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Due Dates Calendar for the month of June 2022

In this article, author shall discuss the Due Dates of Companies Act, 2013, LLP Act, Income Tax Act and Goods & Services Act.   Event Date Act Applicable Form Obligation 07/06/2022 Income Tax Challan No. ITNS-281 Payment of TDS/TCS of May. In case of government offices where TDS/TCS is paid by book entry, same shall be paid on the same day on which tax is de..

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MCA provides relaxation in additional fees for delay in filing Form 11 by LLP upto 30th June 2022

MCA has received representation seeking extension on timelines for filing the Annual Return (Form 11) by LLPs without paying additional fees. In view of transition from version-2 of MCA-21 to version-3 and to promote compliance on part of LLPs, it has been decided to allow LLPs to file e-Form 11 (Annual Return of Limited Liability Partnership) for the Financial Year 2021-2022 without paying additional fees up to 30th June, 2022. Click here to view / download the official notification ..

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LLP Filing Due date for FY 2021-22

Limited Liability Partnership (LLP) Filings Due date FY 2021-22 Every LLP, there is annual return in form 11 shall file before 30th May, of each year. By before 30th Oct is for Form 8, it's all about Statement of Account & Solvency. Designed partners, DPIN KYC shall be done before 30th Sept, each year. Form 11 LLP due date 2022 Form 11 is an e-form, it mainly contains the summary of the management of the LLP and also the details of each partners contribution to the busi..

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Everything About LLP-11 (V3)

SHORT SUMMARY In this editorial author shall discuss, the provisions, process, criticalities of Web-form LLP-11 i.e. "LLP-11 is Annual Return of LLP. Due to change of MCA version from V2 portal to V3 Portal Now, LLP-11 form shall be Web Based form. LLP-11 required to file Pursuant to section 35 of The Limited Liability Partnership Act, 2008 read with rule 25(1) of The Limited Liability Partnership Rules, 2009. Web Based It is not required to first download blank LLP-11 e-form from ..

Posted in articles |   4 comments |   2562 Views


Everything About LLP-8 (V3)

SHORT SUMMARY In this editorial author shall discuss, the provisions, process, criticalities of Web-form LLP-08 i.e. "LLP-08 is Statement of Account & Solvency and Charge to Registrar of Companies of LLP.Due to change of MCA version from V2 portal to V3 Portal Now, LLP-08 form shall be Web Based form. LLP-08 required to file Pursuant to section 34(2) & (3) of The Limited Liability Partnership Act, 2008 read with rule 24 of The Limited Liability Partnership Rules, 2009. Web Bas..

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LLP can form a partnership firm with an individual or other persons

Case Details: Raj Shipping Agencies v. Barge Madhwa Citation: [2020] 116 taxmann.com 707 (Bombay) In a significant ruling, the Kerala High Court held that a Limited Liability Partnership could form a partnership with an individual or other persons.   BRIEF FACTS A partnership deed was executed between an individual and an LLP. When the said deed was submitted for registration, the Registrar of Firms refused registration of the partnership firm on the reasoning th..

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Due dates for LLP Annual Filing for FY 2021-22

In India, if you have registered your business, it is important to follow necessary compliance for your business structure. If we talk about A Limited Liability Partnership, that is a business structure with a minimum number of 2 members and having no limitation on the maximum number of members, the compliances of an LLP is way lesser than that of a Private Limited Company. Nonetheless, it is important to keep a track of all the significant Statutory due dates for LLP Annual Filing that includes..

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The new concept of Small LLP

What is Small LLP?  An LLP is the most preferred form of business entity in India since its introduction in the year 2008 through the Limited Liability Partnership Act, 2008. It is a combination of both partnership and a company form of entity. Similar to a partnership firm it is also guided by agreement i,e., LLP agreement which defines the very basic structure of the business. Unlike partnership firms, the liability of the partners in LLP is limited to their capital contribution. It is..

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Overview of Limited Liability Partnership

DEFINITION LLP is a corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership. NATURE OF LIMITED LIABILITY PARTNERSHIP LLP is a separate legal entity from their Members. LLP have the benefit of limited liability for their Members. They are..

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Top 10 FAQs on LLP Affairs & latest extension

Q1. Can an existing partnership firm be converted to LLP? Yes, an existing partnership firm can be converted into LLP by complying with the Provisions of clause 58 and Schedule II of the LLP Act. ROC - Filings: Form 17 needs to be filed along with Form 2 for such conversion and incorporation of LLP.   Q 2. Can an existing company be converted to LLP? Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provision..

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MCA extends LLP Form 8 Due Date till 30th December 2021

General Circular No.16/2021 e-File No: Policy-01/2/2021-CL-V-MCA Government of India Ministry of Corporate Affairs 5th Floor, 'A' Wing, Shastri Bhawan, Dr. R.P. Road, New Delhi - 110001. Dated: 26.10.2021 To, The DGCoA, All Regional Directors, All Registrar of Companies, Al Stakeholders. Sub: Relaxations in paying additional fees in case of delay in of filing Form 8 (the Statement Account and Solvency) by Limited Liability Partnerships upto 30th December, 2021.- reg ..

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Full details about LLP from Registration to Compliances

What is an LLP? Limited liability partnership is a body corporate and legal entity separate from its partners. LLP has fewer compliances as compared to registered companies. In this article, we are going to discuss Registration process Admission/Cessation of Partner Compliances to be done by LLP   How to Register an LLP in 3 Steps? It's mandatory under LLP Act that applicant has to appoint at least two individuals as designated partners and they should be resi..

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Conversion of partnership firm into LLP

A. BACKGROUND A firm may convert into a Limited Liability Partnership in accordance with the provisions of Section- 55 of LLP Act, 2008 read with Second Schedule. Partnership firms are at a Disadvantage when compared to the newly introduced Limited Liability Partnership (LLP) as they do not provide limited liability protection for the partners, separate legal entity status, ability to take on unlimited number of partners and ease of ownership transfer. The introduction of LLP's through..

Posted in articles |   1 comments |   1767 Views


Process / Provision of Strike of LLP

As per Section 75 OF LLP Act, 2008 read with Rule 37 of LLP Rules, 2009 relating to Strike off of LLP. BACKGROUND Provision in relation to closure of LLP has been mentioend u/s 75 of LLP Act, 2008 read with Rule 37 of LLP Rules, 2009. Name of defunct LLP can be struck off by the Registrar: Suo-motto; or On application by the LLP. Defunct: The generic meaning of the word 'defunct' is a state of being non-existing and dysfunctioning. A Limited Liability Partnership is..

Posted in articles |   690 Views


Annual Compliance Calendar Of LLP

Post incorporation requirements are obligations which LLP are supposed to fulfill subsequent to incorporation. These include filing of annual returns, Financial Statement, change of Partners/ Designated Partners, alteration in Contribution, and change of registered office. All LLPs shall be under obligation to maintain annual accounts reflecting true and fair view of its state of affairs. Even if LLP does not do any business, it has to comply with statutory requirement such as Annual Return, ..

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Process for Change in name of LLP

The limited liability partnership may change its name by following the procedure as laid down in the limited liability partnership agreement. Where the limited liability partnership agreement is silent on this matter, consent of all partners shall be required for changing the name of the limited liability partnership In case there is no clause in the limited liability partnership agreement relating to change in the name the same can be made with the consent of all the partners of the limited ..

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Concept of Limited Liability Partnership - An analysis

The concept of Limited Liability Partnership (LLP) was first introduced in India in 2008 by the Limited Liability Partnership Act, 2008 Limited Liability Partnership is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. Since Limited Liability Partnership contains elements of both 'a corporate structure' as well as 'a partnership firm structure' Limited Liability Partnership is called a hybr..

Posted in articles |   10083 Views


Highlights of the amendments passed in the LLP Act, 2008 through the LLP (Amendment) Act, 2021

Highlights of the amendments passed in the Limited Liability Partnership Act, 2008 through the Limited Liability Partnership (Amendment) Act, 2021 by CL&CGC ICAI The LLP (Amendment) Act, 2021 (herein after referred to as 'the Amendment Act') got the assent of Hon'ble President as on 13th August, 2021 and is thus operative since that date. It was introduced in the Rajya Sabha on July 30, 2021 and was passed by Rajya Sabha on 4th August, 2021 and by Lok Sabha on 09th August, 202..

Posted in articles |   6279 Views


Section wise Impact of LLP Amendment Act, 2021

Both houses of Parliament has approved LLP Amendment Bill, 2021. Finally, the same got approval of President of the India on 13th August 2021 and become LLP Amendment Act, 2021. This is Act no. 31 of 2021. This Amendment Act shall amend the LLP Act, 2008.    S.NO Section of The LLP Act, 2008 Section Name in LLP Act, 2008 Section wise Effect New Section Insertion 1 Secti..

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Penalty / Fine - LLP (Amendment) Act, 2021

Both houses of Parliament has approved LLP Amendment Bill, 2021. Finally, the same got approval of President of the India on 13th August, 2021 and become LLP Amendment Act, 2021. This is Act no. 31 of 2021. This Amendment Act shall amend the LLP Act, 2008. In this editorial author shall discuss about changes in Fine/ Penalty under LLP Act, 2008.   S.NO. Serial Number as per Amendment Act Section Number  Old Penalty/ ..

Posted in articles |   756 Views





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