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This slide share is of subject company law . In this you will learn about meaning and definition of company , types / kinds of company (private , public , holding , subsidiary , limited liability and unlimited liability company etc.) , and its characteristics.
MEANING AND DEFINITION OF COMPANY, IT'S CHARACTERISTICS AND TYPES OF COMPANYKhushiGoyal20
This slide share is of subject company law . In this you will learn about meaning and definition of company , types / kinds of company (private , public , holding , subsidiary , limited liability and unlimited liability company etc.) , and its characteristics.
This ppt. includes brief about the Memorandum of Association (MOA) and Clauses of Regulatory Framework of Companies :-
1.Introduction, meaning and importance of MOA
2.Purpose of MOA and Contents
3 Clauses of MOA well defined and tuned
The slides discuss in detail the concept of Bailment, Pledge, and Hypothecation under the Indian Contract Act, 1878. Useful for Law Students and professionals.
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Limited Liability Partnerships (LLP) are becoming an upcoming trend of corporate structure with increased flexibility of partnerships & lesser compliance costs. The shared slide aims at providing a brief overview about the meaning & statutory requirements for incorporation, pros/cons and formation procedure for LLPs. Certain provisions of the Limited Liability Partnership Act, 2008 have been specified herein. Further, recent notification issued by RBI regarding acceptance of direct investment from the foreign investors in LLPs has also been focused upon.
This ppt. includes brief about the Memorandum of Association (MOA) and Clauses of Regulatory Framework of Companies :-
1.Introduction, meaning and importance of MOA
2.Purpose of MOA and Contents
3 Clauses of MOA well defined and tuned
The slides discuss in detail the concept of Bailment, Pledge, and Hypothecation under the Indian Contract Act, 1878. Useful for Law Students and professionals.
Limited Liability Partnerships (LLP)- An OverviewChhavi Sharma
Limited Liability Partnerships (LLP) are becoming an upcoming trend of corporate structure with increased flexibility of partnerships & lesser compliance costs. The shared slide aims at providing a brief overview about the meaning & statutory requirements for incorporation, pros/cons and formation procedure for LLPs. Certain provisions of the Limited Liability Partnership Act, 2008 have been specified herein. Further, recent notification issued by RBI regarding acceptance of direct investment from the foreign investors in LLPs has also been focused upon.
Joint Venture & Strategic Alliance- hu consultancyHU Consultancy
A Joint Venture (JV) is a business arrangement in which two or more parties agree to pool their resources and expertise to achieve a particular goal. The risks and rewards of the enterprise are also shared.
Joint Venture & Strategic Alliance- hu consultancyHU Consultancy
A Joint Venture (JV) is a business arrangement in which two or more parties agree to pool their resources and expertise to achieve a particular goal. The risks and rewards of the enterprise are also shared.
For Joint Venture & Strategic Alliance contact us at (020) 2442 – 0209. Visit http://huconsultancy.com/
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-This document contains all the conceptual knowledge about: 1. partnership firm 2. LLP
- suitability/ unsuitability of both form of organisations
- benefits of LLP over firm
- Conversion process
- statutory compliances
This PPT explains about Angel Tax & Start-Ups:
1. What is Angel Tax?
2. What are Startups?
3. Is every startup eligible for benefit under Income Tax Act?
4. Tax Rates of Startups
5. Relaxation from Angel Tax
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For more updated information on Angel Tax & Startups, click here: http://bit.ly/2JRvx7H
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Limited liability partnership gowtam bhatSVS College
seminar paper presented by Gowtam Bhat, a student of II year B.Com of SVS College, Bantwal, Karnataka under the auspices of Commerce Association-focus is on LLP in India
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UNIT V SALES REPORTS AND ETHICS IN PERSONAL SELLING FOR CBCS BCOM PERSONAL ...Dr. Toran Lal Verma
UNIT V SALES REPORTS AND ETHICS IN PERSONAL SELLING FOR CBCS BCOM PERSONAL SELLING AND SALESMANSHIP. This slideshow deals with the meaning of sales report, types of sales reports, importance of sales report, meaning of sales manual, essentials of sales manual, contents of sales manual, What is a tour diary, what is cash memo, what is an order book, what are the ethics in personal selling etc.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
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Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Biological screening of herbal drugs: Introduction and Need for
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for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
2. LIMITED LIABILITY PARTNERSHIP (LLP)ACT, 2008
• The act came into Existence in 7th January, 2009.
• The Act contains 81 Sections, 14 chapters and 4 Schedules.
• The extends to whole of India.
3. WHAT IS LIMITED LIABILITY PARTNERSHIP (LLP)
The LLP act states, “LLP means a partnership formed and registered
under the act”. [Sec. 2(n)]
Thus, an LLP comes into existence after its registration/corporation
under LLP Act, 2008.
4. FEATURES OF A LIMITED LIABILITY PARTNERSHIP FIRM
1. Incorporated body – every LLP is an incorporated entity which is
formed and incorporated under the provisions of the LLP Act, 2008.
2. Body Corporate – A LLP is a body Corporate registered under LLP
Act, 2008.
3. Minimum and Maximum partners – An LLP shall have atleast
two partners. There is no limit on maximum number of partners.
4. Separate Legal Existence – An LLP has a separate legal existence
from its partners. It can enter into contract with its partners and sue
on partners and can be sued by partners.
5. Perpetual succession – A LLP is a legal entity with perpetual
succession. it can be wound up in accordance with the provisions of
the act.
5. 7. Partners by Agreement – The partners of a LLP are those who
become partners of the LLP in accordance with the LLP agreement.
However, the persons named in the incorporation document and who
subscribe to the incorporation document shall become partners of it.
8. Designated Partner – Every LLP shall have at least 2 designated
partners. This must be individual persons and at least one of them
shall be resident of India.
9. Limited Liability – The liability of a partner in LLP is limited to his
contribution to the LLP. A partner of LLP is not personally liable for
any obligation or liability of LLP.
10. Common seal – An LLP can have a common seal, if it decides to
have it.
11. Mutual Rights and duties of partners and LLP – the mutual
rights and duties of partners are governed by LLP agreement.
6.
7.
8. FDI IN LIMITED LIABILITY PARTNERSHIPS (LLPs)
Foreign direct investment (FDI) is an investment made by a company or
individual in one country in business interests in another country. It can
be in the form of directly establishing new business (greenfield
investment) or in the form of acquiring existing businesses (brownfield
investment).
Under the current FDI policy, foreign investment in Indian Companies
is permitted under:
• the automatic route; and
• the approval route (with prior approval of the Foreign Investment Promotion
Board (‘FIPB’), depending on the sector in which FDI is being inducted.
However, Any FDI in an LLP shall require prior Government/FIPB approval.
Any form of foreign investment in an LLP, direct or indirect (regardless of
nature of ‘ownership’ or ‘control’ of an Indian Company) shall require
Government/FIPB approval.
9. ELIGIBLE INVETORS
• A Person resident outside India
• An Entity incorporated outside India
PROHIBITED INVESTORS
• A citizen/entity of Pakistan and Bangladesh
• A SEBI registered Foreign Institutional Investor (FII)
• A SEBI registered Foreign Venture Capital Investor (FVCI)
• A SEBI registered Qualified Foreign Investor (QFI)
10. FDI in LLPs is permitted subject to the following conditions:
1. FDI is permitted in Limited Liability Partnership (LLPs) operating in
sectors/activities where 100% FDI is allowed, through the automatic route
and there are no FDI-linked performance conditions.
2. An Indian company or an LLP, having foreign investment, is also
permitted to make downstream investment in another company or LLP
in sectors in which 100% FDI is allowed under the automatic route and
there are no FDI-linked performance conditions.
3. FDI in LLP is subject to the compliance of the conditions of LLPAct,
2008.
4. A company having foreign investment can be converted into an LLP
under the automatic route only if it is engaged in a sector where foreign
investment up to 100% is permitted under automatic route and there are
no FDI linked performance conditions.
11. MODE OF PAYMENT FOR AN ELIGIBLE INVESTOR:
Payment by an eligible investor towards capital contribution/profit share
of LLPs will be allowed only by way of cash consideration to be
received –
1. by way of inward remittance through normal banking channels; or
2. by debit to NRE/FCNR account of the person concerned, maintained with
an AD Category – I bank.
• NRE account – Non-resident external account or Non-resident Rupee Account.
• FCNR account – Foreign Currency Non-resident Account.
• AD Category-1 Bank -Authorised Dealers category-1 Bank.
12. PRICING
1. FDI (Foreign direct investment) in an LLP (Limited liability partnerships) can
be either by way of capital contribution or by way of acquisition/transfer of
‘profit shares’, would have to be more than or equal to the fair price as worked
out with any valuation norm which is internationally accepted/ adopted as per
market practice
2. A valuation certificate to that effect shall be issued by a Chartered Accountant
or by a practicing Cost Accountant or by an approved valuer from the panel
maintained by the Central Government.
13. REPORTING
• Reporting of foreign investment in LLPs and disinvestment/transfer of capital
contribution or profit shares between a resident and a non-resident may be made in
a manner as prescribed by Reserve Bank of India from time to time.
• All LLPs which have received Foreign Direct Investment in the previous year(s)
including the current year shall submit to the Reserve Bank of India, on or before
the 15th day of July of each year, a report titled 'Annual Return on Foreign
Liabilities and Assets' as specified by the Reserve Bank from time to time.”
15. TAXATION OF LIMITED LIABILITY PARTNERSHIPS (LLP’s)
• LLPs will be treated as Partnership firms for the purpose of Income
Tax and will be taxed like a partnership firm.
• Tax rate 30% flat tax rate + 3% education cess
• No Minimum Alternate Tax & Dividend Distribution Tax
• Any form capital gains arising out of sale of assets by the LLP will be
taxable under sec. 112.
16. ELIGIBILITY (Section 184)
In order for Limited Liability Partnership to be assessed as firm as
Income Tax Act, it has to satisfy the following criteria
1. The LLP is evidenced by an instrument i.e. there is a written LLP
Agreement.
2. The individual shares of the partners are very clearly specified in the
agreement.
3. A certified copy of LLP Agreement must accompany the return of income of
the LLP of the previous year in which the partnership was formed.
4. If during a previous year, a change takes place in the constitution of the LLP
or in the profit sharing ratio of the partners, a certified copy of the revised
LLP Agreement shall be submitted along with the return of income of the
previous years in question.
5. There should not be any failure on the part of the LLP while attending to
notices given by the Income Tax Officer for completion of the assessment of
the LLP.
17. LLP can claim the following deductions
1. Interest paid to partners, provided such interest is authorised by the
LLP Agreement.
2. Remuneration (by whatever name called) to a partner will be
allowed as a deduction if it is paid to a working partner who is an
individual.
• The remuneration paid to such working partner must be authorised by the LLP
Agreement and the amount of remuneration must not exceed the given limits.
• When section 184 is not complied with, no deduction towards interest and
remuneration is allowed. This is the mandate of the section 185.
18. Steps for Computation of taxable income of a LLP
• Find out the firms income under the different heads of income, ignoring the
prescribed exemptions. The heads of income for partnership firms are:-
1. Income from House Property
2. Profits and Gains of Business or Profession
3. Capital Gains
4. Income from other sources including interest on securities, winnings from lotteries,
races, puzzles, etc. ('Salary' income head is not included)
• Make Deductions: The payment of remuneration and interest to partners is
deductible if conditions of section 184 and section 40(b) of the Income Tax
Act are satisfied. Any remuneration which is due to or received by partners
is allowed as a deduction from income of the partnership firm and the same
is taxable in the hands of partners. Any payment of remuneration in excess
of the limits prescribed will not be allowed to deducted out of the total
taxable income.
• Make adjustments on account of brought forward losses/ disallowances of
interests etc. paid by firm to its partners. The total income so obtained is the
“Total Taxable Income”.
19. IMPORTANT POINTS:
• Payment of remuneration in excess of the limits prescribed will not be allowed to
deducted out of the total taxable income.
• Partners are allowed to claim only 12% P.A. Of simple interest on the invested capital. If
the interest is higher than12% P.A. than income tax will be charged.
• Sleeping partners are not entitled to remuneration.
• Remuneration is calculated on the book profit which is calculated under sec 28 to 44D.
• The profit received by partner cannot be taxed, since the firm has already been taxed. The
interest and remuneration is taxable when partners file their individual return.
• Designated Partners will be liable to sign and file the Income Tax return.
• Remuneration and Interest on Capital paid to partners will be taxable in partner‘s hands as
―Income from Business and Profession‖ to the extent these have been allowed as
deduction in LLP‘s hands.
• Remuneration to working partners allowed as deduction subject to compliance with the
provisions of section 40 (b) and section Interest on capital can be paid to the partners of
the LLP. It shall be allowable as a deductible expense n 184.
• No taxable capital gain on conversion of general partnership firm into LLP.
• Conversion of private companies /unlisted public companies into LLP‘s are not expressly
exempted from capital gains taxation by the Act.