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The Ministry of Corporate Affairs (MCA) has introduced a scheme namely “LLP Settlement Scheme, 2020” for LLPs by allowing a one-time condonation of delay in filing forms with the Registrar of Office (ROC). The LLP denotes?
- a)Large Limited Partnership
- b)Limited Liability Partnership
- c)Limited Laundering Partnership
- d)Listed Liability Partnership
- e)Limited Liability Property
Correct answer is option 'B'. Can you explain this answer?
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The Ministry of Corporate Affairs (MCA) has introduced a scheme namely...
The Ministry of Corporate Affairs (MCA) has introduced a scheme namely “LLP Settlement Scheme, 2020” for limited liability partnership (LLPs) by allowing a one-time condonation of delay in filing statutorily required documents with the Registrar of Office (ROC). In simplified language, it means the scheme is providing a three-month window from 16th March, 2020 to 13th June, 2020 to LLPs for completing overdue or delayed filings of four forms which were due for filing till 31st October, 2019. Also, the additional fee on these forms is reduced to Rs. 10 from Rs. 100 per day of delay with upper cap of Rs. 5,000 per form.
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The Ministry of Corporate Affairs (MCA) has introduced a scheme namely...
Answer:B
Ministry of Corporate affairs vide its General Circular No. 6/2020 dated 04th March,2020 notified ‘LLP settlement Scheme, 2020‘ in continuation with the same MCA has Modified the said Scheme vide its General Circular No. 13/2020, dated 30th March, 2020, to enable Limited Liability Partnerships registered in India to focus on taking necessary measures to address the threat of COVID-19 Threat .
Ministry of Corporate affairs vide its General Circular No. 6/2020 dated 04th March,2020 notified ‘LLP settlement Scheme, 2020‘ in continuation with the same MCA has Modified the said Scheme vide its General Circular No. 13/2020, dated 30th March, 2020, to enable Limited Liability Partnerships registered in India to focus on taking necessary measures to address the threat of COVID-19 Threat .
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The Ministry of Corporate Affairs (MCA) has introduced a scheme namely...
LLP Settlement Scheme, 2020
The Ministry of Corporate Affairs (MCA) introduced the LLP Settlement Scheme, 2020 to provide a one-time condonation of delay in filing forms with the Registrar of Office (ROC). This scheme specifically benefits Limited Liability Partnerships (LLPs).
LLP
- LLP stands for Limited Liability Partnership.
- It is a type of partnership in which all the partners have limited liabilities.
- LLPs combine the advantages of both a company and a partnership.
LLP Settlement Scheme, 2020
- The scheme allows LLPs to file pending documents with the ROC without incurring heavy penalties for delays.
- It provides an opportunity for LLPs to rectify any compliance-related issues and bring their filings up to date.
- LLPs can take advantage of this scheme to avoid the accumulation of penalties and maintain good standing with regulatory authorities.
Benefits of LLP Settlement Scheme, 2020
- One-time condonation of delay in filing forms with the ROC.
- Opportunity to regularize compliance and avoid heavy penalties.
- Helps LLPs maintain good standing and avoid legal complications in the future.
In conclusion, the LLP Settlement Scheme, 2020 is a beneficial initiative by the MCA for LLPs to rectify past non-compliances and bring their filings up to date. It provides a one-time opportunity to condone delays in filing forms with the ROC, helping LLPs maintain good standing and avoid penalties.
The Ministry of Corporate Affairs (MCA) introduced the LLP Settlement Scheme, 2020 to provide a one-time condonation of delay in filing forms with the Registrar of Office (ROC). This scheme specifically benefits Limited Liability Partnerships (LLPs).
LLP
- LLP stands for Limited Liability Partnership.
- It is a type of partnership in which all the partners have limited liabilities.
- LLPs combine the advantages of both a company and a partnership.
LLP Settlement Scheme, 2020
- The scheme allows LLPs to file pending documents with the ROC without incurring heavy penalties for delays.
- It provides an opportunity for LLPs to rectify any compliance-related issues and bring their filings up to date.
- LLPs can take advantage of this scheme to avoid the accumulation of penalties and maintain good standing with regulatory authorities.
Benefits of LLP Settlement Scheme, 2020
- One-time condonation of delay in filing forms with the ROC.
- Opportunity to regularize compliance and avoid heavy penalties.
- Helps LLPs maintain good standing and avoid legal complications in the future.
In conclusion, the LLP Settlement Scheme, 2020 is a beneficial initiative by the MCA for LLPs to rectify past non-compliances and bring their filings up to date. It provides a one-time opportunity to condone delays in filing forms with the ROC, helping LLPs maintain good standing and avoid penalties.
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The Ministry of Corporate Affairs (MCA) has introduced a scheme namely “LLP Settlement Scheme, 2020” for LLPs by allowing a one-time condonation of delay in filing forms with the Registrar of Office (ROC). The LLP denotes?a)Large Limited Partnershipb)Limited Liability Partnershipc)Limited Laundering Partnershipd)Listed Liability Partnershipe)Limited Liability PropertyCorrect answer is option 'B'. Can you explain this answer?
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The Ministry of Corporate Affairs (MCA) has introduced a scheme namely “LLP Settlement Scheme, 2020” for LLPs by allowing a one-time condonation of delay in filing forms with the Registrar of Office (ROC). The LLP denotes?a)Large Limited Partnershipb)Limited Liability Partnershipc)Limited Laundering Partnershipd)Listed Liability Partnershipe)Limited Liability PropertyCorrect answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about The Ministry of Corporate Affairs (MCA) has introduced a scheme namely “LLP Settlement Scheme, 2020” for LLPs by allowing a one-time condonation of delay in filing forms with the Registrar of Office (ROC). The LLP denotes?a)Large Limited Partnershipb)Limited Liability Partnershipc)Limited Laundering Partnershipd)Listed Liability Partnershipe)Limited Liability PropertyCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The Ministry of Corporate Affairs (MCA) has introduced a scheme namely “LLP Settlement Scheme, 2020” for LLPs by allowing a one-time condonation of delay in filing forms with the Registrar of Office (ROC). The LLP denotes?a)Large Limited Partnershipb)Limited Liability Partnershipc)Limited Laundering Partnershipd)Listed Liability Partnershipe)Limited Liability PropertyCorrect answer is option 'B'. Can you explain this answer?.
The Ministry of Corporate Affairs (MCA) has introduced a scheme namely “LLP Settlement Scheme, 2020” for LLPs by allowing a one-time condonation of delay in filing forms with the Registrar of Office (ROC). The LLP denotes?a)Large Limited Partnershipb)Limited Liability Partnershipc)Limited Laundering Partnershipd)Listed Liability Partnershipe)Limited Liability PropertyCorrect answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about The Ministry of Corporate Affairs (MCA) has introduced a scheme namely “LLP Settlement Scheme, 2020” for LLPs by allowing a one-time condonation of delay in filing forms with the Registrar of Office (ROC). The LLP denotes?a)Large Limited Partnershipb)Limited Liability Partnershipc)Limited Laundering Partnershipd)Listed Liability Partnershipe)Limited Liability PropertyCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The Ministry of Corporate Affairs (MCA) has introduced a scheme namely “LLP Settlement Scheme, 2020” for LLPs by allowing a one-time condonation of delay in filing forms with the Registrar of Office (ROC). The LLP denotes?a)Large Limited Partnershipb)Limited Liability Partnershipc)Limited Laundering Partnershipd)Listed Liability Partnershipe)Limited Liability PropertyCorrect answer is option 'B'. Can you explain this answer?.
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