Business Tips

Amnesty scheme for late Submissions by LLPs is all set to launch soon

257 total views, 3 views today

Posted on April 24, 2021

The government is all set to launch an amnesty scheme for the absolution for the delay in filings by limited liability companies (LLP), to a certain extent that could benefit from about 20-25% of these.

LLP is a corporate business firm in which the flexibility of a company and the advantages of limited liability of a company are at a low level. Presently, in India, about 1.5 lakh are there, with about 1.3 lakh of active companies.

”Sources told that the scheme will allow those who have failed to file forms 3 and 4 and also forms 8 and 11 can file the returns along with an additional fee of about Rs 10 a day and with an overall cap of Rs 5,000. Currently, the penalty for delay in filing any of these forms is Rs 100 for each day.”

Form 3 deals with the initial agreement, whereas forms 8 and 11 refer to the financial statement. “There are many who have not been able to submit form 3 for 10 years, for them the penalty may be Rs 3.5 lakh or more. Now, they can erase the breach simply by paying a fee of Rs 5,000, “a source added, appending that MCA will give notice about the scheme in a day or two.

The main aim of this move is to alleviate the lives of companies and also to help them to cure the problems which they may have to handle due to the non-submission of statements.

But getting to this point has been a perplexing matter as the LLP Act of 2008 does not furnish for such a mechanism. As a result, the Ministry of Corporate Affairs first used the provisions of the Companies Law to extend the scheme to LLPs, with a special provision of the LLP Law.

You may also like to read:

Related Items:Amnesty scheme for late Submissions by LLPs

Click to comment

Kanakkupillai.com

Based on 446 Google reviews.

Ramkee Pothula

2021-06-15

Very Impressed with the kind of service they provided. Prompt response whenever required and very helpful staff. Completes the work before the time committed. Thanks much for your quality service.

Prakash V

2021-06-11

We planned to start a food business and we didn't have any idea about it. I don't know who to contact for the documents and where to register etc, then we came to know about Kanakkupillai. We checked the Google reviews and feedback and decided to contact Kanakkupillai. I gave a call and first day we had a meeting with Ragavan, he was such a wonderful person and who helped in many things. He explained the procedure very clearly and in details. Finally we had an idea how this thing works. Later we just provided the documents which they asked for to register for Food License, GST, MSME, Partnership deed, Trademark and PAN. The work was so fast and on time. If we forget also, the team will followup on it and complete the work. That was really a very professional and great customer service. I would really thank Meera, Sathish, Sangeetha, Kalaivani, Sandhiya and Kalaimathi worked for us. Kanakkupillai, you are doing great. Keep it up. Thank you so much for your support..

Sandhya Sandy

2021-06-10

Thankyou Kanakkupillai team you ppl have helped me on correct time.Special thanks to Mr.Sathish & Ms.Ramya who helped me a lot on that critical situation without making me panic.This is a best consultancy in Chennai.

priya kumar

2021-06-08

Your company is successful because of its focus on its customer services. Well done!

sathyamoorthy v s

I appreciate the work with respect to my trade mark registration request. I especially thank Ms.Meera and Ms.Sandhiya for their attitude and prompt communication.

Sathivel Arumugam

Hi this is Sathivel Arumugam, Director of JK Edvance Academy & Solutions, I have approached Kanakkupillai.com for my company registration they have explained the process very well and they have taken the responsibility and for the surprise they have completed the entire process within 4 working days. Especially liaise on persons Ms Meera & Ms Kalaimathi were helped me at their best & made my work successfully completed, my special thanks to them. Wishes to the entire team.

Krishnaparamathma T

2021-06-04

Excellent support and proper guidance's given by Miss.Deepika thanks a lot for your quick response and dedicated quality service

Priya Itsolutions

Kanakkupillai Team Congratulations, Your growing heights,I have reffered two companies one for incorperation and another for Gst and Msme,Ms.Ramya who handeld both the process in the same way cleared all of my doubts answered very camly and politely.Ramya- this girl has a great future.Thank you so much for helping me.

P Manoj

Perfect service company for all your business hurdles

Kanakkupillai Learning Center

Amnesty scheme for late Submissions by LLPs is all set to launch soon

Leave a Reply

Facebook

GET FREE CONSULTATION

Kanakkupillai Learning Center

Related Articles

How do I cancel MSME…

Do Registration is important to…

Start a Jewellery Business in…

Setting up an E-commerce business…

How to Start A Construction…

How to start / register…

How to Start Cars24 Franchise…

The legal compliances required to…

Companies Fresh Start Scheme 2021…

How do I start a…

Leave a Reply

Facebook

GET FREE CONSULTATION