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....
There are many questions that might be arising while you want to register your LLP. Here we have made a compilation of the Most Frequently Asked questions. Q1) What is the full form of LLP? Ans. The full form of LLP is a Limited Liability Partnership. Q2) What is Limited Liability Partnership? Ans. LLP is an alternative […]
Do you own an LLP? Do you want to close down your LLP? there are many questions that might be arising about LLP Strike off in your mind. Here we have made a compilation of the Most Frequently Asked questions.
Post my article on Conversion of Company into LLP, I was asked lot of question on the tax implication after conversion. I have made an attempt to explain here some provisions related to that. Hope I clarify some doubts.
Limited Liability Partnership Incorporation as Per Chapter III of Limited Liability Partnership, Act 2008 And LLP Second Amendment Rules, 2018. LIMITED LIABILITY PARTNERSHIP A Limited Liability Partnership is a body corporate formed and incorporated under this Act and is a legal entity separate from that of its partners. It shall have perpetual succession (partners may […]
Limited Liability partnership (LLP) is hybrid of partnership and company. It is a partnership but comes with limited liability i.e. in the case of dissolution of business the partner’s personal property is not put at stake, only the property owned by business are attached. In India, it is introduced in 2008. The Limited Liability Partnership Act […]
Article explains LLP Act 2008, Need of Limited Liability Partnership, Object of the Limited Liability Partnership Act, 2008, What is Limited Liability Partnership / what LLP means, Salient features of Limited Liability Partnership Act, 2008, Nature And Scope of LLP Act 2008, Partners in LLP, LLP registration / Incorporation and name of the LLP, Annual […]
A charge imposed by government on the annual earnings (either earned# or unearned$ Income) of a Person (Section 2(31)).
The LLP is one the popular mode of doing the business in India. The LLP Act has provided to convert a private limited company to LLP. The Income tax Act 1961 also has been amended by inserting the provisions related to such conversion. When there is transfer, from one person to another person, the transferor […]
Sub-Comparison of Private Limited Company and LLP Both the Private Limited Company and LLP (Limited Liability Partnership) are corporate forms of business structures, yet there is difference between the two. The company form of structure is older but the LLP is comparatively a modern structure introduced in the year 2008 to provide more flexibility to […]
Regional Director Vs Real Image LLP (NCLAT) Our Today’s article is about the Basic question that if an Indian LLP wants to process for the Amalgamation into a Indian Company, whether it required to obtain the registration under section 366 In the case of Regional Director, Southern Region, & Ors. V. Real Images LLP. If […]
