Frequently asked questions on LLP Annual Filing

1. What is LLP Annual Filing? Limited liability partnership is a partnership with limited liability. Every LLP which are registered with the Ministry of Corporate Affairs have to file the Annual Returns and Statement of Accounts every year. 2. What are the mandatory compliances of LLP? There are mainly 3 compliances which are mandatory for…

MCA notifies – Condonation of Delay Scheme 2018

MCA notifies – Condonation of Delay Scheme 2018. Here’s a relevant pronouncement from MCA. Format of FORM-e-CODS 2018- Application for Condonation of Delay Scheme, 2018 (CODS, 2018) MCA extends condonation of delay scheme 2018 to 30/04/2018 – Learn more here

Micro, Small & Medium Enterprises explained in easy language

In accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 the Micro, Small and Medium Enterprises (MSME) are classified in two Classes: Manufacturing Enterprises-The enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the industries (Development and regulation) Act, 1951)…

Benefits of SSI or MSME registration

Indian government has provided many benefits for small scale units or medium small and micro enterprises (MSME). In order to be eligible to get these benefits, any entity should register itself as MSME/SSI enterprise under MSMED Act. Following is a list of such advantages of obtaining SSI/MSME registration in India. 1.      Collateral Free loans from…

Much Needed relaxation provided by Ministry on RUN

We all know that after incorporation of RUN Service (Reserve Unique Name), an applicant seeking reservation of name for a proposed Company or an Existing Company seeking to change its name has to apply for reservation through RUN Service only. This process seemed to be more on riskier side then on providing ease. The applicant had to…

Income tax slab rates in India – AY 2018-19 (FY 2017-18)

Income tax slab rates are decided and governed by Income Tax Act 1961 and are subject to change every year. Here are the income tax slab rates for the Financial Year 2017-18 (relevant to Assessment Year 2018-19). Income Tax Slab for Individual Tax Payers & HUF (Less Than 60 Years Old)– Part A Income Tax…

Income tax slab rates in India – AY 2017-18 (FY 2016-17)

Income tax slab rates are decided and governed by Income Tax Act 1961 and are subject to change every year. Here are the income tax slab rates for the Financial Year 2016-17 (relevant to Assessment Year 2017-18) Income Tax Slab for Individual Tax Payers & HUF (Less than 60 Years)– Part A Income Tax Slab…

Income tax slab rates in India – AY 2016-17 (FY 2015-16)

Income tax slab rates are decided and governed by Income Tax Act 1961 and are subject to change every year. Here are the income tax slab rates for the Financial Year 2015-16 (relevant to Assessment Year 2016-17) Income Tax Slab for Individual Tax Payers & HINDU UNDIVIDED FAMILY (HUF)(Less than 60 Years Old)– Part A…