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 …

Mandatory Compliances for a Private Limited Company in India

Although Private Limited Company is the most popular form of starting a business, there are various compliances which are required to be followed once your business is incorporated. Managing the day to day operations of your business along with complying the corporate laws can be little taxing for any entrepreneur. Hence, it is essential to …

Taxation of Bitcoins or Crytocurrencies in India

Cryptocurrency in simple terms is “digital money” and Bitcoin is the first decentralized digital currency. It is not yet centrally administered or regulated by any specific body like the RBI which administers physical currency in India. The system works without a central bank or single administration. India is not isolated from the rising popularity of …

How to convert Proprietorship to a Private Limited Company

Many small business owners start out as sole proprietors of their firms. Sole proprietorship is the most common and simplest form of business structure. This form of business has its own advantages: easy formation, limited paperwork, small capital requirement, and minimum compliance requirements. As the business starts spreading its roots, the next logical move would …

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 Limited Liability Partnership (LLP) vs Partnership Limited Liability Partnership – A corporate form of Partnership Limited Liability Partnership …