Smaller companies in computer services, real estate and trade activities are embracing the limited liability partnership structure in a big way, while large professional firms are staying away due to a lack of regulatory clarity on issues such as stamp duty and taxation. LLP, a form of business organisation that combines the benefits of partnership [...]
Archive for the ‘LLP’ Category
LLP: Hit with SMEs but large cos staying away due to tax ambiguity
Posted by khyati on October 11th, 2010
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Finance, Commerce Min’s clash over FDI in LLPs too
Posted by admin on March 31st, 2010
The finance ministry and the commerce ministry have extended their squabbles over FDI into LLPs, a form of business organisation that combines the best features of partnerships and companies.
The finance ministry said it wants LLPs to have the same FDI guidelines that govern companies.
Don’t make LLP a taxing conversion
Posted by admin on March 25th, 2010
The Limited Liability Partnership (LLP) Act, 2008, was expected to provide a big boost to the formation of LLPs that were seen as one of the modern forms of doing business in the developed world.
While few firms registered as LLPs, there have been very few existing firms or companies that have expressed willingness to convert to an LLP.
49% FDI in Selective sector LLPs
Posted by admin on March 11th, 2010
Foreign investors may soon be able to set up Limited Liability Partnerships, or LLPs, in India, as the government is all set to allow foreign direct investment in this new form of business organisation.
Initially, FDI up to 49% may be allowed in LLPs in select sectors such as manufacturing, a DIPP official told.
RBI will amend rules to control NBFCs turning LLPs
Posted by admin on March 10th, 2010
The Reserve Bank of India plans to amend its rules to pre-empt non banking finance companies from misusing the liberal rules governing limited liability partnership firms.
In the interim, NBFCs that want to convert themselves to LLP firms will have to obtain a no-objection certificate from the central bank.
LLPs will soon bring Bill letting Accounting Pros
Posted by admin on February 26th, 2010
The government is set to introduce Bills to amend existing laws governing chartered accountants, cost accountants and company secretaries in the current Budget session, a senior government official said.
The proposed amendments will allow registration of large size consultancy firms in India. “We are hopeful that the three Acts would be placed for amendment in this Budget session,” ministry of corporate affairs secretary R Bandyopadhyay said.
