#annual filing for llp
Photo
Corpsee ITES Pvt Ltd company is the best llp compliance registration services provide. LLP stands for Limited Liability Partnership and is a concoction of a corporation and a partnership, LLPs are gaining tremendous popularity among investors because it provides several advantages that have helped boost the need and want to create more LLPs among entrepreneurs.
#llp compliance#llp annual return#annual filing for llp#checklist for llp registration#annual compliance for llp#annual return for llp#llp company compliance#llp compliance license#llp registration in india#llp registration india#online llp formation#register a llp in india#register llp online#register llp in india#registration of llp#llp formation india
0 notes
Text
LLP Form 11 due dates
Ensure compliance with LLP regulations by staying informed about LLP Form 11 due dates. Our seamless LLP annual return filing services make the process hassle-free. Stay ahead with our expert assistance, meeting deadlines effortlessly. Optimize your LLP's performance by filing Form 11 on time, ensuring legal compliance and peace of mind. Trust us for reliable LLP compliance solutions, tailored to your needs.
Get in touch with our experts today!
Email: [email protected]
Mobile: +91 9643203209
Website: https://ebizfiling.com/
0 notes
Text
A complete guide on LLP Annual Filing and Process for LLP E-filing
Returns for a Limited Liability Partnership (LLP) should be filed on a regular basis to ensure compliance and avoid the harsh penalties imposed by the law for non-compliance. When compared to the compliance obligations placed on Private Limited Company, a Limited Liability Partnership has only a few compliances to follow each year. File your LLP annual returns with the professional help of Ebizfiling.
0 notes
Text
Top LLP Company Compliance in Kolkata
Top LLP Company Compliance in Kolkata: Simplifying Compliance with Filemydoc
Introduction:
In the bustling city of Kolkata, numerous limited liability partnership (LLP) companies thrive and contribute to the region's vibrant business ecosystem. However, with the ever-increasing complexities of legal and regulatory frameworks, ensuring compliance can be a daunting task for business owners. This article aims to shed light on the top LLP company compliance requirements in Kolkata and how Filemydoc, a trusted online platform, simplifies the compliance process.
1. Understanding LLP Company Compliance:
Compliance for LLP companies in Kolkata involves adhering to various legal and regulatory obligations. These obligations ensure that businesses operate ethically, maintain transparency, and meet the standards set by the government and relevant authorities. Key compliance requirements for LLP companies in Kolkata include:
a) Registrar of Companies (RoC) Compliance: LLPs must comply with the filing of annual returns, financial statements, and other statutory documents with the RoC.
b) Tax Compliance: Complying with the Goods and Services Tax (GST), income tax, and other applicable tax regulations is crucial for avoiding penalties and maintaining financial transparency.
c) Employment Compliance: LLPs must adhere to labor laws, employee benefits, provident fund, professional tax, and other employment-related compliances.
2. The Importance of Top LLP Company Compliance in Kolkata:
Maintaining compliance is not just a legal requirement but also crucial for the long-term success and reputation of any LLP company in Kolkata. Here's why top LLP company compliance is essential:
a) Avoiding Legal Consequences: Non-compliance can result in hefty penalties, legal disputes, and even the dissolution of the LLP. Adhering to the regulations ensures the company's sustainability and protects its stakeholders.
b) Building Trust and Credibility: Compliant companies foster trust among customers, investors, and partners. Demonstrating commitment to compliance enhances the company's reputation and credibility in the market.
c) Ensuring Operational Efficiency: Compliance procedures often involve streamlining internal processes, leading to improved operational efficiency and reduced risk of errors.
3. Introducing Filemydoc: Simplifying LLP Company Compliance:
Filemydoc, a leading online platform, offers a comprehensive solution for LLP company compliance in Kolkata. With its user-friendly interface and advanced features, Filemydoc simplifies the compliance process, allowing businesses to focus on their core operations. Key features of Filemydoc include:
a) Automated Compliance Reminders: Filemydoc sends timely notifications and reminders about upcoming compliance deadlines, ensuring companies never miss a crucial filing date.
b) Document Management System: The platform provides a secure and centralized repository to store and manage all compliance-related documents, eliminating the hassle of manual record-keeping.
c) Expert Guidance and Support: Filemydoc offers expert guidance and assistance from professionals well-versed in the complexities of LLP company compliance. Users can seek advice and resolve queries through the platform's support channels.
4. Top LLP Company Compliance Services Offered by Filemydoc:
Filemydoc offers a range of services designed to address the specific compliance needs of LLP companies in Kolkata. Here are some of the top services provided by Filemydoc:
a) Annual Compliance Filings: Filemydoc facilitates seamless filing of annual returns, financial statements, and other statutory documents with the RoC, ensuring companies stay compliant.
b) Tax Compliance: The platform assists in GST registration, filing GST returns, income tax return filing, and other tax-related compliances, helping companies meet their tax obligations accurately and efficiently.
c) Legal and Regulatory Support: Filemydoc provides expert advice and assistance on legal and regulatory matters, including company incorporation, changes in partnership agreements, and compliance audits.
d) Compliance Audit and Due Diligence: The platform offers comprehensive compliance audits to identify areas of improvement and ensure adherence to all relevant regulations. This service is particularly useful during mergers, acquisitions, or partnership restructuring.
e) Annual Maintenance Packages: Filemydoc offers customized annual maintenance packages that cover all major compliance requirements, enabling companies to outsource their compliance management and focus on their business growth.
Conclusion:
Maintaining compliance with the legal and regulatory requirements is paramount for LLP companies in Kolkata. With the complexities involved, partnering with a reliable online platform like Filemydoc can simplify the compliance process significantly. By leveraging Filemydoc intuitive interface, automated reminders, and expert support, businesses can ensure seamless compliance management, avoid penalties, and build a strong reputation. Embrace Filemydoc to streamline your LLP company compliance in Kolkata and stay ahead in the dynamic business landscape
#LLP Annual Return Filing#LLP Registration in India#Limited Liability Partnership (LLP) Registration in India
0 notes
Text
Process of closing an LLP in India
The Limited Liability Partnership (LLP) is a trendy type of business entity, established in 2008 by the Limited Liability Partnership Act, that integrates the features of a company and a partnership. In earlier articles, we discussed the documents mandated for LLP registration and the registration process itself.
This article aims to assist you with the procedure for closing an LLP in India.
Although LLPs offer several benefits over other kinds of business entities, such as ease of incorporation and limited liability for members, these advantages do not necessarily translate into flourishing business operations. This article will explain the Strike Off method of closure and provide an overview of other closure options.
The process to close a Limited Liability Partnership
An LLP can be closed in two ways:
1. Strike-off method-
a. Voluntary Strike Off
The LLP should not have been engaged in commercial activities for a period of at least one year.
The LLP must file an application in Form 24 LLP with the Registrar of LLPs to apply for voluntary strike-off status.
The LLP should have completed all compliance requirements by the date of filing for closure. However, it is only required to file annual returns until the end of the year when commercial activities are discontinued.
The LLP must have obtained the approval of all parties involved, including members, creditors, and any regulatory authorities under whose domain the LLP works.
The LLP should not have any assets or liabilities as of the date of preparation of financial statements.
The process to close LLP through Strike Off method
In order to move forward with the Strike Off process, the LLP must follow the steps outlined below:
The LLP must plan a meeting of all partners to pass a resolution to strike off the name.
The LLP must pay all outstanding debts and liabilities before proceeding with the Strike Off process.
The meeting of partners must permit a designated partner to file the application for Strike Off.
The designated partner must file an application in e-Form 24 and submit it to the Registrar. The application must have the approval of all members.
Read more to know about the Procedure of Closing LLP in India
#closure of llp#llp registration#private limited company registration#opc registration#nidhi company registration#startup registration#trademark registration#annual compliance of llp#annual compliance of private limited company#itr filing#tds return filing#legal services#legal consultation
0 notes
Text
Annual filings for Limited Liability Partnership
There are numerous matters to be performed to keep compliance for a Limited Liability Partnership (LLP) and keep away from heavy consequences for non-compliance below the law. For example, the go back filings need to be filed periodically. As in comparison to the compliance necessities positioned at the personal restrained companies, Limited Liability Partnerships have just a few compliance necessities to observe every yr, that's pretty low. However, the fines appear to be pretty high. LLPs is probably charged as much as INR five lakh in consequences for non-compliance, while a Private Limited corporation may handiest be charged INR 1 lakh in consequences for non-compliance.
LLP compliance
Due to the truth that Limited Liability Partnerships are separate prison entities, it's far the duty of the elected companions to keep a right ee-e book of debts and record an annual go back with the Ministry of Corporate Affairs (MCA) according with the law.
Except for restrained legal responsibility partnerships with annual turnover over Rs.forty lakhs and contributions over Rs.25 lakh, auditing in their books of debts isn't required. Hence, an LLP isn't required to get their books of account audited if it fulfils the above-stated condition, so the yearly submitting method may be simplified.
The Statement of Account & Solvency for Limited Liability Partnerships need to be filed inside thirty (30) days from the give up of the economic yr, and the Within sixty (60) days of the give up of the economic yr, the yearly go back need to be filed.
Limited Liability Partnerships are required to keep a economic yr from April 1st to March thirty first, much like companies. Every LLP is needed to put up a Statement of Accounts and Solvency with the aid of using October thirtieth of every economic yr, and its annual go back is due on May thirtieth each yr although the LLP has now no longer finished any enterprise in the course of the modern economic yr. Even if the LLP hasn't began any enterprise, a number of the LLP annual submitting are mandatory.
Solvency and Accounts Statements
As a part of its responsibilities as an LLP Annual Filing, all enrolled LLPs are required to maintain correct books of debts and put up them to the nation in Form eight, which incorporates records concerning the earnings made, different economic records associated with the enterprise, and different economic records associated with the enterprise. As nicely as being attested with the aid of using the signatures of the detailed companions, Form eight ought to additionally be licensed with the aid of using a chartered accountant, a corporation secretary, or a value accountant who's actively concerned within side the enterprise. There is a best of Rs.a hundred in step with day in case you fail to record the announcement of debts and solvency file for the economic yr with the aid of using the said due date. The due date for submitting shape eight each yr is October 30.
Filing of the Annual Return
In order to record annual returns according with the law, the LLPs ought to fill out the prescribed shape-eleven. The shape is taken into consideration to be a precis of the control affairs of the LLP, along with the wide variety of companions in addition to their names. Moreover, the shape eleven need to be filed with the aid of using thirtieth May each yr.
Income Tax Act Filings and Audits
According to the Limited Liability Partnership Act, 2008, Limited Liability Partnerships with a turnover of extra than Rs.forty lakh or a contribution of extra than Rs.25 lakh are required to have their books of account audited with the aid of using practicing chartered accountants. In the case of an LLP required to have his books audited, September thirtieth is the closing date for submitting the tax go back.
Note: With impact from AY 2021-22 (FY 2020-21), the edge restrict for a tax audit has been improved to Rs.five crore if the taxpayer’s coins receipts are restrained to five% of gross receipts or turnover, and if the taxpayer’s coins bills are restrained to five% of mixture bills.
LLPs without a tax audit closing date are due July thirty first for taxes. Limited Liability Partnerships which have engaged in any worldwide transactions with related establishments or have undertaken exact home transactions are required to record Form 3CEB. It ought to be licensed with the aid of using a practicing Chartered Accountant. Limited Liability Partnerships that need to record this shape can achieve this with the aid of using thirtieth November.
The LLP ought to record its profits tax go back in Form ITR5 the use of the digital signature of the detailed partner, which may be performed on line through the profits tax website.
0 notes
Text
Benefits Of Annual ROC Filing | Ebizfiling
What Is Annual ROC Filing?
Introduction
Each year, all businesses with Indian incorporation must submit specific paperwork to the Registrar of Companies. If the rules are broken, the Company, the Directors, or the Officers maybe subject to penalties and fines. Therefore, it is an important thing for management staff of a firm to be aware of all the compliances required of them and to comply on time. In this article, we'll examine the paperwork a corporation needs to submit annually to the ROC.
What is an ROC?
The Ministry of Corporate Affairs (MCA), which oversees all company and limited liability partnership (LLP) administration in India, which is home to the Register Of Companies (ROC). All entities and LLPs covered by the Companies Act 1956 and the Companies Act 2013 are under the control and regulation of the MCA. The organization is responsible for handling a company registration in India is known as the ROC. For example - the ROC compliance for a Private Limited Company and an annual filing of LLP.
What Is an ROC Annual filing of a company?
ROC filing refers to the submission of a company to the ROC of audited financial statements and annual returns.
Every firm is required by the Companies Act 2013, sections 129 and 137 to submit its audited financial statements to the ROC.
Annual filing of a company must be submitted to the ROC in accordance with section 92 of the 2013 Companies Act.
The above documentation must be submitted between 30 and 60 days after the conclusion of the annual general meeting.
What is the importance of submitting the ROC?
The company will be safeguarded from the imposition of penalties and punishments if the ROC returns are filed on time.
The company must prepare the proper documents for filing the ROC in order for the company to know its precise and accurate situation.
The business will follow the guidelines given in the Companies Act 2013, which will serve to safeguard its operations from government interference.
A company that complies with the ROC filing method can improve its public image and the perception of its business.
Advantages of filing ROCs
Explicit The Financial Position:
Compiling the overall accounts of the company for the entire year is part of filing yearly filings.
Filing helps in the analysis or determination of financial status of the company. i.e., whether the business is making a profit or a loss.
Evidence of the Company's Existence:
Regular filings with the ROC serve as evidence of the existence of the company.
Based on the filings made by the company, the government will update the record of existence of the company.
A corporation is considered to be fake if it has been a long time since its last annual filing, and the ROC has the authority to remove the name of the company from the register.
Protection from Penalties:
Companies that fail to submit annual files may be subject to fines. Therefore, timely filings will shield the business from such claims.
A proper annual compliance program will protect the business from any legal issues.
Points to be taken care while Annual ROC Filing-
Primary operations of the corporation.
Information about the holding, subsidiary, and affiliated companies.
Pattern of shareholding.
Indebtedness.
Director remuneration and key managerial personnel.
Penalties, punishment, or compounding of sentence
Documents required for filing Annual ROC
Each company is required to attach specific documents while submitting the ROC-
Balance sheet
Loss and profit accounting
Annual return
Audit of Costs Report
Conclusion
According to The Companies Act, 2013, every business must submit its annual return and annual accounts within 30 and 60 days, respectively, of the completion of the annual general meeting. The ROC is responsible for handling a company registration (also known as incorporation) in the nation. It completes the regulation and reporting of businesses, as well as their shareholders' and directors' reporting to the government, including the yearly submission of the above documents. Any Director who has not filed annual returns of the company, may also be punished by imprisonment for a term that may be extended up to six months or by a fine up to 5 lakh rupees.
#Roc Filing Due Date#roc filing due date extended#annual filing of company#annual filing of llp#roc compliance for private limited company
1 note
·
View note
Link
#LLP Annual Return Filing In Gujarat#LLP Annual Return Filing In Surat#LLP Annual Return Filing#LLP Roc Filing Due Date#LLP Annual Return Due Date 2022#LLP Annual Filing In Surat
0 notes
Photo
LLP Annual Filing Reminder
Every Company is required to create a login with the MCA website to submit the forms as per the new update as specified in the trailing mails. We are facing several technical glitches in the V3 MCA website for filing the LLP forms. In this regard we request the client to coordinate, anyone of the directors will receive OTP to their mail and mobile immediately
https://www.kanakkupillai.com/annual-filing-for-llp
0 notes
Text
Llp Annual Compliance
A limited liability company is a distinct legal entity. to maintain active status and prevent default status. A regular filing with MCA is required to be taken care by all Limited Liability partnerships. llp Annual Compliance for any LLP is obligatory and unavoidable.
0 notes
Text
Back in 2022 at the annual Code Conference, where tech luminaries submit to onstage interviews, an audience member asked Apple CEO Tim Cook for some tech support. “I can’t send my mom certain videos,” he said; she used an Android device, which means she can't access Apple’s iMessage. Cook’s now-infamous response: “Buy your mom an iPhone.”
Cook’s remark and Apple’s recent decision to block the third-party app Beeper from bridging the Android-to-iMessage interoperability chasm are two of the many examples of allegedly monopolistic behavior cited in the US government’s antitrust suit against Apple. Central to the case is Apple’s practice of “locking in” iPhone customers by undermining competing apps, using its proprietary messaging protocol as glue, and generally making it challenging for people to switch to other phones.
Those accusations are backed up by lawyerly references to the Sherman Act. But the complaint also shows the Department of Justice crafting a cultural narrative, trying to tell a technology tale with a clear message—like an episode of the crime drama Dragnet, says antitrust expert William Kovacic, who teaches at George Washington University and King’s College, London.
The Apple antitrust lawsuit, filed Thursday by the DOJ and more than a dozen state attorneys general, claims that in addition to degrading the quality of third-party apps, Apple “affirmatively undermines the quality of rival smartphones.” Because messages sent between iPhones via Apple’s proprietary network appear in blue bubbles, but those from Android phones appear in green and are excluded from many iMessage features, Apple has signaled to consumers that rival phones are of less quality, the suit alleges.
The suit includes references to the negative cultural and emotional impact of the restrictiveness of some Apple products. It ranges beyond the typical antitrust case, in which investigators might focus on supracompetitive pricing or the conditions of corporate deals that restrict competition. The core of US antitrust cases has long been proving consumers paid higher prices as a result of anticompetitive practices. But a few key paragraphs within the 88-page filing mention the exclusion and social shaming of non-iPhone users confined inside green chat bubbles, distinguishing this case from some of the more recondite explanations of tech market competition in recent years.
“Many non-iPhone users also experience social stigma, exclusion, and blame for ‘breaking’ chats where other participants use iPhones,” the suit reads. It goes on to note that this is particularly powerful for certain demographics, like teenagers, who The Wall Street Journal reported two years ago “dread the ostracism” that comes with having an Android phone.
The DOJ argues that all of this reinforces the switching costs that Apple has baked into its phones. Apple is so dominant in the smartphone market not because its phones are necessarily better, the suit alleges, but because it has made communicating on other smartphones worse, thereby making it harder for consumers to give up their iPhones.
Legal experts say this social stigma argument will need much stronger support to hold up in court, because it doesn’t fit with traditional definitions of antitrust. “What is Apple actually precluding here? It’s almost like a coolness factor when a company successfully creates a network effect for itself, and I’ve never seen that integrated into an antitrust claim before,” says Paul Swanson, a litigation partner at Holland & Hart LLP in Denver, Colorado, who focuses on technology and antitrust. “This is going to be an interesting case for antitrust law.”
Regardless, the DOJ’s complaint builds a powerful message from the cacophony of consumer voices that have vented frustrations with iMessage’s lack of interoperability in recent years. And it’s part of a broader, democratizing theme introduced by Jonathan Kanter, the assistant attorney general for the DOJ’s Antitrust Division, says Kovacic, who previously served as chair of the Federal Trade Commission. “Kanter basically said, ‘We’re trying to make this body of law accessible to ordinary human beings and take it away from the technicians,’” Kovacic says. “Storytelling is overstated in some ways, but my sense is that a lot of work went into this filing.”
Apple has rejected the DOJ’s allegations. In an earlier statement to WIRED, Apple spokesperson Fred Sainz said that the lawsuit “threatens who we are and the principles that set Apple products apart in fiercely competitive markets” and added that its products work “seamlessly” together and “protect people’s privacy and security.”
Cultural arguments about the harms of the iPhone’s stickiness will resonate with a lot of consumers, even if they end up being legally indefensible. Blue bubble vs. green bubble messaging has become a much more mainstream debate that transcends the wonky, technical underpinnings of iMessage’s protocol. Apple has also consistently boasted of iPhone and iMessage’s tight security, while seemingly denying third-party apps—such as Beeper—the ability to offer a similar level of security between iPhones and Android phones.
Apple has suggested that the design of iMessage is not anticompetitive, because iPhone users can install and use any third-party messaging app they please, as long as it’s available in the App Store. Apps like Facebook Messenger, WhatsApp, and Signal can all be installed on iPhones and give messages sent from users on Android or iPhone equal treatment.
The DOJ takes aim at that, too, saying that these other apps first require opt-in from consumers on both sides of a conversation because they form closed systems of their own. And the case points out that Apple hasn’t given app developers any technical means of accessing the iPhone messaging APIs that would allow SMS-like, cross-platform, “text to anyone” functions from those apps.
Swanson says he still believes Apple has been careful to take the necessary steps to legally preserve consumer choice, which is one of the fundamental principles in US antitrust law. “You probably can’t do sophisticated messaging on a T9 phone these days,” he says, referencing the predictive text system that dominated before the iPhone popularized touchscreens. “But there are plenty of other options in the market that won’t deprive you of a network effect.”
Kovacic believes that as the case continues, the DOJ will have to bring forward new evidence and arguments to stand up the cultural aspects of its suit. That could involve tapping theories of economics and the psychology of human behavior to attempt to explain why some technology consumers may unconsciously favor certain products they are emotionally attached to. More likely, he says, the DOJ will have to present contemporaneous business notes that show Apple’s anxiety about competitive apps or emerging technologies, and how the company responded in apparently dubious ways.
One way the DOJ tries to stand up its allegations is by comparing Apple to an earlier antitrust target: Microsoft. In a historic antitrust case filed in 1998, the DOJ presented evidence that Bill Gates’ company was fearful that software like the Netscape browser could weaken the market power of Windows, Kovacic says.
Steven Sinofsky, a former longtime Microsoft executive, wrote in a highly charged blog post on Saturday that he suspects many of the suit’s arguments about Apple’s products will prove to be irrelevant. “Almost all of the [DOJ-Apple] battles will end up being about the terms and conditions of contracts which is the stuff lawyers and courts are good at, and not on product design,” he wrote. “The vast majority of the settlement in the Microsoft case ended up being terms and conditions licensing Windows.”
In other words, the DOJ has shown some of its cards in this initial complaint—and told a story that will resonate with many frustrated smartphone users. But to keep the case alive the agency will have to present additional, concrete, evidence that Apple’s anxieties about its products being devalued led it to act in ways that caused actual harm. If the DOJ wants to make the case against Apple as historic as the one against Microsoft it will have to prove, as Kovacic puts it, “that the anecdotes aren’t just storytelling.”
7 notes
·
View notes
Photo
An LLP is a body corporate formed and incorporated under the Limited Liability Act 2008, it has a legal entity separate from that of its partners. Also, has perpetual succession, any change in the partners of an LLP will not affect its existence, rights, or liabilities of LLP. The provisions of the Partnership Act, 1932 will not apply to LLP. Furthermore, a Limited Liability Partnership means a business where a minimum of two partners is required and there is no limit on the maximum number of partners. The liability of the partners is limited up to the extent of Capital contribution done by each partner in checklist for llp registration.
#llp compliance#llp compliance checklist#llp annual compliance#llp annual return#annual filing for llp#checklist for llp registration#annual compliance for llp#llp compliance checklist 2022#annual compliance of llp#llp compliance services#llp compliance services india#LLP Annual Filing in India#Annual Compliance for LLP Company#llp compliance online services india#online llp compliance services#llp annual compliance cost#annual return for llp#llp company compliance
0 notes
Text
Limited Liability Partnership (LLP) ROC Compliance
Limited Liability Partnership (LLP) ROC Compliance refers to the regulatory requirements that LLPs need to fulfill with the Registrar of Companies (ROC). In various jurisdictions, including India, LLPs are mandated to adhere to specific compliance norms set by the ROC to ensure transparency, legal conformity, and proper governance. These compliances typically include the timely filing of annual returns, financial statements, and other essential documents. Meeting LLP ROC Compliance is crucial for maintaining good standing with regulatory authorities and avoiding penalties. It underscores the commitment of LLPs to operate within the legal framework and uphold accountability in their business practices.
0 notes
Note
Skippy: just noticed that Doria's "business," Loving Kindness Senior Care, had to pay a penalty in California, possibly for filing late. (It's a Delaware corporation, but since she has a physical location in California she has to file as a CA foreign corp.) What's weird is that under "Type of Business" her most recent Statement of Info form (CA annual filing requirement) has "GGSSC, LLP." That's Richard Genow's law firm abbreviation, NOT a "type of business." Why did CA SOS not reject that?
Very interesting and strange…..hmmm…❤️
45 notes
·
View notes
Text
Unveiling Limited Liability Partnership Registration: A Step-by-Step Guide
In the realm of business structures, Limited Liability Partnerships (LLPs) have emerged as a favored choice for entrepreneurs seeking a balance between liability protection and operational flexibility. Offering the advantages of both traditional partnerships and limited liability companies, LLPs provide a unique framework that appeals to a wide array of professionals and businesses. If you're considering forming an LLP, navigating through the registration process can seem daunting. However, fear not! In this comprehensive guide, we'll break down the intricacies of LLP registration, simplifying each step to set you on the path to success.
Understanding Limited Liability Partnerships
Before delving into the registration process, let's grasp the essence of Limited Liability Partnerships. An LLP combines features of both partnerships and corporations, providing its partners with limited personal liability akin to shareholders in a corporation. This implies that partners are not personally liable for the debts and obligations of the business beyond their investment. This protective shield for personal assets makes LLPs an attractive option for professionals such as lawyers, accountants, consultants, and small businesses.
Step-by-Step Guide to LLP Registration
1. Choose a Name
Ensure that your chosen name complies with the regulations stipulated by the relevant authority. It should not infringe on existing trademarks and should reflect the nature of your business.
2. Obtain Digital Signature Certificates (DSC)
LLP registration necessitates the use of Digital Signature Certificates (DSC) for filing various documents electronically. Obtain DSCs for all partners involved in the LLP.
3. Obtain Designated Partner Identification Number (DPIN)
This unique identification number is mandatory for all individuals intending to be appointed as partners.
4. Drafting LLP Agreement
The LLP agreement outlines the rights and duties of partners, profit-sharing ratios, decision-making procedures, and other pertinent details. Draft a comprehensive LLP agreement in accordance with the provisions of the LLP Act.
5. File Incorporation Documents
Compile and file the necessary incorporation documents with the Registrar of Companies (ROC). These documents typically include Form 1 (Incorporation Document) and Form 2 (Details of LLP Agreement). Pay the requisite fees along with the submission.
6. Registrar Approval and Certificate of Incorporation
Upon submission of documents, the Registrar will scrutinize the application. If all requirements are met satisfactorily, the Registrar will issue a Certificate of Incorporation, officially recognizing the LLP's existence.
7. Obtain PAN and TAN
After obtaining the Certificate of Incorporation, apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the LLP.
8. Compliance with Regulatory Requirements
Ensure compliance with all regulatory requirements post-incorporation. This includes maintaining proper accounting records, filing annual returns, and adhering to tax obligations.
2 notes
·
View notes
Text
Formation of Wholly Owned Subsidiary In India
A Wholly Owned Subsidiary refers to a company whose shares or voting rights are totally owned by the parent company.
A Wholly Owned Subsidiary (WOS) is distinct from a subsidiary since the former signifies that the parent company holds 100% of the whole shares or voting rights, while the subsidiary implies the parent company holds 51% or more of the subsidiary company.
In India, a Private Limited company can be established by Foreign companies to conduct business or invest, which would be considered a Wholly Owned Subsidiary. However, this is subject to government regulations on Foreign Direct Investment (FDI) and other applicable provisions.
Requirements of Wholly Owned Subsidiaries
At least one director to be a resident of India: A Wholly Owned Subsidiary company must have at least one director who is a resident of India.
The term "resident" refers to an individual director who has lived in India for an equivalent of or more than 182 days in the preceding year.
No Minimum Capital: As per MCA guidelines, there is no minimum capital required to create the company.
Minimum one shareholder (and nominee) and 2 directors: As per Section 3(1)(b) of the Companies Act, 2013, it is crucial for every company to have at least one shareholder and one nominee shareholder, along with a minimum of two directors.
How to Form a Wholly Owned Subsidiary in India
Application for Name approval of Wholly Owned Subsidiary – Part A of formation
Retain Original Name: The foreign company can decide to keep its original name for the subsidiary in India to carry forward its goodwill.
Add India as a Suffix: The foreign company can add India as a suffix to its original name to indicate its status as a subsidiary in India.
Use Registered Trademark: If the foreign company has a registered trademark in another country, it can use the same trademark for the subsidiary in India.
Choose a New Name: The foreign company can also pick a new name for the subsidiary if it wishes to do so.
Read more to know about the formation of WOS in India
#wholly owned subsidiary#llp registration#private limited company registration#opc registration#nidhi company registration#startup registration#trademark registration#annual compliance of llp#annual compliance of private limited company#itr filing#tds return filing#legal consultation#legal services
0 notes
Last Seen Blogs
travel-journal-from-shirokane
travel-journal-from-shirokane
tmarrakech08
toursinmarrakech
pachworldx-1
Pachworldx1
johnn-cat
John: Do the Art Thing
theartbitch
bella