LLP Closure Procedure in India – A Step-by-Step Guide
LLP Closure Procedure in India – A Step-by-Step Guide A Limited Liability Partnership (LLP) is a flexible business structure that combines the benefits of a partnership with the advantages of limited liability. However, when an LLP becomes inactive, non-operational, or financially unviable, it's important to formally close it in compliance with legal requirements. Failure to do so may lead to hefty penalties, late fees, and continuous compliance obligations. This article explains the LLP closure procedure in India, including strike-off [...]
Partner Remuneration Calculator: Limits, TDS Rules & Interest
Partner Remuneration Calculator: Limits, TDS Rules & Interest on Loans Explained When structuring compensation in a Limited Liability Partnership (LLP) or traditional partnership firm, partners may receive remuneration, capital interest, loan interest, and profit share. However, to claim these amounts as allowable business deductions under the Income Tax Act, specific conditions must be met. This article serves as a complete guide on how to use a Partner Remuneration Calculator effectively—covering the latest tax limits, TDS provisions, and the treatment [...]
Partner’s Remuneration Under Section 40(b): Complete Guide
Partner’s Remuneration Under Section 40(b): Complete Taxation Guide In the realm of Indian partnership firms, partners often contribute more than just capital—they bring in expertise, management skills, and strategic direction. To compensate for these contributions, firms provide partners’ remuneration, encompassing salaries, bonuses, commissions, and other forms of payment. Grasping the nuances of its calculation and taxation is pivotal for both partners and firms to ensure adherence to tax laws and optimise financial planning. This provision also presents a valuable [...]
LLP Registration for NRIs and Foreign Nationals in India
Can Foreigners Register a LLP in India? A Complete Legal & Compliance Guide India continues to be an attractive destination for global entrepreneurs and businesses. With its liberalized FDI policies and simplified corporate structures, incorporating a Limited Liability Partnership (LLP) in India has become a viable entry strategy for foreign nationals and foreign companies. In this guide, we explain the legal framework, eligibility, regulatory requirements, and compliance obligations for foreigners planning to register a LLP in India. Is It [...]
Step-by-Step Guide to Applying for Funding through Startup India Investor Connect
Funding through Startup India Investor Connect Startup India stands as a pivotal initiative by the Government of India, aimed at fostering a culture of innovation and entrepreneurship within the country. This program is designed to create a supportive and inclusive ecosystem for emerging businesses. Through the Startup India initiative, qualifying enterprises can achieve recognition as Startups by the Department for Promotion of Industry and Internal Trade (DPIIT), unlocking a suite of advantages including tax exemptions, streamlined compliance procedures, expedited [...]
Trademark Application Class 23 Yarns and Threads in the Textile Industry
Trademark Application Class 23 Yarns and Threads in the Textile Industry In this blog we aim to provide a detailed overview of Class 23 in the Trademark Classification process. Choosing the right trademark class is important for successful trademark use. Sometimes the application falls into more than one category, providing better protection. That’s why choosing the right class is so important—it reinforces the effectiveness of the entire application process. Trademark Class 23 Overview The textile industry, a cornerstone of [...]
