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
- Filing of Statement of the Accounts or Financial Statements
- Filing of Income Tax Returns
Continue reading “Mandatory Compliances for an LLP (Limited Liability Partnership)”
With a new set of rules that simplify the process of company incorporation, the government aims to make it easier to do business in India. Here’s a look at the revised process.
Continue reading “Government announces company incorporation with zero fees”
Phantom stock is a very interesting concept and is emerging strongly as a powerful tool of Employee Benefits, especially for Startups. It can be described as a type of employee benefit plan whereby employees or advisors of an Organization get various benefits of stock ownership without actually having real ownership of Stock, in exchange for their services. Continue reading “Phantom Stock – A smart way of Employee Benefits”
A successful business requires investment of time, effort and MONEY for its long term growth and prosperity. Infusion of funds is an essential pre-requirement, especially for Startups if they want to scale up and make their brand popular and visible.
Innovative and promising Startups or businesses always attract enterprising investors who are ready to stake their money and a get a good return out of the same. The difficult part arrives when the decision on the mode of funding has to be evaluated. Continue reading “Modes of Funding/Capital Infusion for Startups”
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 Financial Statements of the LLP in Form 11 – Due date 30th May of the succeeding FY
Continue reading “Penalty for Non-filing of LLP annual returns – Can winding up save penalty?”