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..
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&..
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..
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..
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..
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..
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..
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...
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...
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...
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. ..