Reporting Beneficial Interests in LLP
Reporting Beneficial Interests in LLP | Third Amendment Rules of 2023 LLP (Third Amendment) Rules, 2023 specifies the Maintenance of the Register of Partners and Declaration regarding beneficial interests. This Amendment has introduced the need to maintain the Register of Partners at the Registered office and they are required to declare the names of the persons of the LLP holding interest in the LLP by way of contribution through a nominee or registered holder. Applicability of the Rules: The [...]
Step-by-Step Guide to Securities Dematerialisation in 2023
Step-by-Step Guide to Securities Dematerialisation in 2023 It has been notified under the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023 that every private company except Small Companies and Government Companies must issue their securities only in dematerialised form within 18 months from the closure of FY i.e 31st March 2023 in accordance with the provisions of Depositories Act. It was mandatory for Listed and Unlisted companies to have their shares and securities in Dematerialised form for smooth [...]
Understanding Professional Tax in Odisha: A Comprehensive Guide
Understanding Professional Tax in Odisha: A Comprehensive Guide Recent Update: Numerous businesses registered under GST in Odisha are receiving show cause notices from the Department in Form XV due to non-payment or non-registration under the professional tax. To gain comprehensive knowledge about the applicable professional tax, please refer to the article provided below. Professional tax is a form of direct taxation imposed by state governments throughout India. As a state-specific tax, the rules pertaining to its collection, payment, and [...]
6 Tips To Keep Your Business Safe from Special All-India Drive against fake GST registrations
Six Ways To Keep Your Business Safe from Special All-India Drive against fake GST registrations Starting on 16th May 2023, the GST Department will initiate a unique nationwide campaign targeting counterfeit GST registrations. As per the official notification from the Central Board of Indirect Taxes & Customs (CBIC), a Special All-India Drive will be launched by both Central and State tax administrations from May 16, 2023, to July 15, 2023. The objective of this drive is to identify suspicious/fake [...]
Advantages of a Producer Company for Farmers, Producers, and Agriculturists
Advantages of a Farmer Producer Company A Farmer Producer Company or a Producer Company is a legally recognized entity of farmers and agriculturists who join together to collectively undertake activities related to the production, procurement, harvesting, grading, pooling, handling, marketing, and selling, or export of primary produce. The main objective of a Producer Company is to promote the interests of its members and improve their profitability by facilitating the formation of corporate businesses into companies and converting existing cooperative [...]
LLP Annual Returns: All You Need to Know
LLP Annual Returns: All You Need to Know Updated: 02-05-2023 The Limited Liability Partnership (LLP) was introduced in India in 2008 as a corporate business vehicle that provides the benefits of a partnership while also limiting the partners' liability. Despite the easy and cost-friendly incorporation process, LLPs have annual compliance requirements that must be fulfilled. LLPs must adhere to LLP annual returns, which are mandatory for all LLPs regardless of their transactions. These annual compliances include filing the Annual [...]
