Tag Archives: LLP

Limited Liability Partnership- Practice Book 2016

Limited Liability Partnership- Law and Practice BUY Limited Liability Partnership- Law and Practice A LLP contains features of two long-standing forms of business associations, namely the ‘company’ and the ‘partnership firm’. A LLP, thus, is a hybrid of a company and a partnership. To explore this new business structure, every businessman and professional would need… Read More »

conditions for conversion of company into LLP

Q : What basic conditions are required to be checked for conversion of company into LLP?    Answer: Following points should be noted for conversion of Company into LLP: All themembers of the Company shall become the partners of the LLP on conversion. 2. No security interest in the assets of the company is subsisting or in force… Read More »

Form 11 filing date of LLP extended

General Circular No. 07/2016 F.No. MCA/21/33/2016-e-Gov cell Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan Dr. R.P. Road, New Delhi-110001 Dated  31 May, 2016 All the Regional Directors All the Registrar of Companies/Official Liquidators All Stakeholders Sub: Relaxation of additional fees and extension of time for filing of e­-Forms by… Read More »

LLPs receiving Foreign Direct Investment shall submit Annual return on foreign liabilities and assets

FEMA (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) (SEVENTH AMENDMENT) REGULATIONS, 2015 – AMENDMENT IN SCHEDULE 9 NOTIFICATION [NO.FEMA.351/2015-RB]/GSR 745(E), DATED 30-9-2015 In exercise of the powers conferred by clause (b) of sub-section (3) of section 6 and section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the… Read More »

Limited Liability Partnership Questions and Answers

 What are the steps to incorporate Limited Liability Partnership ? Name reservation: The first step to incorporate Limited liability partnership (LLP) is reservation of name of Limited Liability Partnership . Applicant has to file eForm 1, for ascertaining availability and reservation of the name of a LLP business. Incorporate Limited Liability Partnership : After reserving a name, user… Read More »


LIABILITY OF PARTNERS  1. Nature & extent of liability of a partner of an LLP? Every partner of an LLP would be, for the purpose of the business of the LLP, an agent of the LLP but not of the other partners. Liability of partners shall be limited except in case of unauthorized acts, fraud… Read More »


MERGER AND WINDING UP OF LLP s  1. Whether two LLPs would be allowed to merge? Provisions of section 60 to 62 of the Act provide for the manner in which compromises or arrangements including mergers and amalgamations involving LLPs shall be allowed. 2. What is the date of implementation of these Guidelines? It is… Read More »


CHANGE IN PARTNERS  1. How can a person become a partner of an LLP? Persons, who subscribed to the “Incorporation Document” at the time of incorporation of LLP, shall be partners of LLP. Subsequent to incorporation, new partners can be admitted in the LLP as per conditions and requirements of LLP Agreement. 2. How can… Read More »

stamp duty on LLP

Query:  We have a query regarding the amount of stamp duty on LLP Agreements as on what basis stamp duty is paid? Answer: Since Stamp Duty is the subject reserved for the States, the LLP Act does not contain any provision for treatment of stamp duty issues. The stamp duty payable will depend upon the relevant Stamp… Read More »