Key Compliances under Limited Liability Partnership (LLP) Act, 2008
The Limited Liability Partnership (LLP) Act, 2008, read together with the LLP Rules, was introduced to provide a hybrid business structure that combines the flexibility of a partnership with the limited liability of a corporate entity.
Application for Registration of Public Trust under Rajasthan Public Trust Act, 1959
The Rajasthan Public Trusts Act, 1959 governs the registration, administration, and regulation of public trusts in the state. Registration ensures transparency, proper governance, and legal recognition of trusts created for charitable, religious, or social purposes. The Assistant Commissioner, under the supervision of the Commissioner, is the designated authority for registration and record maintenance of public trusts.
Relationship of Partners and LLP Agreement Related Compliances under the LLP Act, 2008
The Limited Liability Partnership Act, 2008 (LLP Act) defines how partners within an LLP interact with each other and the firm itself. Section 23 of the Act specifically deals with the relationship of partners, outlining their rights, duties, and obligations through the LLP Agreement when read with Limited Liability Partnership (Third Amendment) Rules, 2023. This agreement forms the foundation of how the LLP operates and how partners share responsibilities, profits, and liabilities.
Registration under Indian Partnership Act, 1932
The Indian Partnership Act, 1932 was enacted to provide a comprehensive law governing partnerships in India. Before this, partnership provisions were included in the Indian Contract Act, 1872. With the growth of trade and the increasing importance of partnerships in commerce, a separate legislation was required. The Act came into effect on 1st October 1932, laying down rights, duties, and obligations of partners, along with rules for the formation, registration, and dissolution of partnership firms.
Appointment of Auditor in Limited Liability Partnership
In India, a Limited Liability Partnership (LLP) is a popular business structure that combines the flexibility of a partnership firm with the limited liability benefits of a company. Governed by the Limited Liability Partnership Act, 2008, LLPs are designed to provide entrepreneurs with a business model that offers operational ease and fewer compliance requirements compared to companies
LLP Form 8 and Maintenance of Books of A/c
Every LLP should maintain proper books of a/c relating to its affairs each year and prepare a Statement of A/c and Solvency for the FY as at the last day of the F.Y. in Form 8
LLP Form 11
Every limited liability partnership shall file an annual return within sixty days of closure of its financial year, along with all the documents which are required to be or attached to such annual return, duly authenticated with the Registrar in LLP Form No. 11