Instant PAN and TAN with Certification of Incorporation: MCA notifies LLP Second Amendment Rules 2022 [Read Notification]

The Ministry of Corporate Affairs (MCA) vide its Notification dated 04th March, 2022 has notified Limited Liability Partnership (Second Amendment) Rules, 2022 to amend the existing Limited Liability Partnership Rules, 2009, which shall come into force on the date of its publication in the Official Gazette.

According to the Amendment, the application for allotment of Designated Partner Identification Number ( DPIN ) shall not be made by more than five individuals instead of two in Form FiLLiP.

In Second Amendment, “and shall mention Permanent Account Number and Tax Deduction Account Number issued by the Income Tax Department” which means that the Certificate of Incorporation of LLP shall be issued by the Registrar in Form 16 and should mention PAN and TAN issued by the Income Tax Department.

According to this amendment, PAN and TAN will be provided along with a Certificate of Incorporation.

The New Rule also amended the provision which dealt with Statement of Account and Solvency shall be signed on behalf of the LLP by its designated partners. Where the Corporate Insolvency Resolution Process has been initiated against the LLP under the Insolvency and Bankruptcy Code, 2016 or the Limited Liability Partnership Act, 2008 the said Statement of Account and Solvency may be signed by interim resolution professional or resolution professional, or liquidator or limited liability partnership administrator.

It also said that, where the Corporate Insolvency Resolution Process has been initiated against the limited liability partnership under the Insolvency and Bankruptcy Code, 2016 or the Limited Liability Partnership Act, 2008 having turnover up to five crore rupees during the corresponding financial year or contribution up to fifty lakh rupees has come under liquidation under the said Code, 2016 or the said Act, 2008, the said annual return may be signed on behalf of the limited liability partnership by interim resolution professional or resolution professional, or liquidator or limited liability partnership administrator and no certification by a designated partner shall be required.

The New Amended Rules also merged Form 29 with Form 28, also News Rules viz., Form 32, and Form 24. It also brings changes into RUN LLP, FiLLiP, Form 3, Form 4, Form 5, Form 8, Form 9, Form 11, Form 12, Form 15, Form 16, Form 17, Form 18, Form 22, Form 23, Form 24, Form 25, Form 27, Form 28, Form 31 and Form 32.

To Read the full text of the Notification CLICK HERE

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