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    Limited Liability Partnership (Second Amendment) Rules, 2022
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    Limited Liability Partnership rules amended: updated filing forms, PAN/TAN disclosure, and insolvency signing provisions for LLPs.
    The 2022 amendment revises LLP Rules to require PAN and TAN on Form 16, to attach incorporation or registration certificates with applications, to permit insolvency office holders (IRP/RP/liquidator/LLP administrator) to sign Statement of Account and Solvency and, for small LLPs under CIRP or liquidation, to sign annual returns without designated partner certification; it also substitutes and omits several form references including removal of Form 29.
    Seeks to bring in force provisions of sections 1 to 29 of the Limited Liability Partnership (Amendment) Act, 2021
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    Commencement of Limited Liability Partnership Amendment provisions: core amendments appointed to commence on the notified commencement date.
    The Central Government, exercising the power conferred by the relevant sub section of the Limited Liability Partnership (Amendment) Act, issues a notification appointing a future date as the day on which the amendment provisions up to the specified terminal provision shall come into force, communicated by the Ministry of Corporate Affairs.
    Limited Liability Partnership (Amendment) Rules, 2022
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    Limited Liability Partnership amendments impose automatic name-change for noncompliant LLPs and establish adjudication and appeal procedures.
    A new rule 19A provides automatic allotment of a new LLP name beginning with "ORDNC" (order of Regional Director not complied) including year, serial number and LLPIN where an LLP fails to comply with a Regional Director's direction within three months, with specified exception for pending e forms; the renamed LLP must state "Order of Regional Director Not Complied (under section 17 of the LLP Act, 2008)" on invoices and correspondence and comply with section 21 unless it subsequently changes name under section 19. The rules also create an adjudication regime (rules 37A-37D) setting appointment, notice, electronic reply, hearing, powers, timelines, penalty payment and appeal procedures to the Regional Director.

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      Seeks to bring in force provisions of sections 1 to 29 of the Limited Liability Partnership (Amendment) Act, 2021 - S.O. 621 (E) - Limited Liability Partnership

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      Commencement of Limited Liability Partnership Amendment provisions: core amendments appointed to commence on the notified commencement date.
      The Central Government, exercising the power conferred by the relevant sub section of the Limited Liability Partnership (Amendment) Act, issues a ... Summary

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      ActsIncome Tax