Tax Implication for dead LLP (non earning income)

[harshit pandey]

Dear All,

I formed a LLP (Limited Liability Partnership Co.) in March 2014. But it is not functional since its establishment.

Now, I am thinking of reviving it to start operations on its name.

Query: 1) Process to revive a non-functional LLP

2) Do LLP has to file income tax return for past fiscal years where no income was earned

3) I want to change partner name in LLP (Is it possible to change partners after its formation)

Please give some guidance on the above issue.

Thanks all

Harry

[DR.MARIAPPAN GOVINDARAJAN]

You can filed income tax return for the past fiscal years.

Section 19 of LLP Act provides that any limited liability partnership may change its name registered with the Registrar by filing with him a notice of such change in such form and manner and on payment of such fees as may be prescribed.

Unless the LLP is wound up the same may be revived.

AI Summary

Dormant LLP tax filing obligations require past-year returns; statutory name-change and revival available under prescribed procedure. An LLP that has remained non functional may still file income tax returns for past fiscal years with no income. Section 19 of the LLP Act permits change of the registered name by filing a notice with the Registrar in the prescribed form and manner and on payment of prescribed fees. Unless the LLP has been wound up, it may be revived to resume operations.