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....
The Ministry of Corporate Affairs confirmed no plans for a new LLP Settlement Scheme. It detailed measures like STP forms, C-PACE, and CPC to improve the MCA-21 V3 portal.
Voluntary winding up of LLP, as the name suggests, is initiated by the partners themselves, not by a court or creditors. This gives you more control over the process, allowing for a smoother, more amicable dissolution.
New IT Bill 2025 raises effective tax on LLP long-term capital gains from 12.5% to 18.5%, expanding AMT scope regardless of deductions.
ITAT Ahmedabad held that addition by adopting Percentage Completion Method cannot be sustained as department already accepted Project Completion Method in earlier years. Accordingly, appeal allowed and addition set aside.
Excel Format of Financial Statements for Partnership Firm (Non-LLP) a comprehensive, user-friendly, and fully formula-driven format designed specifically for preparing the financial statements of partnership firms (other than LLPs)
Understand key differences between LLPs and Private Companies in India to choose the structure that fits your business goals, funding needs, and compliance capacity.
Understand the essential prerequisites and step-by-step procedure for converting a private company into a Limited Liability Partnership (LLP) in India.
Understand the step-by-step process for converting a private limited company into an LLP. Learn about eligibility, required forms (RUN-LLP, MGT-14, FiLLiP, Form 18, Form 3), and key considerations for this conversion.
Understand importance of timely LLP registration in India. Learn about limited liability, separate legal entity status, management flexibility, no minimum capital,
ITAT Chennai ruled in Gokulakrishna’s favor, deleting capital gains tax on funds received from a profit-sharing realignment during an LLP’s reconstitution. The court determined that a reduction in profit share for existing partners upon new partner admission does not constitute a taxable transfer of capital assets.
