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....
I am directed to say that a number of representations have been received in the Ministry to the effect that the Registrar of Companies and the Registrar of LLPs are incorporating the companies and LLPs in contravention to the provisions of the Architect Act, 1972 that the Council of Architect (CoA). In terms of Sections 36 and 37 of the Architects Act, 1972 as well as Rules and Regulations framed thereunder only an architect registered with the Council of Architecture or a firm of Architects (a partnership firm under the Partnership Act, 1932, comprising of all registered architects) can represent itself as an architect or use the title and style of architect of practicing the profession of an Architect in India with the exception of a landscape architect and naval architect. The matter is under examination in consultation with the Department of Legal Affairs.
Process to Start Limited Liability Partnership Step 1:- Acquire the DPIN of desired Partners Step 2:- Acquire the Digital Signature of one of the desired Partner Step 3:- Registered DPIN and DSC with LLP website Step 4:- Check the availability of name from which partners want to make LLP
The salient features of LLP Act, 2008, inter alia, are as follows: 1. It is a body corporate with separate legal entity from its partners. The mutual rights and duties of the partners of an LLP are governed by LLP Agreement. 2. LLP is liable to the extent of its assets. Partner’s liability is limited to the extent of agreed contribution (capital) in the LLP Agreement. 3. No partner is liable on account of the independent or unauthorized action of other partners or for their misconduct.
LLPs are a hybrid form of business enterprise which is a combination of a partnership firm and a company. A LLP is considered as a body corporate like any after company, enjoys tax treatment like a partnership firm, limits the liability of the partners to the extent of contribution as in case of company and entry or exit of partners is simpler. A LLP is easier to form and close with lesser regulatory compliances. World over, LLPs are a successful investment and business vehicle . LLPs are considered as an efficient alternative business model which provides the best of both worlds – a firm and a company. The LLP has lesser compliance requirements than a company and also lesser liability than a partnership firm.
Those who wish to form a LLP should apply for DIN (http://www.mca.gov.in/MCA21/Din.html). Once DIN is obtained, user can link DIN & DSC in the DSC association page. If a person already has a DIN, the same can be used for forming LLP.
We have received requests from various stock exchanges to permit Limited Liability Partnerships (LLPs) to be admitted as members of stock exchanges so as to enable them to get registration as stock broker under SEBI (Stock brokers and Sub-brokers) Regulations, 1992.
Pursuant to notice of the Ministry (Draft Notification for DIN & DPIN Rules), Form 7 (Application for allotment of Designated Partner Identification Number) & Form 10 (Intimation of changes in particulars by Designated Partners) are discontinued from LLP Portal. Those who wish to form a LLP should apply for DIN ( http://www.mca.gov.in/MCA21/Din.html ). Once DIN is obtained, user can link DIN & DSC in the DSC association page. If a person already has a DIN, the same can be used for forming LLP.
These rules may be called the Limited Liability Partnership Rules, 2009 (Amendment) Rules, 2011. Designated Partnership Identification Number (DPIN) means an identification number which the Central Government may allot to any individual, intending to be appointed as designated partner of a Limited Liability Partnership for the purpose of his identification as such, and includes Directors Identification Number (DIN) issued under sections 266A, 266B and 266E of the Companies Act, 1956 and rules made thereunder.
The government has taken a cautious approach towards allowing FDI in the hitherto untried LLP format of business, mostly preferred by professionals, experts said today. The government has allowed FDI in Limited Liability Partnership (LLPs) only in sectors where 100 per cent FDI is allowed under the automatic route. But still government approval is must for FDI in LLPs even in sectors where 100 per cent overseas investment is allowed.
Review of the policy on Foreign Direct Investment- Allowing FDI in Limited Liability Partnership firms-amendment to paragraphs2.1, 3.3.5 and 3.3.6 of ‘Circular I of 2011-Consolidated FDI Policy’. The Government of India has reviewed the extant policy on FDI and decided to permit FDI in LLP firms, subject to specified conditions.
