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....
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.
Earlier, since January 2018; it was not possible to incorporate a Limited Liability Partnership (LLP) for persons not having DIN but the Ministry of Corporate Affairs has come up with the most awaited notification on 18th September, 2018 w.r.t. LLP incorporation in the same line as a Company vide Limited Liability Partnership (Second Amendment) Rules, […]
1. Process Re-engineering of LLP – Incorporation related forms – Precautions to be taken by professionals and users 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, […]
Mergers and acquisitions (M&A) are the transactions in which the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position.
Limited Liability Partnership (LLP) has become a preferable form of organization among entrepreneurs as it incorporates the benefits of both partnership firm and company into a single form of organization. It is governed by the provisions of Limited Liability Partnership Act, 2008.
Recent Amendments and Process Re-engineering Of LLP Incorporation
Ministry of Corporate affairs vide LLP (Second Amendment) Rules, 2018 dated 18.09.2018 brought manifolds changes in the process of incorporating LLP. 1. New form RUN-LLP Reserve Unique Name-Limited Liability Partnership (RUN-LLP).Form 1 has been replaced with RUN-LLP, where application for reserving the name of LLP has to be made 2. New form FiLLip Now for […]
