July 7, 2017

Limited Liability Partnership (LLP) vs Partnership

Selection of the correct form of business entity is the most important decision taken by an entrepreneur. To make choices simpler and assist you in taking a well informed decision, here is a basic comparison chart of the three most common yet credible forms of business in today’s time. Limited […]
June 13, 2017

LLP Agreement

LLP Act 2008 defines LLP agreement as “Any written agreement between the partners of the Limited Liability Partnership or between the LLP and its partners which determines the mutual rights and duties of the partners and their rights and duties in relation to that LLP”. Hence, in simple terms, it […]
June 2, 2017

How to close LLP: Procedure for winding up of LLP

How to close LLP: Procedure for winding up of LLP A Limited Liability Partnership can be closed down by declaring the LLP as defunct. Declaring the LLP as Defunct: In case the LLP wants to close down its business or where it is not carrying on any business operations for […]
May 23, 2017

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 […]
October 25, 2015

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 is the compliance cost of these entities. Hence, there is a need to summarize this essential information in a comprehensive manner and layman […]
October 5, 2015

Private Limited Company vs LLP vs OPC

Selection of the correct form of business entity is the most important decision taken by an entrepreneur. To make choices simpler and assist you in taking a well informed decision, here is a basic comparison chart of the three most common yet credible forms of business in today’s time. Private […]
August 18, 2015

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 […]