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Monday, July 5, 2010

LLP


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LLP: A corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership.
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Registrar’s Notice Board


Process to Start LLP
Ministry of Corporate Affairs

1) Every LLP shall mandatorily file Form 3 and Form 4 within 30 days of incorporation failing which Rs.100/- per day will be charged as additional fees on each Form.

2) Form 7 shall be digitally signed by applicant's own DSC. The DSC of other partners and professionals should not be used while applying Form 7.

Ministry of Corporate Affairs

Form 11 is made available at http://llp.gov.in. All LLPs whose financial year closes on 31st March of every year has to file Form 11 within 60 days from the date of financial year closure without any late fee and later it attracts additional fees @ of Rs. 100/- per day of delay. This financial year (closed on 31/03/2010), the due date falls on 30/05/2010.

This year Filing of Form 11 before 30/05/2010 is mandatory for all the LLPs incorporated before 01/10/2009 i.e. upto LLP No. AAA-0244 and optional for other LLPs if they are opting closure of Books of Accounts on 31/03/2011 (as 1st Financial Year) instead of on 31/03/2010.



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