[vc_row][vc_column][vc_column_text]Background of LLP in India – In the Indian context, businesses are typically structured or organized as sole proprietor concerns, partnership firms or companies (either public or private limited). These types of business organizations have their individual advantages and disadvantages. For example, a partnership firm provides flexibility in internal organization, right to participate in the …
In this article an endeavor is made to discuss the basic provisions of Foreign Contribution Regulation Act, 2010 with particular focus on the changes brought about vis-à-vis Foreign Contribution Regulation Act, 1976. The basic purpose of Foreign Contribution Regulation Act, 2010 (FCRA, 2010) is to consolidate the law to regulate the acceptance and utilisation of …
S. No. Compliance Form to be filed Relevant Law Due date 1. Payment of Service tax TR-6 Service Tax Rules, 1994 5th June 2. Excise Duty payment GAR 7 Central Excise Rules, 2002, 5th June 3. Profession Tax Monthly Return Form V Andhra Pradesh Tax on Professions, Trades, Callings and Employments Act, 1987. 15th June …
Compliances for the period 25th May to 25th June Read More »
The RBI vide a recent circular, dated May 27, 2011 has made certain changes to the prevailing ODI Regulations. The objective is to provide operational flexibility to Indian Corporates having investment abroad. Some of the changes brought about are with respect to: Performance Guarantees issued by the Indian Party. Restructuring of the balance sheet of …
Overseas Direct Investment, Liberalization/Rationalization Read More »
[vc_row][vc_column][vc_column_text]FDI in LLP – After 2 years of notification of the Limited Liability Partnership Act 2008, and after 5 months of issuing a discussion paper on allowing Foreign Direct Investment (FDI ) in the Limited Liability Partnership (LLP) , the Government of India on 11th May, 2011 has approved the much awaited policy on FDI …
As per the MCAs notification dated 23rd May, 2011, the Central Government has specified, the Limited Liability Partnership, a body corporate, incorporated under clause (1) of section 3 of Limited Liability Partnership Act, 2008, for the limited purpose of clause (a) of section (3) of section 226 of the Companies Act, 1956.
The Ministry of Corporate Affairs vide its notification no. 09th May 2011 has amended the Companies Regulations, 1956 and these regulations are called Companies (Amendment) Regulations, 2011. In the Companies Regulation, 1956 in Part B, in regulation 3,5,7,9 and 14 for the word “Regional Director” the word “Registrar of Companies” shall be substituted. In the …
The Ministry of Corporate Affairs had notified Companies (Particular of Employees)Amendment Rules, 2011 vide GSR 289 (E) dated 31.03.2011 raising the limit of employee’s salary to be disclosed in the Directors Report from Rs. 24 Lakhs per annum or Rs. 2 lakhs per month to Rs. 60 Lakhs per annum or Rs. 5 Lakhs per …
The Ministry of Corporate Affairs has noticed that companies are making applications for getting prior approval of Central Government when they propose to make any loan to, or give any guarantee or provide any security in connection with a loan made by any other person to a Public Limited Company of which any such director …
Loan to Public Limited Companies under Section 295 of the Companies Act, 1956 Read More »
The Ministry of Corporate Affairs had issued a Circular bearing No 09/2010 dated 31.03.2010 as per which it had mandated certain class of companies to file balance sheets and profit and loss account for the year 2010-11 onwards by using XBRL taxonomy. MCA has now issued a Corrigendum vide circular No. 25/2011 dated 12th May, …
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