Compliances of LLP and penalties for non compliance.
All LLPs registered under the LLP Act, 2008 need to file Annual Returns and Statement of Accounts for every Financial Year. It is mandatory for an LLP to file a return irrespective of whether it has done any business or not. There are three mandatory compliance requirements to be followed by LLPs.
Key Highlights of LLP (Amendment) Act, 2021
In the Budget 2021, our hon’ble financial minister announced about Amendment in LLP Act. In continuation of same, Ministry of Corporate Affairs issued a press release on 03rd February 2021...
Cabinet approves amendments to LLP Act 2008
Business owners, startups, professionals, and taxpayers dealing with Cabinet approves amendments should understand the applicable rules. Requirements can vary by turnover, entity type and activity, so it is best to confirm your specific case before proceeding.
Limited Liability Partnership (LLP) : Characteristics, Advantage and Disadvantages
LLP is a corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in a flexible, innovative, and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure...
Process of Name approval of LLP through "RUN-LLP (Reservation Unique Name-LLP)"
The Complete process of LLP incorporation comprises various steps. Here in this article, we will describe the most essential step which is the "Process of Name approval (Name reservation) of LLP"...
Compliance dues dates for Companies and LLP for May 2021
Business owners, startups, professionals, and taxpayers dealing with Compliance dues dates should understand the applicable rules. Requirements can vary by turnover, entity type and activity, so it is best to confirm your specific case before proceeding.
Audit Requirement for an LLP in India
What is an LLP? LLP or Limited Liability Partnership is an alternative business form that provides the advantages of a limited liability company and the flexibility like that of a partnership firm...
Compliance requirements for Company & LLP Filing for Jan'21
Business owners, startups, professionals, and taxpayers dealing with Compliance requirements for Company should understand the applicable rules. Requirements can vary by turnover, entity type and activity, so it is best to confirm your specific case before proceeding.
LLP Agreement - Essential Clauses to be included
What is the LLP Agreement? Section 2(1)(O) of the Limited Liability Partnership Act, 2008 defines it as under: “LLP Agreements mean any written agreement between the partners of the Limited...