Law and Procedure of Limited Liability Partnership (7th Edition)
- Year of Publication: 2020
- Edition: 17th
- ISBN: 978-93-86920-79-9
The book is a comprehensive and clear introductory guide to the principles and practice of laws relating to the limited liability partnership. LLP form of organisation provides flexibility in the running of business activities for all the segments including service sectors and professionals as there is no restriction on the number of maximum members, capital contribution, acceptance of deposits from the partners, loans to the partners and their associate concerns, charging of interest, registration of charge, etc. together with the basic characteristics like, separate legal entity with limited liability and perpetual succession. The LLP model provides smoothness in legal compliances in the present scenario. LLP, for the purpose of Income Tax, has been made similar to partnership and necessary amendments to include the LLP in the Income-tax Act, 1961 and the Income-tax Rules, 1962 have been made.
This book contains 20 Chapters in a very simple language. Special chapters on “Frequently Asked Questions” on the LLP, Foreign Investment in LLP and "Taxation of LLPs" have been given. Specific care has been taken to provide provisions of the Companies Act, 2013 and rules made thereunder, wherever reference for the Companies Act, 1956 has been given under the LLP Act and Rules thereunder. More importance has been given in the book relating to the chapters for partners, incorporation of LLP and conversion of partnership firms and companies under the LLP Act, which are relevant immediately. The Book contains narrative analysis of LLP Act & Rules and provides specimens of the LLP Agreement, various notices, resolutions, minutes, filled up Forms, etc. The book not only provides adequate guidance for incorporation of new LLP, conversion of the existing organisations into the LLP but deals with the administration and running of LLPs by explaining Statement of Accounts, Solvency and the Auditors of Limited Liability Partnership; Annual Return and Maintenance of Statutory Records; Investigation; Compromise, Arrangement or Reconstruction of Limited Liability Partnerships; Filing of Forms, Payment of Fee and Prosecution; Taxation of LLPs; Notices, Resolutions, Minutes, LLP Agreements, etc.
Dr. D.K. Jain, M.Com, FCS, ACIS (UK), Ph.D., I.P. is a Practicing Company Secretary, engaged in the practising field of Company Law, Insolvency and Bankruptcy Law, LLP, SEBI and Stock Exchange compliances. He has more than 34 years of practical experience in corporate laws and has been in the profession of Company Secretary for over 25 years.
Dr. Jain is qualified as Insolvency Professional and having international professional qualification of Chartered Secretary from the Institute of Chartered Secretaries and Administrators (UK) and is a Fellow Member of the Institute of Company Secretaries of India. He has completed research work on Generally Accepted Accounting Principles and its effect on final accounts (a comparative study of GAAP of India, UK and USA).
Dr. Jain has authored several books for professionals on more than 20 topics Company Law and other allied laws which includes Company Law Ready Reckoner, LLP, FEMA, SEBI (LODR) Regulations, 2015, etc. He is a regular contributor of articles on various corporate matters in professional journals and speaker on the Company Law, Insolvency Law, SEBI Listing Regulations etc.
Dr. Jain has also served as the member of the Research and Publication Committee and as the member of Editorial Board of monthly bulletin “Focus” published by the Western India Regional Council of the Institute of Company Secretaries of India and also served as a member of the Management Committee of the CCGRT of the ICSI and member of the Research Group of ICSI. He is also member of the Editorial Board of the “Chartered Secretary” of the ICSI.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
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- Year of Publication: 2020
- Edition: 17th
- ISBN: 978-93-86920-79-9
The book is a comprehensive and clear introductory guide to the principles and practice of laws relating to the limited liability partnership. LLP form of organisation provides flexibility in the running of business activities for all the segments including service sectors and professionals as there is no restriction on the number of maximum members, capital contribution, acceptance of deposits from the partners, loans to the partners and their associate concerns, charging of interest, registration of charge, etc. together with the basic characteristics like, separate legal entity with limited liability and perpetual succession. The LLP model provides smoothness in legal compliances in the present scenario. LLP, for the purpose of Income Tax, has been made similar to partnership and necessary amendments to include the LLP in the Income-tax Act, 1961 and the Income-tax Rules, 1962 have been made.
This book contains 20 Chapters in a very simple language. Special chapters on “Frequently Asked Questions” on the LLP, Foreign Investment in LLP and "Taxation of LLPs" have been given. Specific care has been taken to provide provisions of the Companies Act, 2013 and rules made thereunder, wherever reference for the Companies Act, 1956 has been given under the LLP Act and Rules thereunder. More importance has been given in the book relating to the chapters for partners, incorporation of LLP and conversion of partnership firms and companies under the LLP Act, which are relevant immediately. The Book contains narrative analysis of LLP Act & Rules and provides specimens of the LLP Agreement, various notices, resolutions, minutes, filled up Forms, etc. The book not only provides adequate guidance for incorporation of new LLP, conversion of the existing organisations into the LLP but deals with the administration and running of LLPs by explaining Statement of Accounts, Solvency and the Auditors of Limited Liability Partnership; Annual Return and Maintenance of Statutory Records; Investigation; Compromise, Arrangement or Reconstruction of Limited Liability Partnerships; Filing of Forms, Payment of Fee and Prosecution; Taxation of LLPs; Notices, Resolutions, Minutes, LLP Agreements, etc.
Dr. D.K. Jain, M.Com, FCS, ACIS (UK), Ph.D., I.P. is a Practicing Company Secretary, engaged in the practising field of Company Law, Insolvency and Bankruptcy Law, LLP, SEBI and Stock Exchange compliances. He has more than 34 years of practical experience in corporate laws and has been in the profession of Company Secretary for over 25 years.
Dr. Jain is qualified as Insolvency Professional and having international professional qualification of Chartered Secretary from the Institute of Chartered Secretaries and Administrators (UK) and is a Fellow Member of the Institute of Company Secretaries of India. He has completed research work on Generally Accepted Accounting Principles and its effect on final accounts (a comparative study of GAAP of India, UK and USA).
Dr. Jain has authored several books for professionals on more than 20 topics Company Law and other allied laws which includes Company Law Ready Reckoner, LLP, FEMA, SEBI (LODR) Regulations, 2015, etc. He is a regular contributor of articles on various corporate matters in professional journals and speaker on the Company Law, Insolvency Law, SEBI Listing Regulations etc.
Dr. Jain has also served as the member of the Research and Publication Committee and as the member of Editorial Board of monthly bulletin “Focus” published by the Western India Regional Council of the Institute of Company Secretaries of India and also served as a member of the Management Committee of the CCGRT of the ICSI and member of the Research Group of ICSI. He is also member of the Editorial Board of the “Chartered Secretary” of the ICSI.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
