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....
For the purposes of the proviso to sub-section (1) of section 58 of the Act, where the firm has been converted into limited liability partnership, an intimation of such conversion to the concerned Registrar of Firms shall be given in Form 14 within fifteen days of the date of registration of the Limited Liability Partnership
In this article I will be discussing three forms of business in India and comparison of the same with each other so that those who are deciding to start a new business can compare the same with each other. These three types are as follows :- Limited Liability Partnership (LLP) , Private Limited Company, One Person Company (OPC)
Small and Medium Enterprises (SMEs) can function as LLP. LLP is suitable for service sector especially for the professionals like Company Secretaries, Chartered Accountants, Lawyers, Cost Accountants, etc.
A careful reading of Section 56(2)(viia) lay down the following essential ingredients for the taxability of unlisted shares received by closely held company or firm or LLP as the case may be: (1). The shares (equity or preference) received, on or after 1-6-2010, are shares of a company in which the public is not substantially interested;
Clause (xiiib) of section 47 read with sub-section (4) of section 47A of the Income Tax Act, 1961, inserted by the Finance Act, 2010, with effect from assessment year 2011-12 provide that the transfer of a capital asset or intangible asset to LLP or any transfer of share or shares held in the company by a shareholder on conversion of a private company
Section 58(4) of the LLP Act, 2008, provides that notwithstanding anything contained in any other law for the time being in force, on and from the date of registration specified in the certificate of registration issued under the Third Schedule— (a) there shall be a limited liability partnership by the name specified in the certificate of registration registered under this Act;
Limited Liability Partnership is a partnership where some or all partners have limited liabilities which may depend on the jurisdiction. It is basically the combination of advantageous features of both partnership and company form of organisation. LLP has introduced in India via Limited Liability Partnership Act, 2008.
CS Deepak Pratap Singh The Government of India has introduced various types of business structures for doing business. An entrepreneur can choose one from various business structures available according to their suitability. These are Proprietorship, Firm, AOP, One Person Company, Private Limited Companies, Public Limited Companies, Limited Liability Partnerships etc. A Private Limited Company or […]
LLP is defined as partnership formed and registered under Limited Liability Partnership Act is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP can continue its existence irrespective of changes in partners.
Answer is yes, we do have. After introduction of Alternate Minimum Tax (hereinafter referred as the ‘AMT’) by Finance Act 2012 on ‘Limited Liabilities Partnership’ (hereinafter referred as the ‘LLP’) also many professional/corporate/promoters has dispensed with an idea for formation of LLP, as after amendment no tangible benefit could be visualize, other than some cost […]
