Business Startup, Startup Consultant

Limited Liability Partnership is one of the most popular and beneficial ways of setting up a business. With benefits like limited liability, unlimited partners, a combination of benefits from a corporation and a partnership, etc., it becomes one of the most widely formed business entities across India. However, what are the compliance requirement, what ideal annual compliance for Limited Liability Partnership package should contain, is it complicated? A ll these questions shall be addressed by learning more about the compliance requirements of an LLP company. ·          LLPRegistration The LLP has to be registered with the Registrar of Companies as well as the Ministry of Corporate Affairs. ·          Filing of Form 11 Form 11 is the annual return for an LLP and includes details about any restructuring that took place during the financial year. It also consists of details with respect to cha...

One Person Company and Limited liability partnership are two of the most common business entities that prevail in India. Both of them have a set of rules and compliances that need to be followed in order to run the business smoothly without any worries and legal matters. There are many major differences in the Annual compliance for OPC and that of an LLP. Here, we will discuss the end to end compliances that are required for both the entities along with various regulations and laws required to govern them One Person Company The OPCs work according to the Companies Act, 2013 and all the associated rules. Starting from maintaining the accounts books to the composition of annual financial statements and getting various events approved for the company by conducting general meetings and board meetings are some of the major Annual compliances for OPC . Limited Liability Partnership Similar to OPC, there are important Annual compliances for LLP as well that a company...

     Starting a business and running it is never an easy task. You need a lot of patience, skills, time, determination and very importantly a good amount of money to make it move ahead. There are a lot of formalities, law adherence, GST filings, return filings, registration in various departments and so on. To make your business run smoothly, it becomes mandatory that you follow all these rules and regulations and that you are saved from heavy penalties. Today, we are going to discuss one such entity i.e. LLP and all the mandatory Annual Compliance for LLP Company . What is an LLP? LLP refers to a limited liability partnership. It is one of the business entities which are registered under the MCAs (Ministry of corporate affairs). In order to get registered under LLP, a minimum of two people are required as partners and one out of them should mandatorily be an Indian native and resident. It is the responsibility of both the partners to file the income tax r...