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....
Once you get the idea for your startup and have gone through with the market available for you, now you are ready for the next step. But wait, how will you do that? Implementing your idea by incorporating sole proprietary, partnership or Company! Well, this article is all about your Next move. Common legal mistakes […]
Any newly incorporated Limited Liability Partnership (LLP) is required to provide a registered office while registering itself with the Registrar of Company (ROC) at least to receive and make correspondences. Then, once the LLP is registered there might be situations where the registered office of the LLP is shifted from one state to another i.e. […]
A Limited Liability Partnership (LLP) can be said to be a hybrid of the Company and a partnership firm. It provides for the advantages of both. At the time of incorporation, the Limited Liability Partnership is required to submit the details of its registered office. It might be the possibility that the partners intend to […]
Article explains Nature of Limited Liability Partnership (LLP), Advantages of Limited Liability Partnership (LLP) Disadvantages of Limited Liability Partnership (LLP), Procedure for Incorporation of LLP, Limited Liability Partnership Agreement (LLP Agreement/Deed) and Some of the Essential Clause in Limited Liability Partnership Agreement (LLP). LLP is a corporate business vehicle that enables professional expertise and entrepreneurial […]
The Limited Liability Partnership is governed primarily by the provisions of the Limited Partnership Act, 2008 (LLP Act, 2008) and secondary, by the clauses mentioned in the Limited Partnership Agreement. However, with respect to the addition or removal of the designated partner or partner in the Limited Liability Partnership, there is no restrictions as such […]
The concept of the Limited Liability Partnership (LLP) come to India in the year 2008. An LLP has the characteristics of both the partnership firm and company. It is the most preferred form of organization among entrepreneurs as it incorporates the benefits of both partnership firm and company into a single form of organization. LLPs […]
At the time of Limited Liability Partnership (LLP) incorporation, the partners have to provide the details of the main objects that shall be carried on by the LLP. The same has to be descriptively mentioned in the agreement as well. The LLP cannot carry on any business activities which are not mentioned in the agreement. […]
Today the market of India has shown more growth than any other nation across the world and watching this, businessmen who reside overseas are taking interest in doing business in India. The “Make in India” campaign promoted by the honorable chief minister of India Narendra Modi Ji encouraged foreign entities to do more business in […]
This article lays down the detailed procedure for striking off the LLP. As per Limited Liability Partnership Rules, 2009, Rule 37 (1) (b) any LLP may after following the below-mentioned process voluntarily apply to ROC for striking off its name from the register of LLP. STEP-1- Pre-Conditions for striking off LLP- 1. Not carrying […]
It has been decided to allow LLPs to file Form 8 (the Statement of Account and Solvency) for the Financial Year 2020-2021 without paying additional fees upto 30th December, 2021.
