Mandatory Compliances for an LLP (Limited Liability Partnership)

All LLPs registered with the Ministry of Corporate Affairs need to file Annual Returns and Statement of Accounts for every Financial Year. It is mandatory for a LLP to file a return irrespective of whether it has done any business. There are three mandatory compliance requirements to be followed by LLPs. Filing of Annual Return …

Penalty for Non-filing of LLP annual returns – Can winding up save penalty?

Although Limited Liability Partnership is one of the most popular forms of starting a business, there are various compliances which are required to be followed annually once the business is incorporated. The Annual Compliances of LLP primarily include: Filing of Annual Return of the LLP in Form 8 – Due date 30th October of the succeeding FY Filing of …

Compliances for Private Limited Company, LLP and OPC – a clear comparison

Being a Chartered Accountant and interacting with several entrepreneurs, I found that the most common question bothering startup founders is which business entity to form and what are the compliances of these entities. Hence, there is a need to summarize this essential information in a comprehensive manner and layman terms. The three most preferred business …

5 reasons why Private Limited Company or LLP is preferred

The most common problem which startups or new ventures face while starting their business is whether to form a proprietorship or a Company. Sole Proprietorship, being the most traditional form of business is still one of the most common types of business entity in India. The easy formation procedure and minimum compliance requirements in a …