Information sharing platform related to Corporate , Taxation & Insolvency Laws.

  “Smart people learn from everything and everyone, average people from their experiences, stupid people already have all the answers.” – Socrates Limited Liability Partnership (LLP)     Meaning of LLP:- Section 2(n) of Limited Liability Partnership Act, 2008 define the meaning of LLP as- “Limited Liability Partnership” means a partnership formed and registered under this Act; LLP is hybrid of Partnership Firm and Private Limited Company. In the case of normal partnership firm the liability of partners are unlimited. However in the case of LLP the liability of partners are limited as shareholders/members of Private Limited Company. An LLP has all basic features of a regular partnership firm, except that of same legal entity status and unlimited liability of partners. Consequently, limited liability partnerships have legal existence and identity separate from that of its partners. Furthermore, its partners have limited liabilities. Section 2(11) of Companies Act,...

  Create your business entity in the form of Private Limited Company. Meaning of Private Limited Company Section 2(68) of the Companies Act, 2013 define Private Limited Company as – Private Company" means a  company having a minimum paid-up share capital  as may be prescribed, and which by its articles],— ( i ) restricts the right to transfer its shares; ( ii ) except in case of One Person Company, limits the number of its members to two hundred: Provided  that where two or more persons hold one or more shares in a company jointly, they shall, for the purposes of this clause, be treated as a single member: Provided further  that— ( A ) persons who are in the employment of the company; and ( B ) persons who, having been formerly in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased, shall not be included in the number of members; and ( iii ) prohibits...