Corporate Law : This guide explains LLP registration, eligibility, costs, annual compliance, and the latest 2025-26 changes, including the new Sec...
Company Law : Discover why LLPs convert into Private Limited Companies to attract investors, introduce ESOPs, and access Startup India benefits....
Company Law : The article explains how converting an LLP into a Private Limited Company can enhance credibility, improve governance, and unlock ...
Corporate Law : NCLT approved an LLP merger after finding that the scheme enhanced financial flexibility, operational efficiency, and partner valu...
Corporate Law : A comprehensive guide to LLP Agreement stamp duty across all Indian states and UTs. Learn applicable rates, filing requirements, p...
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...
Corporate Law : Although the Scheme was sanctioned, the Tribunal clarified that the Income Tax Department remained free to investigate any tax imp...
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 ...
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....
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.
Dear friends, in this competitive market, when we start a new business then it requires huge capital investment (depending of nature of business segment) and trustworthy human resources to get success in our dream business. In most of the cases the entrepreneur has the vision and idea to start a new business but due shortage […]
Before we all start a profit-oriented business, we have a query which form of business you should go with? Since there are lot of options we get confused like Proprietorship, Partnership firm, LLP, One Person Company, Private Limited and Public Limited Companies. We have simplified the major forms of business existing in India; hence you […]
ICSI Request for extension of time limit for preparing the Statement of Account and Solvency and for getting the accounts audited in LLPs and subsequent filing thereof Institute of Company Secretary of India September 29, 2021 MCA: 2021 Shri Rajesh Verma, IAS Secretary Ministry of Corporate Affairs Government of India Shastri Bhawan Dr. Rajendra Prasad […]
Limited Liability Partnership (LLP) is a legal business structure. It is a partnership in which all partners have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner’s misconduct or negligence. Limited liability partnerships differ from ‘traditional’ business partnerships, and also […]
