CompaniesInn

LLP Compliance Calendar 2012

2012-02-17T04:11:00.001-08:00

LLP Compliance Calendar 2012

Every LLP Registered on or before 30^th September 2011 have tofile returns for the year ending 31.03.2012. Filing of returns is mandatory whetherthe LLP has done any business or not.

Annual Compliance Filing for LLP’s registered on or after 1stOctober 2011 will fall only in the year 2013.

DATES TO BE REMEMBERED IN 2012

A. REGISTRAR OF LLP

	Due date for filing	Last date for filing
Annual Return (Form 11)	01-04-2012	30-05-2012
Accounts (Form 8)	01-04-2012	30-10-2012

B. INCOME TAX RETURN

	Due date for filing	Last date for filing
In case Audit is not required	01-04-2012	31-07-2012
In case Audit is required	01-04-2012	30-09-2012

helpdesk@companiesinn.com

ANNUAL STATUTORY COMPLIANCES BY AN LLP

2012-02-17T04:10:00.000-08:00

Allthe Limited Liability Partnership’s (LLP) Registered under the LLP Act 2008 arerequired to file the following returns mandatorily whether the LLP do businessor not.

A. FILING WITH REGISTRAR OF LLP

1. Filing of Annual Return

An LLP is required to file the Annual Return with theRegistrar of LLP (Form 11) within 60 days of closure of its financial year. AnLLP has to close its financial year on every 31^st March. So, theAnnual Return is to be filed on or before 30^th May every year.

2. Filing of Annual Accounts

Every LLP has to maintain books of accounts as per doubleentry system of accounting and prepare a Statement of Accounts and Solvency(Accounts) every year ending on 31st March. LLP has to file such Accounts tothe Registrar of LLP (Form 8) within 30 days from the end of 6 months of suchfinancial year. So, the filing of Accounts is to be filed on or before 30thOctober every year.

In case of an LLP whose annual turnover exceeds Rs.40 lakhsor whose contribution exceeds Rs.25 lakhs, shall be required to get itsaccounts audited by a qualified Chartered Accountant.

B. INCOME TAX

As perIncome Tax Act, LLP has to close its financial year as on 31^st Marchevery year and has to file the returns with Income Tax Department.

In caseof LLP whose annual turnover is more than Rs.60 Lakhs, the accounts have to beaudited as required under Income Tax Act as well.

A LLPhave to file its Income tax Returns on or before the due dates as follows:

LLP whose accounts are not required to be audited under any Law	31^st July of every year
LLP whose accounts are subject to Audit under any Law	30^th September of every year or such other date as may be notified by the Income Tax authorities.

For any Clarification, please mailto helpdesk@companiesinn.com

CLOSING OF LLP – Application for striking of Name by a Defunct LLP

2012-02-16T00:20:00.000-08:00

CLOSINGOF LLP – Application for striking of Name by a Defunct LLP

AnLLP fulfilling the following conditions can file an application for striking ofName from the Register of LLP.

1. TheLLP should have filed all the Annual Returns and Accounts up to date.

2. LLPshould not have any assets / liabilities as on date of application.

3. LLPshould not have any bank account.

4. LLPshould be inoperative from the date of incorporation OR inactive for aperiod of last one year

5. LLPshould prepare a latest statement of Balance Sheet and Profit and Loss Account –not older than 30 days from the date of application

6. Oneof the Designated Partner should have a valid Digital signature

For more information and details, please contact helpdesk@companiesinn.com

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About Companiesinn.com (www.companiesinn.com)

2011-10-07T04:40:00.001-07:00

About Companiesinn.com (www.companiesinn.com)

www.CompaniesInn.com provides business incorporation and start- up services acrossIndia. We help in Companyregistration, LLP Registration and other registration required for starting abusiness anywhere in India. We also provide Accounting,Taxation and Corporate and Legal Compliance related services.

Our Vision:Simplify Incorporation, Legal,Accounting and Taxation Services.

Our Mission:Provide cost-effective, transparent and time boundservices to our customers

· Simple process

Our registration servicesare simple; anyone can register a company or LLP by placing an order in ourwebsite.

· Cost effective

CompaniesInn.com ispromoted with objectives delivering cost effective incorporation and businessstart- up services to new business. Our setup cost is around 40% belowthe market rate

· No hidden cost

We believe in transparentand all inclusive pricing without any hidden cost.

· Fast delivery

With the help of professional team we deliver servicesat shortest possible time

CompaniesInn Highlights

Ø Promoted byCompany Secretaries

Ø IncorporationKiosk in major cities in India

Ø Registered theFirst Limited Liability Partnership (LLP)

Ø Helped more than2500 entrepreneurs to get their Company / LLP registered in India from acrossthe Globe.

To know more about companiesinn.com, visit www.companiesinn.com

Contact: info@companiesinn.com

www.companiesinn.com

(Pioneers of onlineincorporation in India)

©CompaniesInn.comLLP

PROCEDURE FOR REGISTERING LLP INDIA

2009-04-22T18:45:00.002-07:00

LLP FORMATION STAGES

Stage I - Partners
Stage II - DPIN & DSC
Stage III - Name filing
Stage IV - Agreement
Stage V - Filing of Incorporation documents
Stage I – Partners
To form a LLP, there Minimum two partners and at least two shall be designated partners having DIPN. In case of body corporate as partners, their nominee can be act as designated partners. Out of two designated partners, one must be resident in India. (Who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding financial year)
Stage II - Obtaining DPIN & Digital Signature
DPIN can be obtained by making an application online with www.llp.gov.in After submitting the online application, signed physical copy of Form 7 has to be submitted to Ministry of Corporate Affairs along with certified copies of address proof and Identity proof of the applicant.
Digital Signature can be obtained from any of the Certifying Authorities in India.
Stage III - Name filing
After finalization of name, an application of name availability has to be filed in form 1 with www.llp.gov.in for approval. Please note that selection of name is subject to Guidelines issued by MCA.
Stage IV - Agreement
LLP agreement has to be drafted line with LLP Act. It is not mandatory to file LLP agreement at the time of registration and same can be file with in 30 days. If no agreement is framed, provisions of Schedule I of the LLP Act shall be applicable.
Stage V - Filing of Incorporation Documents
The following documents along with required attachments has to be filed with www.llp.gov.in
Form 2 : Details of partners, registered office etc
Subscription Sheet: All partners are required to subscribe their names along with signatures to the subscription sheet, which shall be witnessed by any chartered Accountant/Company Secretary/Advocate in practice.
Form 4: Consent of Partners - Consent of each partner to become a partner of Liability Partnership
Form 3: LLP agreement – this can be filed with in 30 days from the date of registration
Above said documents are required to be filed after signing digitally. After verification, registrar will register all documents and issue Certificate of Incorporation.
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Designated Partner

2009-04-22T18:45:00.001-07:00

Designated Partner

Every LLP should have minimum 2 designated partners who are individuals and at least one of them should be resident in India.
A person or nominee of a body corporate, intending to be appointed as who is appointed as designated partner of LLP should hold a Designated Partner Identification Number (DPIN) allotted by the Ministry of Corporate Affairs.

DPIN can be obtained by submitting application along with address proof and identity proof of the individuals.
For more information logon to www.companiesinn.com

Partners of LLP

2009-04-22T18:43:00.001-07:00

Partners of LLP
An LLP should have minimum 2 partners. In case any Body Corporate is a partner, then it will be required to nominate any person (natural) as its nominee for the purpose of the LLP.
Partner of LLP can be consisted of
· Companies incorporated in and outside India
· LLP incorporated in and outside India
· Individuals Resident in and outside India
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Pre-requisites for registering a LLP

2009-04-22T18:42:00.001-07:00

Pre-requisites for registering a LLP

Minimum 2 Partners (Individual or body corporate)
Minimum 2 Designated Partners who are individuals and at least one of them should be resident in India.
Digital Signature Certificate
LLP Name
LLP Agreement
Registered Office

For more information logon to www.companiesinn.com

FIRST online incorporation documents (Form 2) with www.llp.gov.in

2009-04-22T18:37:00.000-07:00

CompaniesInn has filed the FIRST online incorporation documents (Form 2) with www.llp.gov.in

LLP Name – Guidelines

2009-04-22T18:36:00.001-07:00

LLP Name – Guidelines
The guidelines for the availability of LLP names are prescribed by the LLP Act.
· The name of the limited liability partnership shall not be one prohibited under the Emblems and Names (Prevention of Improper Use) Act, 1950
· A Name shall not generally be reserved, if -
§ Offensive Names: It includes any word or words which are offensive to any section of the people;
§ Translation: The proposed name is the exact Hindi or English translation of the name of an existing limited liability partnership in English or Hindi, as the case may be;
§ Phonetic Resemblance: The proposed name has a close phonetic resemblance to the name of a LLP in existence, for example, J.K. LLP., Jay Kay LLP;
§ Co-operative Sector: It includes the word Co-operative, Sahakari or the equivalent of word 'co-operative' in the regional languages of the country;
§ Government Patronage: It connotes the participation or patronage of the Central or State Government, unless circumstances justify to, e.g., a name may be deemed undesirable in certain context if it includes any of the words such as National, Union, Central, Federal, Republic, President, Rashtrapati, etc;
§ The proposed name contains the words 'British India';
§ Assocation with Embassy: The proposed name implies association or connection with any Embassy or Consulate or of a foreign government which suggests connection with local authorities such as Municipal, Panchayat, Zila Parishad or any other body connected with the Union or State Government;
§ Vague Names: The proposed name is vague like D.I.M.O. Limited liability partnership or I.V.N.R. Limited liability partnership or S.S.R.P Limited liability partnership;
§ Close Similarity: It is different from the name or names of the existing limited liability partnership only to the extent of having the name of a place within brackets before the word ‘limited liability partnership’, for example, Indian Press (Delhi) LLP should not be allowed in view of the existence of the LLP named Indian Press LLP;
§ Trade mark: It includes name of registered Trade mark, unless the consent of the owner of the trade mark has been produced;
§ Identical Names: The proposed name is identical with or too nearly resembles the name of a firm or LLP or company incorporated outside India and reserved by such firm, LLP or company with the registrar in accordance with these rules;
§ It is identical with or too nearly resembles the name of the limited liability partnership or a company in liquidation or it is identical with or too nearly resembles names of the LLP or a company which is struck off, up to the period of 5 years;
§ Name Requiring Approval: It includes words like 'Bank', 'Insurance' and 'Banking', ‘Venture capital’ or ‘mutual fund’ or such similar names without the approval of the regulatory authority;
§ Misleading Names: It is intended or likely to produce a misleading impression regarding the scope or scale of its activities which would be beyond the resources at its disposal;
§ Countries Names: The proposed name includes words like French, British, German etc., unless the partners satisfy that there is some form of collaboration and connection with the foreigners of that particular country or place, the name of which is incorporated in the name;
§ Professional Names: The proposed name of limited liability partnership includes the words company secretary, chartered accountant, advocates or such similar words as indicative of a profession, as part of the proposed name, the same shall be allowed only after obtaining approval from the Council governing such profession or such authority as may be nominated by the Central Government, in this behalf.

Prohibited Words: The Ministry of Corporate Affairs of India has prescribed certain words, which should not form part of the name of LLP intended to be incorporated in India, such words are prohibited under The Emblems and Names (Prevention of improper use) Act, 1950.
Words Based on Approval: Various government regulatory authorities operating in India like Securities & Exchange Board of India, Reserve Bank of India, has prescribed certain words, which if forms part of the name of the proposed LLP to be incorporated, requires there first hand approval.
Names reserved for Foreign LLP/Companies: In case Foreign LLP/Companies have reserved their name such names shall not be available for registration.
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Branch office of Foreign LLP

2009-04-22T18:29:00.001-07:00

Branch office of Foreign LLP
A LLP registered outside India can establish an office in India and has to comply wit the provisions of LLP Act 2008.
For more information logon to www.companiesinn.com

Reservation of Name by a LLP registered out side India

2009-04-22T18:26:00.001-07:00

A foreign LLP or a foreign company can reserve its existing name by which it is registered in the country of its incorporation by making an application to Ministry of Corporate Affairs. The reservation will be valid initially for three years and is renewable thereafter.
For more information logon to www.companiesinn.com

FDI in LLP

2009-04-22T18:25:00.001-07:00

The Government of India has not notified the policy for Foreign Direct Investment in LLP.
For more information logon to www.companiesinn.com

Designated Partner Identification Number (DPIN)

2009-04-22T18:23:00.000-07:00

A person or nominee of a body corporate, intending to be appointed as who is appointed as designated partner of LLP should hold a Designated Partner Identification Number (DPIN) allotted by the Ministry of Corporate Affairs.

IMPORTANT NOTE: Director Identification Number (DIN) allotted under the Companies Act and DPIN are not same. DIN holder has to make a separate application for DPIN with his/her DIN. On submission of documents for verification, the DPIN status will be confirmed.

Management of LLP

2009-04-22T18:22:00.001-07:00

Management of LLP
Day to day operations of Limited Liability Partnership will be managed by Designated Partners, who are responsible for ensuring the compliances of all applicable laws.
Limited Liability Partnership is managed as per the LLP Agreement, however in the absence of such agreement the LLP would be governed by the framework provided in Schedule 1 of Limited Liability Partnership Act, 2008 which describe the matters relating to mutual rights and duties of partners of the LLP and of the limited liability partnership and its partners.

2009-04-22T18:20:00.000-07:00

Designated Partner Identification Number (DPIN)
A person or nominee of a body corporate, intending to be appointed as who is appointed as designated partner of LLP should hold a Designated Partner Identification Number (DPIN) allotted by the Ministry of Corporate Affairs.

IMPORTANT NOTE: Director Identification Number (DIN) allotted under the Companies Act and DPIN are not same. DIN holder has to make a separate application for DPIN with his/her DIN. On submission of documents for verification, the DPIN status will be confirmed.

Advantages and Disadvantages of LLP

2009-04-22T18:15:00.000-07:00

Advantages
· Separate legal entity
· Easy to establish
· Flexibility without imposing detailed legal and procedural requirements
· Perpetual existence irrespective of changes in partners
· Internationally renowned form of business in comparison to Company
· No requirement of minimum capital contribution
· No restrictions as to maximum number of partners
· LLP & its partners are distinct from each other
· Partners are not liable for Act of other partners.
· Personal assets of the partners are not exposed except in case of fraud.
· Easy to dissolve or wind-up
· Professionals like CS / CA / CWA / Lawyers can form Multi-disciplinary Professional LLP
· No requirement to maintain statutory records except Books of Accounts
· Less Cost of formation (Compared to a company)
Disadvantages
· LLP cannot raise funds from Public
· Any act of the partner without the other may bind the LLP.
· Under some cases, liability may extend to personal assets of partners.
· No separation of Management from owners

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LLP – A Separate Legal entity

2009-04-22T18:14:00.000-07:00

LLP is a separate legal entity, liable to the full extent of its assets; the liability of the partners would be limited to their agreed contribution in the LLP. Further, no partner would be liable on account of the independent or un-authorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner’s wrongful business decisions or misconduct.
For more information logon to www.companiesinn.com

Limited Liability Partnership - LLP oncept of LLP

2009-04-22T18:11:00.000-07:00

Limited Liability Partnerships (LLPs) are commercial vehicles which combine the features of partnership and company form of business .The concept of Limited Liability Partnership (LLP) has been introduced in India by way of Limited Liability Partnership Act, 2008 (notified on 31st March 2008).
A Limited Liability Partnership combines the advantages of both the Company and Partnership into a single form of organization. In an LLP one partner is not responsible or liable for another partner's misconduct or negligence. In an LLP, all partners have limited liability for each individual's protection within the partnership, similar to that of the shareholders of a limited company. However, unlike the company shareholders, the partners have the right to manage the business directly. An LLP also limits the personal liability of a partner for the errors, omissions, incompetence, or negligence of the LLP's employees or other agents.

for more information logon to www.companiesinn.com

COMPANY REGISTRATION - BANGALORE

2009-03-07T04:42:00.000-08:00

COMPANY REGISTRATION - INDIA

CompaniesInn, the First online company registration portal in India offers professional, fast and economical company registration services across India.

At CompaniesInn, Company Registration is an online service.

Steps: Company Registration.

1. Preliminary Information / Documentation
2. Documentation for DIN, DSC and Company Registration
3. Obtaining DIN, DSC and application for Company Name
4. Filing of documents with Ministry of Corporate Affairs (MCA) and Registration of your company

STEP 1: PRELIMINARY INFORMATION / DOCUMENTATION

A. Company Registration Details

a. Place an order in our website http://www.companiesinn.com/ with all details.
(http://companiesinn.com/companyregistrationindia/crp_main.php)

B. Documents for Applying Directors Identification Number (DIN)

Please mail / fax a copy of any of the following documents of the proposed directors (minimum 2 in case of private company and 3 in case of public limited) to CompaniesInn Bangalore office.

1. Identity Proof - Copy of valid Passport, PAN, Driving License, Voters ID card (Any ONE)

In case of a Non-Indian National, copy of passport is mandatory

2. Address Proof - Copy of valid Passport, Driving License, Telephone Bill, Bank Account Statement - not order than one month. (Any ONE)

The document must be in the name of the proposed director.

STEP 2: DOCUMENTATION FOR DIN, DSC AND COMPANY REGISTRATION

On receipt documents mentioned in Step 1B, CompaniesInn we will make online application for DIN and will forward the following documents for signature.

a. DIN Application
b. Digital Signature Certificate Application
c. Incorporation Documents
d. Guidelines for execution of documents

If required, we can courier you the above documents to your address for your signature. You can execute all registration documents based on the guidelines. If you need any clarification, CompaniesInn representative will guide you for completing the documentation.

After execution, courier all documents to Bangalore office of CompaniesInn for filing the same with Ministry of Corporate Affairs and registering your company.

STEP 3: OBTAINING DIN, DSC AND APPLICATION FOR COMPANY NAME

On receipt of documents as stated in Step 2, CompaniesInn will proceed to submit the DIN for approval and for obtaining Digital Signature.

Once DIN is approved, application for Name Availability will be filed with MCA. Please refer the Name availability guidelines while finalizing the name of the company. ( http://companiesinn.com/companyregistrationindia/name_availability.php )

On approval of Company Name by MCA, CompaniesInn will arrange for the stamping of Incorporation Documents and the same will be filed with MCA. After scrutinizing Incorporation Documents submitted, the company will be registered by the office of Registrar of Companies and the Certificate of Incorporation will be issued.

COST DETAILS

The cost involved for the registration of a company varies depends on Types / Authorised Capital of the proposed company. More information can be found in our website.
http://companiesinn.com/companyregistrationindia/purchase_option.php

MORE INFORMATION

You can read more information about the process and requirements of Company Registration at
http://companiesinn.com/companyregistrationindia/crp_sub1.php

Please feel to mail us at info@companiesinn.com or call us at +91 99009 98111/ +91 99457 54280 to clarify your queries. Any questions regarding Company Registration, compliance requirement of Companies Act etc will be clarified by Corporate Law experts in CompaniesInn.

CONTACT:

CompaniesInn.com India Private Limited
#463, 10th Main, 13th Cross, Wilson Garden, Bangalore – 560 027
Email : info@companiesinn.com
Telephone : +91 80 4219 4109
Fax : +91 80 41207989 / 41206932
Mobile : +91 9900 998111 / +91 99457 54280

CompaniesInn.com – Company Formation India, Company Registration India, Incorporation of Limited Company in India

2008-06-17T00:33:00.003-07:00

CompaniesInn.com – Company Formation India, Company Registration India, Incorporation of Limited Company in India - CompaniesInn.com, First Online Company formation service in India provides comprehensive company formation services across India.

We provide: Comprehensive Company Formation Services in India, Corporate Secretarial Services, Company Formation Services, Company Registration in India, Company Incorporation in India, Company Formation in India, Online Company Incorporation Services in India, Incorporation of Limited Companies in India, Corporate Secretarial Compliance, Trade Mark Registration, Corporate Legal Consultancy in India

For more details visit : http://www.companiesinn.com/

What is a Public Company?

2008-06-17T00:33:00.002-07:00

What is a Public Company?

A Public Company is formed with minimum of 7 members and 3 Directors

Posted by www.companiesinn.com

Types of companies that can be registered in India

2008-06-17T00:33:00.001-07:00

The following types of companies can be registered in India
a. Private Limited Company
b. Public Limited Company
c. Unlimited Liability Company
d. Companies not for Profit (Generally known as Sec.25 Companies)
e. Foreign Companies

STEPS FOR REGISTERING A COMPANY IN INDIA

2008-06-17T00:33:00.000-07:00

STEPS FOR REGISTERING A COMPANY IN INDIA

The following are the the basic requirements / steps to be taken for registering a limited company in India.

1. There should be 2 persons as Shareholders / Promoters
2. There should be 2 Individuals to be appointed as Directors of the company. Both of them should have a valid Directors Identification Number (DIN) Allotted by the Ministry of Corporate Affairs, Govt of India (MCA)
3. One of the above directors should have a valid Digital Signature issued by Certifying Authorities India.
4. A unique name to be selected and same should be made available by MCA.
5. Objects of the company to be defined.
6. An Address to be identified for the situation of Registered office of the company
7. Memorandum of Association and Articles of Association of the company to be finalized in line with provisions of the Act and to be subscribed by the promoter / shareholders or by their attorney (incase the promoter being a body corporate) by own hand.
8. Required Forms to be submitted to MCA with MOA/AOA and required registration fee to be paid.
9. On registration of the company, the Registrar of Companies of respective state will issue the Certificate of Incorporation will be issued.