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What's New

MCA has come up with new Limited Liability Partnership (Winding Up and Dissolution) Rules, 2012 on 10th July 2012
  The winding Up and Dissolution Rules has been notified by Ministry of Corporate Affairs on Tuesday, 10th Jul...
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Extension of Timelimit for filing Form 11-Annual Return
  The Ministry vide CIRCULAR NO.15/2012 dated 29-06-2012 has extended the time limit of filing of Annual Return by LLPs from the time limit of 60 DAYS TO 122 DAYS from the closure of financial yea...
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Guidelines for setting up and conversion of firms of PCS into LLPs
  Institute of Company Secretaries of India has issued Guidelines for Setting up and Conversion of Firms of PCS into LLPs. These guidelines shall come into effect from 9th June, 2012. ...
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Notification of Limited Liability Partnership (Amendment) Rules, 2012
 
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Extension of Timelimit for filing Form 11-Annual Return
  The Ministry vide CIRCULAR NO.13/2012 dated 06-06-2012 has extended the time limit of filing of Annual Return by LLPs from the time limit of 60 DAYS TO 90 DAYS from the closure of financial year...
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Solvency & Auditing Guidelines for LLP on cards
  The government is set to introduce stringent solvency and auditing norms for limited liability partnerships (LLPs), which would increase the compliance burden for them but bring in more transparency to satisfy the regul...
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LLP’s can become members of Stock Exchange
  SEBI has clarified by its letter dated 11th July 2011 that LLP are akin to LLC and partnership firms and therefore Stock Exchanges may consider granting membership to LLPs subject to LLP complying with the c...
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DPIN has been abolished , Designated Partners needs to apply DIN
  MCA has vide its notification dated 5th July 2011, amended the Limited Liability Partnership Rules 2009. Now instead of DPIN, every partner who will be appointed as Designated Partner, will neet to apply for DIN and n...
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Government allows FDI in LLP
  The government on Wednesday approved the much awaited foreign direct investment policy in LLP. Initally Foreign direct investment in LLPs will be allowed only in those sectors where 100% foreign owner...
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Union Budget 2011-12 introduces AMT on LLP
  The Union Budgt 2011-12 had anoounced the levy of Alternate Minimum Taxes (AMT) on LLP's similar to Minimum Alternate Tax on companies. LLP's where the regular income tax payable for a previous year is le...
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Introduction of PDF Version for LLP Forms on the LLP Portal
  Ministry of Corporate Affairs has introduced the new feature of downloadable e-forms on the LLP Portal. Alike at mca.gov.in, Users may now download the llp e-forms required to be filed and upload the same once filled at their end. ...
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No foreign loans to LLP
  Limited liability partnerships in the country may not get access to cheap overseas funds, which could discourage big firms from switching to this form of business that combine the features of companies and partnerships.
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Discussion paper on FDI in LLP, issued
  DIPP has issued the much awaited discussion paper on allowing Foreign Direct Investment (FDI) into LLP. Currently there is no policy in respect of the FDI in LLP and this discussion paper will pave the way for regulator...
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Foreigners may get to set up LLPs in sectors open to FDI
  Government may soon allow foreigners to set up limited liability partnerships in sectors where 100% foreign investment is allowed, taking a decisive step after much flip-flop over funding guidelines for this form of business organisation, favoured...
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3194 LLPs are registered as of 27th December 2010
  As per information available on ww.llp.gov.in, 3194 LLPs are registered as of 27th December 2010...
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Let foreigners set up LLPs in areas open to FDI
  The finance ministry has pitched for allowing foreigners to set up Limited Liability Partnerships (LLPs) in all the sectors open to foreign direct investment. The ministry has written to the department of indus...
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RBI to amend rules to control NBFC turning into LLP
  Reserve Bank of India is planning to amend its rules to pre-emp non banking finance companies (NBFC) from misusing the liberal rules governing limited liability partnership firms To check out complete news, please check out the Article section...
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Select LLPs may get 49% FDI
  FOREIGN investors may soon be able to set up Limited Liability Partnerships, or LLPs, in India, as the government is all set to allow foreign direct investment in this new form of business organisation.Initially...
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Conversion of Company into LLP is now exempt from Capital Gain
  As per the Union Budget 2010-11, the conversion of the exiting private limited companies and unlisted public limited companies into LLP will be exmept from the provisions of the capital gain , if the specified conditio...
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Applicability of certian provisions of Companies Act 1956 on LLP
  The Minsitry of Corporate Affairs made applicable the following sections 441, 443, 445, 446,448, 450, 451, 453, 454, 455, 456, 457, 458, 458A, 460, 463, 464, 465, 466, 467, 468, 471, 474,476, 477, 478, 479, 481, 482, 483, 484, 486, 487, 488, ...
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LLP Rules amended vide LLP (amendment) Rules 2010
  The Minsitry of Corporate Affairs has amended the LLP Rules 2009 by LLP (Amendment) Rules 2010. The said amendment was notified by notification no GSR 24(E) dated 11th Jan, 2010 , which shall come in force w...
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Company Secretaries allowed to form LLP
  The Institue of Company Secretaries of India has allowed Company Secretaries in practice to become a partner of LLP , for the purpose of rendering non attestation services. To know check out , LLP by Professionals under qui...
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Foreign Investment Policy for LLP Firms under review
  New Delhi: The government has decided to clarify the foreign investment rules under the new limited liability partnership (LLP) framework. An official confirmed to FE that the ministry of corporate affairs has urged the dep...
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LLP’s will be taxed as Partnership Firms under Income Tax Act
  The Union Budget 2009-10 has introduced the taxation provision for Limited Libaility Partnership, from assesment year 2010-11, LLP will be taxed as per Partnership firms. The entire provisions of Income Tax as are app...
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Different Tax regime for LLP in Budget
  The Union minister of Corporate Affairs has indicated that he budget may announce a different tax regime for recently introduced new form of business structure i.e. Limited Liability Partnership. The budget may have ta...
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