Corporate Law : Learn who must file LLP annual returns in India and how to do it. Understand filing requirements, deadlines for Forms 11 and 8, an...
Corporate Law : Striking off an LLP dissolves it, but future claims may arise. It applies to LLPs inactive for 1+ years, with an Indemnity Bond en...
Corporate Law : Businesses opting for LLP registration in India benefit from lower compliance burdens, tax advantages, and an easier business setu...
Corporate Law : Avoid common LLP registration mistakes like invalid names, documentation errors, and compliance issues for a smooth registration p...
Company Law : Understand the process and requirements for converting an unlisted public company into an LLP, including necessary filings and doc...
Company Law : NFRA inspection of PwC firms (PWCA & PW& Co CA) reveals deficiencies in related party transaction verification and documentation, ...
CA, CS, CMA : ICAI releases 2024 guidelines for CA firm and LLP aggregation, enabling better collaboration and operational efficiency. Learn abo...
Company Law : The Ministry of Corporate Affairs monitors C-PACE’s efficiency in processing corporate and LLP strike-offs, improving processing...
Company Law : MCA enhances compliance and ease of doing business with decriminalization of 63 offences, faster company strike-offs, and streamli...
Corporate Law : NFRA recommends 40 Auditing Standards for LLPs under the LLP (Amendment) Act 2021, effective from April 2026, for approval by the ...
Income Tax : ITAT Mumbai held that where two houses joint together constitutes a single unit for residence, then exemption under section 54F of...
Goods and Services Tax : Discover how Madras High Court provides a chance for Tvl. Shriniwas Impex to contest penalty despite lacking E-way bills or lorry ...
Income Tax : ITAT Guwahati held that the exemption of 10(26) of the Income Tax Act is available to the individual members of the Scheduled Trib...
Corporate Law : Explore the Kerala High Courts judgment on Jeny Thankachans plea, challenging the precedence of the Insolvency and Bankruptcy Code...
Goods and Services Tax : In re AS&D Enterprise LLP (GST AAR Haryana) In general terms, an LLP is a viewed as an alternate corporate business model that...
Corporate Law : Arles Maxent Associates LLP and its designated partners fined ₹1.5 lakh by Chennai ROC for violating Section 13 of the LLP Act,...
CA, CS, CMA : Learn about ICAI's Aggregation of LLPs Guidelines 2024, detailing eligibility, governance, registration, and compliance for LLPs w...
Company Law : NFRA penalizes BSR & Associates LLP ₹10 crores for audit lapses in Coffee Day Enterprises audit. Partners face fines and debarme...
Corporate Law : Discover the latest amendments to LLP Rules by the MCA, effective from August 27, 2024. Learn about the new role of the Centre for...
Corporate Law : Registrar of Companies Andhra Pradesh issues notice for removal of 93 LLP names from the register. Learn more about the notice and...
Limited Liability Partnership (LLP) LLP denotes as Limited Liability Partnership. Limited Liability Partnership (LLP) is the combination of Partnership & Private Limited Company. It is separate legal entity & juristic person who is establish under the act. Limited Liability Partnership Act, 2008 Contains the rules & regulations related to limited liability Partnership (LLP). The minimum […]
Assessee LLP had failed to satisfy clause (e) of the proviso of Sec. 47(xiiib), therefore, the ‘transfer‘of the capital assets on the conversion of the private limited company into a LLP was to be regarded as a ‘transfer‘within the meaning of Sec. 45 and also, there was no occasion for invoking the provisions of Sec. 47A(4).
This article covers the Mandatory Compliances to be followed by a LLP under Registrar of Companies, Ministry of Corporate Affairs, mentioned under LLP Act, 2008 and Income Tax Act, 1961 including Tax audit provisions. Some key points are also given regarding LLP ♦ Definition(s) Define Limited Liability Partnership (LLP) u/s 2(n) of LLP Act 2008: […]
The Income-tax Act, 1961 provides for specific exemption from capital gains on conversion of a company into Limited Liability Partnership. Limited Liability Partnership (LLP) is a hybrid entity combining advantages of both company and partnership firm.
Limited Liability Partnership (LLP) Incorporation – In Just Five Easy Steps In pursuance to the LLP (Second Amendment) Rules, 2018, Incorporation of LLP has become much easier than earlier. Filing of multiple forms for incorporation of LLP has been done away with. Limited Liability Partnership (Second Amendment) Rules 2018 containing the relevant revised rules and […]
Designed with the advantages of a flexible organisational structure, perpetual succession, limited liability and tax efficient distribution of profits to partners, Limited Liability Partnerships (LLPs) have become one of the most popular modes of doing business in India. With greater clarity in the government’s policy towards LLPs and efforts to promote foreign funding in LLPs, […]
Ministry of corporate affairs, after the initiative of ease of doing business (EODB), reforms through:- ♣ SPICe ( Simplified Performa for incorporating company electronically) ♣ RUN ( Reserve Unique Name) For starting new business, has now introduced another major reform by way of process reengineering of incorporation of Limited Liability Partnership on a big scale. […]
Limited Liability Partnerships (LLP) are emerging ever since the introduction of the Companies Act, 2013 as it is a form of business entity, which allows individual partners to be free from the concept of joint liability of partners in a partnership firm. LLPs are preferred form of business as it is an alternative corporate business […]
In the wake of successfully initiating Ease of Doing Business (EoDB) reforms by introducing game changing, simplified and integrated procedures viz. SPICe (Simplified Proforma for Incorporating Company electronically), Reserve Unique Name (RUN) for starting a business in India, the Ministry of Corporate Affairs has now launched another major reform by way of process reengineering of incorporation of Limited Liability Partnership (LLP) as well on a big scale.
Today, one can start business by incorporating a company through an on-line process without visiting any Government office. This was achieved in January, 2016 by establishing Central Registry Centre (CRC) for on-line incorporation of the company and reserving its unique name.
