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....
A large number of representations were received from various quarters for waiver of fee or condonation of delay and relaxations in additional fee on the ground of excessive financial burden. It is also noted that a large number of LLPs are not filing their due statutory documents which are required to be filed with the […]
WHAT WAS THE NEED TO INTRODUCE COMPANIES FRESH START SCHEME, 2020 (CFSS 2020) AND AMENDED THE LLP SETTLEMENT SCHEME, 2020 (LLP SCHEME 2020)? The Ministry of Corporate Affairs (MCA) vide its notification dated 30th March 2020 has given Companies Fresh Start Scheme, 2020 (CFSS 2020) and amended the LLP Settlement Scheme, 2020 (LLP Scheme 2020) to advance defaulting Companies/LLPs […]
There could be tax implications on the conversion of a Company into LLP (for transfer of business) in the hands of LLP and on its shareholders (for extinguishment of shares held in such Company). The Income-tax Act, 1961 (IT Act) contains specific provisions governing tax implications in case of conversion of a Private Limited Company […]
Revised Frequently Asked Questions on LLP Settlement Scheme, 2020 issued by the Ministry of Corporate Affairs, Government of India on 4th March, 2020 and modified as on 30th March, 2020 The Ministry of Corporate Affairs has provided a one-time opportunity to the LLPs to make good their default by filing pending documents and to serve […]
If the Defaulting LLP doesn’t take benefit of LLP Settlement Scheme – 2020, then the said LLPs have to file forms with additional fees as per Section 69 of Limited Liability Partnership Act, 2008 i.e. ₹ 100/- for each day of such delay in addition to any fee as is payable OR Registrar may Initiate Prosecution against Defaulting LLPs.
The Ministry of Corporate Affairs (‘MCA’) has introduced ‘COMPANIES FRESH START SCHEME 2020’ (CFSS-2020) to enable all companies registered in India to make good of any filing related defaults irrespective of the duration of default and make a fresh start as a fully compliant Indian entity. COMPANIES FRESH START SCHEME, 2020: Companies Act 2013, requires […]
AN INTRODUCTION Ministry of Corporate Affairs (MCA) introduced a scheme which gives an opportunity to the Limited Liability Partnership(LLP) to make all its pending compliances (including annual filing) without any additional fees. This means that the Limited Liability Partnership(LLP) can file the pending documents with only normal fees applicable to the Limited Liability Partnership(LLP) without […]
The concept of LLP, introduced in India through the Limited Liability Partnership Act, 2008 has become a popular form of business entity in India owing to its simplified procedures for registration and maintenance. LLPs allow many of the small and medium-sized to enjoy a separate legal entity, improve transferability and provide its promoters with limited […]
Introduction & Brief Background: In line with its circular dated March 24, 2020, the Ministry of Corporate Affairs (‘MCA’) has introduced Companies Fresh Start Scheme,2020 (‘CFSS Scheme’) vide circular no. 12/2020 and 13/2020 dated March 30, 2020 under Section 460 of the Companies Act, 2013 (“Act”) read with Section 403. Important Definitions under the Scheme: […]
List of Forms Eligible for Additional Fee Waiver Under Company Fresh Start Scheme, 2020 and LLP Settlement Scheme, 2020 The MCA vide its circular dated 30th March 2020 has issued Companies Fresh Start Scheme, 2020 to promote defaulting companies to make a fresh start on a clean slate and waive the additional fee as charged under section 403 of Companies […]
