Latest news with #LimitedLiabilityPartnerships
Mint
5 days ago
- Business
- Mint
Income Tax Filing: ITR-5 excel form now live – Who should opt for it? Details here
The income tax (I-T) department has now enabled ITR-5 for filing returns online, for firms, Limited Liability Partnerships (LLP), Associations of Persons (AOP), and Bodies of Individuals (BOI). In a post on the social media platform X, the income tax department noted, 'Kind Attention Taxpayers! Excel Utility of ITR-5 is live now and is available for filing.'
Barnama
31-07-2025
- Business
- Barnama
SSM North Zone InfoSession Enhances Governance, Compliance Literacy
GENERAL BUTTERWORTH, July 31 (Bernama) -- The Companies Commission of Malaysia (SSM) organised the 2025 SSM North Zone InfoSession Programme today to strengthen governance, enhance compliance literacy and support the development of a more transparent and sustainable business ecosystem. It said that the programme, attended by over 200 participants from various government agencies, local authorities, the corporate sector and individuals involved in business data management and regulation compliance, was also used as a platform to introduce SSM's three latest products. 'They are the Electronic Beneficial Ownership System (e-BOS) - a system for updating beneficial ownership information as required under the Companies Act 2016 and the Limited Liability Partnerships (LLP) Act 2012 - as well as e-Advertisement, which is the official platform for advertising statutory information for companies and LLPs, including notices of appointment, dismissal, changes in information or company closure. 'These services enhance transparency, speed up processes and reduce costs. The third product is the Company Secretary Information Data (CSID) - a comprehensive search tool for information on the credentials, Practising Certificate and professional status of registered company secretaries,' it said in a statement today. The SSM said that in addition to a briefing session related to the provision of corporate information and interest schemes, participants were also introduced to various SSM digital services, such as MyData-SSM, SSM Search, SafeData SSM and SSM e-info, which are aimed at helping users access valid and up-to-date business data. It also said that based on SSM statistics up to June 30, a total of 1,619,700 companies have been incorporated, 9,520,598 businesses and 43,301 LLPs have been registered nationwide, and from the total, 693,619 companies, 1,692,266 businesses and 38,567 LLPs are active. 'As for Penang, 105,225 companies have been incorporated and 686,739 businesses and 2,621 LLPs have been registered with SSM for the same period. Of the total, 48,151 companies, 123,493 businesses and 2,277 LLPs are active,' it said. Meanwhile, SSM chief executive officer Datuk Nor Azimah Abdul Aziz said at the closing ceremony that corporate information provided by SSM is not merely data, but a strategic asset that forms the basis for important decisions by investors, business owners, financial institutions and the public. 'Programmes like the SSM InfoSession are crucial for showing that the provision and use of corporate information is no longer a choice, but a necessity. It is the backbone of transparency, market confidence and the integrity of the country's economy,' she said in the same statement.
Economic Times
26-06-2025
- Business
- Economic Times
Over 18.9 lakh cos were active in India at May-end, shows official data
Official data reveals that over 1.89 million companies, representing 65% of registered firms, were active in India as of May 2025. Business services led with 26%, followed by manufacturing at 19%. Maharashtra had the highest number of active companies at 19%, while new registrations were also highest in Maharashtra, followed by Uttar Pradesh and Delhi. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Economy 1. Icra retains FY26 GDP forecast at 6.2% New Delhi: More than 18.9 lakh companies or 65 per cent of the total number of registered companies were active in India at the end of May, according to official the active companies, the highest were in the business service segment at 26 per cent, followed by manufacturing (19 per cent), trading and community, personal and Social Services (13 per cent each).In its information bulletin for the month of May, the corporate affairs ministry said Maharashtra had the maximum number of active companies at 19 per cent. It was followed by Delhi (14 per cent) and Uttar Pradesh and West Bengal (8 per cent) each."A total number of 28,96,943 companies were registered in the country as on May 31, 2025, of which 65 per cent (18,90,305) companies stand active. There is an increase of 0.20 per cent in the total proportion of active companies w.r.t registered companies when compared to April 2025," the ministry the end of May, 9,59,215 companies had closed down, 10,474 companies were under liquidation and 2,548 companies were many as 26,174 companies were in the process of being struck off from the official records.A total of 20,718 companies were registered with a collective paid-up capital of Rs 1,176.28 crore in May."Top three states that receive the highest number of new registrations duringMay 2025 were Maharashtra with 17 per cent which amounts to 3,458 corporates, Uttar Pradesh with 11 per cent coming in at 2,379 and Delhi following closely behind at 9 per cent belonging to 1,858 companies with a collective paid-up capital of Rs 306.90 crores for the three states," the ministry per the data, a total of 4,01,809 Limited Liability Partnerships (LLPs) were active at the end of May.
Time of India
26-06-2025
- Business
- Time of India
Over 18.9 lakh cos were active in India at May-end, shows official data
New Delhi: More than 18.9 lakh companies or 65 per cent of the total number of registered companies were active in India at the end of May, according to official data. Among the active companies, the highest were in the business service segment at 26 per cent, followed by manufacturing (19 per cent), trading and community, personal and Social Services (13 per cent each). In its information bulletin for the month of May, the corporate affairs ministry said Maharashtra had the maximum number of active companies at 19 per cent. It was followed by Delhi (14 per cent) and Uttar Pradesh and West Bengal (8 per cent) each. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Belly Fat Removal Without Surgery in Indonesia: The Price Might Surprise You Belly Fat Removal | Search Ads Undo "A total number of 28,96,943 companies were registered in the country as on May 31, 2025, of which 65 per cent (18,90,305) companies stand active. There is an increase of 0.20 per cent in the total proportion of active companies w.r.t registered companies when compared to April 2025," the ministry said. At the end of May, 9,59,215 companies had closed down, 10,474 companies were under liquidation and 2,548 companies were dormant. Live Events As many as 26,174 companies were in the process of being struck off from the official records. A total of 20,718 companies were registered with a collective paid-up capital of Rs 1,176.28 crore in May. "Top three states that receive the highest number of new registrations duringMay 2025 were Maharashtra with 17 per cent which amounts to 3,458 corporates, Uttar Pradesh with 11 per cent coming in at 2,379 and Delhi following closely behind at 9 per cent belonging to 1,858 companies with a collective paid-up capital of Rs 306.90 crores for the three states," the ministry said. As per the data, a total of 4,01,809 Limited Liability Partnerships (LLPs) were active at the end of May.
The Print
13-05-2025
- Business
- The Print
Tax dept notifies all 7 ITR forms for assessment year 2025-26
One important change has been introduced in ITR-1 and 4, which was notified on April 29, relating to the reporting of capital gain income from listed equities. While ITR forms 1 and 4, which are filed by small and medium taxpayers, were notified on April 29; ITR-7, filed by trusts and charitable institutions, was notified on May 11. New Delhi, May 12 (PTI) The income tax department has notified all seven income tax return forms for assessment year 2025-26. Now, salaried individuals and those under the presumptive taxation scheme, having long-term capital gains (LTCG) of up to Rs 1.25 lakh in a financial year, will be able to file ITR-1 and ITR-4, respectively. Earlier, such persons/entities were required to file ITR-2. Under the I-T law, LTCG of up to Rs 1.25 lakh from sale of listed shares and mutual funds is exempt from tax. Gains exceeding Rs 1.25 lakh/ annum are subject to 12.5 per cent tax. The last date for filing ITR for individuals and those who do not have to get their accounts audited is July 31. One change which has been introduced in ITR forms 2, 3, 5, 6 and 7 pertains to rationalisation of capital gains tax. In Schedule Capital Gains of the ITR, capital gains must now be split based on whether they arose before or after July 23, 2024. In the Budget presented on July 24, 2024, the government had proposed to lower long-term capital gains tax on real estate to 12.5 per cent without indexation benefit, from 20 per cent with indexation. Indexation benefit allows taxpayers to arrive at the cost price of the property after adjusting for inflation. With this, individuals or HUFs who purchased houses before July 23, 2024, can opt to pay Long Term Capital Gain (LTCG) tax under the new scheme at the rate of 12.5 per cent without indexation or claim the indexation benefit and pay 20 per cent tax. Also, in ITR-3, which is filed by individuals and HUFs having income from profits and gains of business or profession, the threshold for reporting assets and liabilities under 'Schedule AL' has been raised from Rs 50 lakh to Rs 1 crore, thus reducing the disclosure burden on middle-income taxpayers. ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers. Sahaj can be filed by a resident individual having annual income of up to Rs 50 lakh and who receives income from salary, one house property, other sources (interest) and agricultural income up to Rs 5,000 a year. Sugam can be filed by individuals, Hindu Undivided Families (HUFs) and firms (other than Limited Liability Partnerships (LLPs)) having a total annual income of up to Rs 50 lakh and income from business and profession. ITR-2 is filed by individuals and HUFs not having income from profits and gains in business or profession, but having income from capital gains. ITR-5 is filed by firms and Limited Liability Partnership and Cooperative Societies. ITR-6 is filed by companies registered under the Companies Act. ITR-7 is filed by trusts and charitable institutions. PTI JD SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
