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The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India. Unlike the general partnerships in India, LLP is a body corporate and legal entity separate from its partners, have Perpetual succession and any change in the partners of an LLP shall not affect the existence, rights or liabilities of the LLP.
Ind As No. Name of Indian Accounting Standard Ind AS 101 First time adoption of Ind AS Ind AS 102 Share Based Payment Ind AS 103 Business Combination Ind AS 104: Insurance Contracts Ind AS 105 Non-Current Assets Held for Sales and Discontinued Operations Ind AS 106 Exploration for and Evaluation of Mineral Resources Ind AS 107
Minimum Alternative Tax has been introduced for Limited Liability Partnership (LLP) in line with MAT on companies with effect from the Assessment Year 2012–2013. The Government exempts assesses having no other income other than salary from furnishing the return of income by notification. The proposed amendment shall be effective from 1 June 2011.
Sole Proprietorship – Sole Proprietorship firm is the simplest form of business entity in India. It is owned and managed by a single person. It is usually considered to be the easiest way of registering and starting a business. It is not governed by any law and hence it is the easiest form of business in India.
Taxes on unrelated activities: Income from activities unrelated to the organization’s mission must be reported on a business income tax return. If the unrelated income totals $1,000 or more, you ...
Airports Economic Regulatory Authority Of India Act: 2008: 27 Unorganized Workers Social Security Act: 2008: 33 National Investigation Agency Act: 2008: 34 Gram Nyayalayas Act: 2009: 4 Limited Liability Partnership Act: 2009: 6 Collection of Statistics Act: 2009: 7 South Asian University Act: 2009: 8 National Jute Board Act: 2009: 12