MCA: 2021 Shri Rajesh Verma, 1AS Secretary Ministry of Corporate Affairs Government of India Shastri Bhawan Dr.Rajendra Prasad Road New Delhi -110001 Subject: Extension in timelines for filings by LLPs-reg. Respected Sir, Amidst the pandemic, it is appreciable that the Ministry of Corporate Affairs (MCA) has been at the forefront in providing relief to the professionals and corporates. The LLP Settlement Scheme, 2020 l..
MCA invites comments on the report of the Company Law Committee on Decriminalization of the LLP Act, 2008 latest by 2nd February 2021 The Official Notification has been attached herewith ..
IMPACT OF NO EXTENSION OF CFSS & LLP SETTLEMENT SCHEME What were the benefits of the MCA Scheme? The Ministry of Corporate Affairs, Government of India (MCA), introduced a one of its kind “Fresh Start” Scheme for all companies and Limited Liability Partnerships (LLPs) as a one-time opportunity, in the backdrop of the widespread disruption caused by the COVID-19 pandemic, vide its general circular nos. 12/2020 and 13/2020 dated 30th March, 2020. Highlights of the Companie..
The Institute of Company Secretaries of India has written a representation letter to the Union and Finance Minister Smt. Nirmala Sitharaman requesting for the Ministry of Finance to extend the Companies Fresh Start Scheme to 31st March 2021. The validity for the CFSS Scheme collapsed on 31st December 2020. However, no news for the extension has come yet. Professionals have also taken it to Twitter to express their demands, as Extends_CFSS trends on the social networking site. Read the off..
Professional Development Committee The Institute of Chartered Accountants of India 17th December, 2020 Empanelment of Chartered Accountant firms/LLPs for the year 2021-2022 Like every year, Office of the Comptroller and Auditor General of India invited online applications from Chartered Accountant firms/LLPs who desire to be empanelled with their office for the year 2021-2022 for the purpose of appointment of auditors of Companies as per Sections 139 (5) and 139(7) of the Companies Act 2..
LLP - Limited Liability Partnership were Introduced in 2008 in India, However with increasing compliances in registration and regulations relating to Private Limited Companies, LLPs are gaining momentum in India. These are economical while registering as well as while fulfilling ROC compliances. There are hefty fines to Private Limited companies on non-compliance compared to LLPs. How is LLP different from Partnership firm? Partnership firm is not a separate legal entity while LLP is a ..
Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India 12th November, 2020 ANNOUNCEMENT Sub: Timeline for filing of belated documents has been extended upto 30th November, 2020 due to Extension of LLP Settlement Scheme, 2020. Considering the difficulties faced by the corporates and professionals due to the continued disruption in certain parts of the country and to provide greater Ease of doing business, the Institute of Chartered Accountan..
The Ministry of Corporate Affairs has extended the LLP Settlement Scheme, 2020 till 31st December 2020 due to the COVID-19 pandemic. Read the official announcement below: General Circular No. 31/2020 F. No. 17/61/2016-CL-V-Pt.I Government of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated: 28th September, 2020 To The DGCoA, All Regional Directors, All Registrar of Companies, All Stakeholders. ..
The Karnataka State Chartered Accountants Association requests for an extension in the Companies Companies Fresh Start Scheme 2020 (CFSS) by at least 3 months i.e. till 31st December 2020. Moreover, a same extension has been requested for the LLP Settlement Scheme. This request is generated keeping in lieu the COVID-19 pandemic and the hardships faced as a consequence of it. Date: 17th September 2020 To, Smt. Nirmala Sitharaman Hon’ble Minister of Finance & Minister of Cor..
1. Is the CFSS 2020 applicable on foreign company? Will the forms FC-1, FC-2 and FC-3 be covered under the scheme? Ans : Yes. 2. How to file the belated returns for companies under liquidation? Ans: Only Refund form, GNL-2 (149, 152, 153, 154, 156, 157, 158, 159 and others), INC-28 (Amalgamation/Merger/Demerger/445, 466, 481, Others), MGT-14 (Others) and GNL-4 are allowed to be filed if the company status is under liquidation. 3. Can Deactivated director activated through this scheme..
LLP or Limited Liability Partnership is nothing but an alternative corporate form that provides benefits of “Limited Liability” to the designated partners at reasonable costs of compliance. It is a legal entity. However, the liability of all Designated Partners is limited to the portion as contributed by the Designated Partners. Hence, LLP has benefits of both ie., Company as well as partnership. LLP is an entity that is governed by the laws and regulations prescribed by the Limit..
LLP or Limited Liability Partnership is nothing but an alternative corporate form that provides benefits of "Limited Liability" to the designated partners at reasonable costs of compliance. It is a legal entity. However, the liability of all Designated Partners is limited to the portion as contributed by the Designated Partners. Hence, LLP have benefits of both ie., Company as well as of partnership. Features of LLP Body Corporate Acc. to Section 3 of the Limited Liab..