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MCA extended the LLP Settlement Scheme, 2020 till 31st December 2020

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 Bh..

Posted in news |   137 Views


Request for Extension of Companies Fresh Start Scheme i.e. CFSS 2020 and LLP Settlement Scheme 2020

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&..

Posted in news |   755 Views


50 FAQs on Companies Fresh Start Scheme (CFSS), 2020 and LLP Modified Settlement Scheme, 2020

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 di..

Posted in articles |   911 Views


Annual Compliance To Be Done By LLP

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..

Posted in articles |   2 comments |   362 Views


Registration Of Limited Liability Partnership

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 Ac..

Posted in articles |   1 comments |   913 Views


Foreign LLP : Setting Up Business in India

Establishing Business As per Section 2(m) of the Limited Liability Partnership Act, a foreign LLP is a limited liability partnership formed, incorporated or registered outside India; which establishes a place of business in India. A foreign LLP shall establish a place of business in India by filing Form 27; enlisting there in, the details regarding incorporation of LLP, details of designated partners and partners, naming atleast two authorized representatives for complying with th..

Posted in articles |   959 Views


How to change Registered Office Address of LLP?

A Limited Liability Partnership (LLP) is created as per the law, hence, it must regulate its day to day affairs according to the LLP Agreement, LLP Act, and the rules and regulations which are framed thereunder. In addition to the LLP Act, LLP is also subject to laws that apply to any other type of business. As per Section 13 of LLP Act, 2008, every LLP is required to have a registered office where all the notices or communications related to LLP may be received from the Registrar, State or C..

Posted in articles |   1 comments |   717 Views


Conversion of LLP to Private Company

This article will give you a glimpse of provisions prescribed, the procedure involved, practical difficulties and time involved in the conversion of LLP into a private limited company...

Posted in articles |   1 comments |   614 Views


Overview of Limited Liability Partnership (LLP)

LLP is a body corporate that includes features of both a partnership firm governed by the Indian Partnership Act, 1932, and Private Limited or Limited Company governed by the provision of Companies Act,2013. Since LLP contains elements of both "corporate structure" as well as "partnership firm structure", LLP is called a hybrid between a company and a partnership...

Posted in articles |   17 comments |   1400 Views


50 FAQs by MCA on CFSS 2020 and LLP Settlement Scheme

The MCA announced CFSS 2020 and LLP Settlement Scheme 2020 to give relief measures to Companies and LLPs amidst the outbreak of COVID-19. Read 50 FAQs on LLP and CFSS 2020 which will clear all your doubts...

Posted in articles |   722 Views


LLP Settlement Scheme, 2020

This scheme is applicable to any defaulting LLP i.e. LLP registered under Limited Liability Partnership Act, 2008 and which has made default in filing of documents on the due dates specified under LLP act 2008 and the rules made there under and which were due to be filed till 31st October, 2019...

Posted in articles |   343 Views


FAQs on Modified LLP Settlement Scheme, 2020

The LLP Settlement Scheme was an amnesty scheme launched for the LLPsby MCA which was later modified due to the outbreak of COVID-19 to allow one-time relaxation to LLPs to file their pending forms without paying any late fee. ..

Posted in articles |   501 Views




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