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Naming the business is one of the first important decisions for any entrepreneur. This quick checklist is surely a helpful reference.
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Know which structure is compatible according to your Business Requirement; start with the comparative analysis of advantages of one organisation over another.
On one side, start-ups end up by choosing to Register Private Limited Company (Pvt. Ltd.) as their constitution whereas the concept of LLP is emerging day by day and people are looking for the comparison between both types of organisation structure.
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Know which structure is compatible according to your Business Requirement; start with the comparative analysis of advantages of one organisation over another.
On one side, start-ups end up by choosing to register Private Limited Company (Pvt. Ltd.) as their constitution whereas the concept of LLP is emerging day by day and people are looking for the comparison between both types of organisation structure.
For more details visit us at LegalWiz.in
Limited Liability Partnership is a new form of business and a really convenient form of business. It is more advantageous for the small business firms and the start-up's to start or carry out their business with the least risk and convenience.
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The need for discontinuation of business arises due to various reasons. Know here how you can proceed for closing your Limited Liability Partnership.
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Change in LLP Agreement can be effected by amendment of LLP Agreement. Know grounds of change and necessary procedure to incorporate them in LLP Agreement.
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Looking for procedure to close your Limited Liability Partnership? Read the legal process to strike-off name of LLP from the register of Roc.
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LLP was introduced a decade ago. But, it has not successfully received wide acceptance from targeted segments. Some misconceptions are still prevailing in general about this structure. Today, I am going to clear up many such misconceptions.
LLP is a combination of both Company and Partnership. It is especially suitable for small to medium-sized business enterprises.
It is governed by Limited Liability Partnership Act- 2008 which came into force from April 1, 2008. This Act was proposed for promoting the Micro Small Medium Enterprise.
LLP registration has the advantage of self-governance and less compliance as compared to other types of corporate entities.
A limited liability partnership is important because it has features of both, a partnership and a company. An LLP registration is overlooked by the Ministry of Corporate Affairs (MCA) and the Limited Liability Partnership Act of 2008. Limited liability is the most important characteristic of an LLP.
Dissolution basically means formally ending or dismissing a partnership or official body. It is the process of dissolving or being dissolved, which means the process of disintegration. But in the legal context, dissolution has multiple meanings.
Dissolution of LLP is the stage of liquidation through which it is brought to an end. The assets & property of the concerned entity are redistributed.
Every LLP is formed to carry on a specific business activity with a motive to earn profit. At the time of incorporation of an LLP, partners have to provide the main object of an LLP. Such object must be mentioned in brief in the LLP agreement. An LLP cannot carry on any business activities which are not mentioned in the agreement.
If partners want to widen or change the business activity then it must be recorded in an agreement. Every change in LLP agreement must be approved by MCA.
LLP Registration is an advancement over the old form of partnership business where the liability of partners is limited to the extent of the contribution amount of all partners.
The LLP agreement entered into by the designated partners is another document that acts as the constitution for the LLP.
The Government of India generates revenue for our country through taxes. These taxes are collected as a percentage of the income earned by the people of the country. TDS and TCS are the forms of such taxes where both – TCS and TDS return filing are to be done by the individuals.
Rewards and return to a Partner is the most crucial aspect for any partner. Whether the partner is investing in the LLP or serving with his skills to LLP, the return is sought. It is the aspect not to be neglected while LLP Registration. Any income a Partner receives from an LLP is an important question and partners emphasise on receipt of maximum return from their investment made in the LLP. To incorporate the balanced remuneration clause in the LLP Agreement, the partners first need to know what the available returns are for their investments and efforts.
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