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....
Section 55 of the LLP Act, 2008 deals with conversion of Partnership Firm into Limited Liability Partnership. As per the relevant provisions of the LLP Act, a partnership firm shall make an application for conversion of firm into a Limited Liability Partnership by filling web Form LLP RUN (Reserve Unique Name). Documents required for the […]
Purpose of Filing Form – 3 ↓ For Filing of Duly Executed LLP Agreement ↓ To the Registrar (ROC) Penalty of Non Filing of LLP Form – 3: In case LLP is not able to file the “LLP Agreement” in “Form-3” within 30 days of its Incorporation or any changes in agreement as the case […]
The following won’t be recognized as ‘transfer’, and hence, no capital gain to be arise on the same: -Any transfer of a capital asset or intangible asset by a private company or unlisted public company to a limited liability partnership. -Any transfer of a share or shares held in the company by a shareholder as […]
After LLP Incorporation is completed and if there is requirement for adding new Designated partner/Partners in LLP then need to follow below mentioned procedure: I. Consent of Partners To add a new Partner to an existing LLP, consent of all existing Partners is usually required. However, if the LLP agreement permits, single Partner can also […]
Article explanations about Acceptance From Designated Partners/Members/ Shareholder (section 73(2) (Companies Act, 2013), Loan from Director or a Relative of Director (Companies (Acceptance of Deposits) Rules, 2014 read with Section 73, Loan from another Company and Loan From Banks & Financial Institutions. SR NO. PARTICULARS LLP PRIVATE COMPANY PUBLIC COMPANY 1 Acceptance From Designated Partners/Members/ Shareholder […]
Limited Liability Partnership (LLP) – The Limited Liability Partnership Act 2008. In this article, we will discuss specific partner topics, LLP formation, partners and relationships, and their level of responsibility and partner contribution. Financial Audit / Disclosure, LLP Foreign, from Legal Element relating to Partnerships and LLP from CSEET Legal and Business Environment Subject. Also […]
As we all are aware of the fact that LLPs has fewer compliances and additional benefits as compared to the Private Limited Companies, an unregistered or a registered Partnership firm , hence in this Article I will make an effort to Explain the relevant provisions of Chapter X read with Schedule III of the LLP […]
(LLP Act, 2008) A. Introduction: Any Limited Liability Partnership (LLP) registered under the act Limited Liability Partnership Act, 2008 may change its name any time during its active status with the approval of register. B. The circumstance under which LLP could change its name: Section of LLP Act, 2008 Circumstance 17 The directions from Central Government […]
LLP Compliance & their Due Dates For Financial Year 2020-21 Under LLP Act 2008 MCA vide its general circular No 06/2021 dated 3rd May 2021 has been decided to grant additional time for filling of certain forms without any additional fee, which were/would be due for filling between 1st April 2021 to 31st May 2021, under the companies […]
Limited partnerships are an essential part of the CS Foundation business and legal environment. This topic is handled at all levels by CS (company secretary). LLP is included in the elements of the Partnership Act and LLP. As the Indian economy grew, the role of the entrepreneur as well as his technical and professional workforce […]
