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....
TO START A NEW BUSINESS, NO. OF QUESTION COME IN OUR MIND WHICH NEED TO KNOW BEFORE STARTING A BUSINESS AND TO GROW YOUR BUSINESS WITH LAW AND COMPLIANCE ANS ANSWERS TO ALL THAT QUESTIONS IN BELOW TABLE. BASIS Sole Proprietorship Partnership Firm Limited Liability Partnership (LLP) Private Limited Company Minimum Person involved Only one […]
SC enlarges the ambit of Limitation Act, 1963 for recovery of debts. Learn about the changes and implications of this landmark judgment.
In the Budget 2021, our hon’ble financial minister announced about Amendment in LLP Act. In continuation of same, Ministry of Corporate Affairs issued a press release on 03rd February 2021. MCA initiates process of De-criminalisation of compoundable offences of LLP Further in continuation of the same Wednesday, 28th July, 2021 Cabinet has passed LLP Amendment Bill, […]
A lot of Startups are emerging in India. So, it is important for them to know which form and structure of entity is the best for them. If you want to enjoy both the features of a partnership firm and a company, you should think of Limited Liability Partnership (LLP). LLP for Startups in India […]
(1) This Act may be called the Limited Liability Partnership (Amendment) Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.
LLP Amendment Bill 2021 In the Budget 2021, our hon’ble financial minister announced about Amendment in LLP Act. In continuation of same, Ministry of Corporate Affairs issued a press release on 03rd February 2021. MCA initiates process of De-criminalisation of compoundable offences of LLP Further in continuation of the same Wednesday, 28th July, 2021 Cabinet […]
Recently, the Central Board of Direct Taxes (CBDT) in April 2021 notified new ITR forms for the financial year 2021-2022. Later in May 2021, they extended the timeline for submitting direct tax compliances for the current financial year. In India, every individual has to file for income tax returns i.e. ITR in every financial year. […]
The Appellant contended that, being an LLP is not covered in definition of ‘body corporate’ and hence not liable to pay service tax under reverse charge mechanism (RCM), as applicable to a body corporate in terms of Notification No. 30/2012-ST dated June, 2012.
Limited Liability Partnership (Amendment) Act, 2021 After receiving the approval of Union Cabinet on 28th July, 2021, the Ministry of Corporate Affairs (MCA) had tabled the ‘Limited Liability Partnership (Amendment) Bill, 2021’, in the upper house of the Indian Parliament. On 4th August, 2021, the bill was passed by the upper house (Rajya Sabha). Applicability: […]
What is the LLP Amendment Bill 2021? ‘LLPs are becoming popular among startups. An amendment is being proposed to the LLP Act for the first time,’ said finance minister Nirmala Sitharaman Continuing efforts to foster ease of doing business as well as to encourage the startups ecosystem, the Cabinet has approved LLP Amendment Bill, 2021. […]
