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....
List of the LLPs which have made an application in Form 24 for striking off their respective names from the Register in pursuance to Rule 37 (1) (b) of the Limited Liability Partnership Rules, 2009.
Jayamma Xavier Vs Registrar of Firms (Kerala High Court) Section 4 of the Partnership Act permits Constitution of a firm or partnership between one or more persons. In this case the partnership deed was executed between an individual and an LLP which is a body corporate having a legal entity and coming within the definition […]
A Limited Liability Partnership (LLP) is governed under LLP act 2008, LLP is a partnership in which liability of all or some members is limited. hence, no member shall liable for the acts of other partner except in case of fraud. LLP shall be body corporate and a legal entity separate from its partner. ADVANTAGES […]
Kunhi Muhammed Etayattil Vs Asst. Registrar of Companies (Kerala High Court) HC remarked that,The facts of the case disclose a sorry picture of what can be described as a ‘system generated harassment’ aggravated by non application of mind by officials who leave everything to be dealt with by the system, thereby putting the common man […]
Limited Liability Partnership is a business entity which is registered with the Ministry of Corporate Affairs (MCA), it is also a body corporate and can do any business activities which are legal in India. The business includes trading, manufacturing, service provider, professional services etc. but certain activities cannot be adopted without prior approval of the […]
MCA registers 1.55 lakh company incorporations in FY 2020-21, an increase of 27% year-on-year 42,186 Limited Liability Partnerships got incorporated in FY 2020-21, an increase of 17% year-on-year During the Financial Year 2020-21, Ministry of Corporate Affairs (MCA) registered more than 1.55 Lakh company incorporations as compared to 1.22 Lakh companies during FY 2019-20, an […]
Introduction A Limited Liability Partnership (LLP) is a corporate business form combining features of both Company and traditional partnership firms. It offers the benefits of a limited liability to the partners. The concept of LLP was emerged and got place in statutes in 2008 while the concept of private company is much older. LLPs offer […]
Overview of LLP? LLP is an alternative corporate business form that it gives the benefits of limited liability of a company and the flexibility of a partnership. Thus LLP is a hybrid form of Company and Partnership. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts […]
The Limited Liability Partnership (LLPs) is an alternative corporate business vehicle that provides the benefits of limited liability but allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement. In order to provide greater ease of doing business in India to law abiding LLPs, it was […]
Ministry of Corporate Affairs Extending deadline of Companies Fresh Start Scheme and LLP Settlement Scheme Posted On: 23 MAR 2021 The Ministry of Corporate Affairs (MCA) through the General Circular no. 12/2020 dated 30.3.2020, launched the “Companies Fresh Start Scheme, 2020 which inter- alia provided opportunity to companies to make good any filing related defaults, […]
