Latest news with #LLPs
Economic Times
5 days ago
- Business
- Economic Times
Co, LLP incorporations surge in May on investor optimism
New Delhi: Company incorporations jumped 29% in May from a year before and those of limited liability partnerships (LLPs) surged 37%, as strong economic growth and consumption outlook over the medium-to-long term continued to encourage investors to set up units. As many as 20,720 companies, including overseas entities, got incorporated in May, against 16,081 a year earlier, showed the latest corporate affairs ministry data. With this, company registrations rose for a fifth straight month through the number of LLPs that got incorporated in May stood at 7,487, compared with 5,464 a year rates of increase in company and LLP incorporations in May were partly aided by a favourable base effect. "The country's growth prospects continue to remain strong, and so do its macroeconomic fundamentals. Consumer sentiments have improved. These give investors the confidence to take advantage of the country's growth story," a senior government official had told ET late May.A sustained push for ease of doing business and lower compliance burden for companies have helped, the official had said. The strong run of incorporations in recent months comes despite a continued crackdown on shell spike in LLP registrations in recent years has been supported by robust services trade, according to experts. Services exports grew 13.6% last fiscal to touch a record $387.5 billion, even though merchandise despatches remained flat at $437 billion amid external will remain the world's fastest-growing major economy over the next two years, according to the International Monetary Fund (IMF), which expects the country's rates of expansion to touch 6.2% in 2025 and 6.3% in Indian finance ministry expects a growth rate of 6.3-6.8% in FY26, as projected in the latest Economic Survey. The growth would be driven significantly by strong private consumption and resilient services exports, chief economic advisor V Anantha Nageswaran said last rate of expansion would enable India to beat Japan to emerge as the world's fourth-largest economy in FY26, as per the IMF's GDP forecast, Nageswaran said. The number of companies incorporated in 2024-25 dropped 2.2% on-year to 181,135, after record incorporation the previous year. But a record 68,669 LLPs got registered last fiscal, up 16.4% from a year before.
Time of India
6 days ago
- Business
- Time of India
Co, LLP incorporations surge in May on investor optimism
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: Company incorporations jumped 29% in May from a year before and those of limited liability partnerships (LLPs) surged 37%, as strong economic growth and consumption outlook over the medium-to-long term continued to encourage investors to set up many as 20,720 companies, including overseas entities, got incorporated in May, against 16,081 a year earlier, showed the latest corporate affairs ministry data With this, company registrations rose for a fifth straight month through the number of LLPs that got incorporated in May stood at 7,487, compared with 5,464 a year rates of increase in company and LLP incorporations in May were partly aided by a favourable base effect."The country's growth prospects continue to remain strong, and so do its macroeconomic fundamentals. Consumer sentiments have improved. These give investors the confidence to take advantage of the country's growth story," a senior government official had told ET late May.A sustained push for ease of doing business and lower compliance burden for companies have helped, the official had said. The strong run of incorporations in recent months comes despite a continued crackdown on shell spike in LLP registrations in recent years has been supported by robust services trade, according to experts. Services exports grew 13.6% last fiscal to touch a record $387.5 billion, even though merchandise despatches remained flat at $437 billion amid external will remain the world's fastest-growing major economy over the next two years, according to the International Monetary Fund (IMF), which expects the country's rates of expansion to touch 6.2% in 2025 and 6.3% in Indian finance ministry expects a growth rate of 6.3-6.8% in FY26, as projected in the latest Economic Survey. The growth would be driven significantly by strong private consumption and resilient services exports, chief economic advisor V Anantha Nageswaran said last rate of expansion would enable India to beat Japan to emerge as the world's fourth-largest economy in FY26, as per the IMF's GDP forecast, Nageswaran said. The number of companies incorporated in 2024-25 dropped 2.2% on-year to 181,135, after record incorporation the previous year. But a record 68,669 LLPs got registered last fiscal, up 16.4% from a year before.
The Hindu
11-05-2025
- Politics
- The Hindu
Former Vijayawada MP Kesineni Srinivas seeks ED probe into MP Sivanath's alleged money laundering in Andhra Pradesh liquor scam
Former MP Kesineni Srinivas (Nani) wrote a letter to the Enforcement Directorate (ED) requesting a probe into the alleged role of his younger brother and Vijayawada MP Kesineni Sivanath(Chinni) and his associates in money laundering linked to the Andhra Pradesh liquor scam. He stated that it was alarming on Mr. Sivanath's part to seek a CBI probe into the liquor scam as it reflected his lack of confidence in the Special Investigation Team (SIT) constituted by the State government. The position taken by Mr. Sivanath raises serious questions and warrants a deeper scrutiny as he was himself facing the allegation of having a role in financial transactions connected to the liquor scam through his business partner Kasireddy Rajasekhar, the former MP observed. Mr. Srinivas said according to official records and data available in the public domain, Mr. Sivanath and his wife Janaki Lakshmi and Mr. Rajasekhar were partners in Pryde Infracon LLP among other ventures. These entities might have been used to channel the proceeds of the crime, in violation of the Prevention of Money Laundering Act (PMLA), 2002. Further, there was a strong reason to believe that the money trail extended across multiple companies and Limited Liability Partnerships (LLPs) both within India and abroad, involving family members, close friends, and some long-time business partners. In view of this, the ED should initiate an exhaustive investigation into the business dealings of the MP's wife Janaki Lakshmi, son Venkat Chowdary Kesineni, Srinivas Satya Prasad Vellanki (Pandu), Madhu Babu Kandimalla, P.T. Suresh, Venigalla Ram, Chakravarthy Kadiyala, Vamsi Kadiyala, Kumar Adusumalli, Rajesh Ponnam, Mohan Rao Bollineni, Venkatakrishna Kishore Talluri and Nageswara Rao Gali. The probe should include all Indian and overseas companies, LLPs, and trusts associated with them, real estate, infrastructure and technology companies with possible links to them, all shell entities, benami holdings or circular transaction patterns related to them, and cross - border fund transfers, foreign assets and undisclosed overseas investments. Some of them are also allegedly linked to the ₹2,000 crore chain-link scam of Hyderabad which is under investigation, Mr. Srinivas added.
India Today
05-05-2025
- Business
- India Today
ITR filing 2025: Forms 1 to 5 notified, which one should you use?
The Income Tax Department has started rolling out income tax return (ITR) forms for the financial year 2024–25. Forms ITR-1, 2, 3, 4 and 5 have already been notified. If you're wondering which form applies to you, here's a simple guide that can help you file your return smoothly this or Sahaj, is for resident individuals whose total income is not more than Rs 50 lakh. If your income is from a salary or pension, one house property, bank deposit interest, or small agricultural income (not more than Rs 5,000), then this form is suitable for if you're a director in a company, have invested in unlisted shares, earn from business or profession, or have foreign assets or capital gains, then you cannot use ITR-2 is for people who do not qualify for ITR-1. It applies to individuals and Hindu Undivided Families (HUFs) who don't have business can also be used by those who earn capital gains or have foreign assets, or where the income of a spouse or minor child is added to theirs under certain is for those who operate a business or profession. If you are a doctor, lawyer, chartered accountant, or operate any other business where your income is computed from actual profits, and you have detailed books of accounts, this is the return you must also known as Sugam, is for small business owners, professionals, or firms (excluding LLPs) with a total income of up to Rs 50 lakh. If your income is calculated on a presumptive basis under tax rules like 44AD, 44ADA, or 44AE, this is the correct form for is for entities like firms, Limited Liability Partnerships (LLPs), Associations of Persons (AOPs), Bodies of Individuals (BOIs), and other such bodies. Individuals cannot file this the right form is important to ensure your return is accepted without any hassle. So before you get started, make sure you choose the form that matches your income type and Reel
