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....
As we know that in partnership firm there is unlimited liability of every partner, and this may cause conflicts among them. Also, the firm have few numbers of member/partner and due to that more investment will not be there arises financial deficiency. These are the limitations of a partnership firm.
Discover the advantages of converting a company into a Limited Liability Partnership (LLP) in India. Learn about the legal framework, prerequisites, and the step-by-step process for conversion. Explore the tax advantages, simplified compliance, and the conditions for transferring assets and liabilities.
Learn about different types of business structures including sole proprietorship, partnership, LLP, private limited company, and Section 8 company, and discover how to choose the right structure that aligns with your startup’s goals and vision.
Article contains FAQs On Nature Of Limited Liability Partnership (LLP), Applicability Of The LLP Act, Partners And Designated Partners, LLP Agreement, Registration, Change In Partners, Partners’ Contribution And Transactions Of Partners With LLP, Liability Of Partners, Disclosure, Audit And Filing Requirements, Investigation Of Affairs Of LLPs And Role Of Government To Check Unscrupulous LLPs Etc., Taxation,
Comprehensive guide on how to incorporate a Limited Liability Partnership (LLP), converting existing businesses into an LLP, and key responsibilities of an LLP partner.
Explore the step-by-step process for incorporating a Limited Liability Partnership (LLP) in India under the Limited Liability Partnership Act, 2008. Learn about obtaining Digital Signature Certificates (DSC), Designated Partner Identification Numbers (DPIN), reserving a unique name, filing incorporation documents, paying registration fees, RoC approval, LLP Agreement drafting, and obtaining PAN/TAN. Ensure a smooth LLP formation with expert guidance.
Explore the taxation of LLP profits and partners withdrawals, addressing concerns about double taxation. Learn how LLPs are taxed as separate entities, paying tax on profits at the entity level. Discover that partners can withdraw profits without facing double taxation, as the LLPs tax payment covers the individual taxation of partners share of income. Gain insights into the taxation framework, allowing informed decisions on managing LLP profits and withdrawals.
Learn about filing Form 3 LLP for initial LLP Agreement and changes in LLP Agreement. Understand purposes, eligibility, and FAQs for smooth filing. Get insights into linked filings, editing details, and error resolution in Form 3 LLP. Simplify LLP compliance with accurate information.
Explore the comprehensive guide to converting a Limited Liability Partnership (LLP) into a Private Limited Company (PLC) under the provisions of the Companies Act 2013. Learn about the eligibility criteria, step-by-step procedures, and post-conversion compliances involved in the conversion process. Understand the advantages, opportunities, and legal requirements for a successful transition. Consult professional experts and legal advisors for efficient navigation through the conversion process.
Understand the legal requirements and procedure for changing the capital contribution of your LLP. Follow the steps, obtain partner consent, and file the supplementary LLP agreement seamlessly. Expert assistance available.
