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....
Requirements for conversion into LLP Consent of all shareholders should be obtained for conversion into LLP. All the existing shareholders of the company become the designated partners of the LLP in order to save tax. Latest copy of Income tax return is to be filed with ROC. Consent of all creditors of the company is needed. No prosecution should have been initiated under the Companies Act.
PROCESS OF CONVERSION OF COMPANY INTO LLP A Private Company may convert into LLP in accordance with the procedure prescribed in the Third Schedule. Process as given below:
Concisely, to register a LLP anywhere in India, you need to first apply for a Designated Partner Identification Number (DPIN), which can be done by filing eForm for acquiring the DIN or DPIN. You would then need to acquire your Digital Signature Certificate and register the same on the portal. Thereafter, you need to get the LLP name approved by the Ministry. Once the LLP name is approved, you can register the LLP by filing the incorporation form.
For those who are designated partners or partners in an LLP, this is the time to pull up your socks. Annual filing is here! Two forms are to be filed annually, which are: Form 8: Statement of Accounts and Solvency Form 11: Annual Return
WHAT IS ONE PERSON COMPANY (OPC)? The concept of One Person Company [OPC] is a new vehicle/form of business, introduced by The Companies Act, 2013 [No.18 of 2013], thereby enabling Entrepreneur(s) carrying on the business in the Sole-Proprietor form of business to enter into a Corporate Framework. One Person Company is a hybrid of Sole-Proprietor […]
In exercise of the powers conferred by sub-section (1) of Section 67 of the Limited Liability Partnership Act, 2008 (6 of 2009), the Central Government hereby directs that the provisions of section 458 of the Companies Act, 2013 (18 of 2013), [except proviso to subsection (1)] shall apply to a limited liability partnership from the date of publication of this notification in the Official Gazette.
Limited Liability Partnerships (LLPs) are commercial vehicles which combine the features of partnership and company form of business .The concept of Limited Liability Partnership (LLP) has been introduced in India by way of Limited Liability Partnership Act, 2008 (notified on 31st March 2008).
What is LLP- LLP is a way between Company and Partnership. It takes into account the benefits of both i.e. less legal and regulatory formalities as compared to Company and a Corporate Entity form which is not in the case of Partnership. Exemption from Audit- Rule 24(8) exempt the LLP from the Audit of its accounts if its turnover does not exceed, in any financial year, Rs.40 lakhs or its contribution does not exceed Rs. 25 Lakhs.
Analysis on Service Tax RCM for LLPs/ Critical Analysis on Reverse Charges Mechanism in Service Tax for LLP after change in definition of Body Corporate
The Council at its 227th Meeting held at New Delhi on January 18, 2015 while approving the formation of LLPs by PCS granted general permission to the members in practice to: (a) become designated / active partner of a limited liability partnership (LLP) the objects of which include carrying out attestation services which fall within the scope of the profession of Company Secretaries irrespective of whether or not the practising member holds substantial interest in that LLP;
