of the Companies (Authorized to Register) Rules 2014, Information and documents required to be filed with reg...

Read More
Posted Under: Company Law |

LLP Form 3 & 4 – Cases of filing separate or together

As per LLP Act, 2008, for any change in constitution of LLP, basically there are two forms need to be filed i.e. Form 4 and Form 3. Form 3 is required to be filed for Information with regard to limited liability partnership agreement and changes, if any, made therein. Form 4 is required to be filed […]...

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Posted Under: Company Law |

Return of Income & ITR Forms

Return of Income Sec 139 (1) of the Income Tax Act, 1961 This Section provides the compulsory return filing, on or before the due date, for the following category of person:- ♣ Every Company OR a partnership Firm (PF) OR a Limited Liability Partnership Firm (LLP). As per 3rd Proviso, they have to mandatory file […]...

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Posted Under: Company Law |

How to change Registered Office Address of LLP?

How to change Registered Office Address of LLP? A Limited Liability Partnership (LLP) is created as per the law, hence, it must regulate its day to day affairs according to the LLP Agreement, LLP Act, and the rules and regulations which are framed thereunder. In addition to the LLP Act, LLP is also subject to […]...

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Posted Under: Company Law |

Conversion of Partnership Firm/LLP into a Company

What is Partnership Firm/LLP? A partnership firm is an organization which is formed with two or more persons to run a business with a view to earn profit. Each member of such a group is known as partner and collectively known as partnership firm. These firms are governed by the Indian Partnership Act, 1932. A […]...

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Posted Under: Company Law |

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