IMA LLP Group Business Modules Delivering You Tax Paid Income
An IMA LLP is constituted of “Designated Partners” and “Partners”, wherein the former has complete responsibility of day to day affairs of the company and it’s business conducted, and the contribution of Partners towards the LLP is limited only to the extent of their Capital Contribution. Partners are subject to the agreed upon Terms and Conditions as constituted between the Designated Partners and Partners in the IMA LLP and as per LLP Act 2008.
IMA LLP Group concentrates on physical Bullion trading which means procuring Gold, Silver and other precious metals in the tangent (Brick or Biscuit) form and sells it in the form of jewels and other forms to meet retail jewellery market requirements. IMA LLP Group has delivered fruitful returns with a commendable track record till date. The partners agree to enjoy both profit generated and share loss if any. Details of trade is shared with active partners on regular intervals that can also be tracked online.
CAPITAL CONTRIBUTION: Partners must contribute by way of Cheque or other mode of payments as his/her own Capital Contribution. There is no limit on the amount of Capital being contributed by a Partner and maybe paid as a lump sum or also as an add-on during the course of business conducted for the LLP’s financial year.
RETURNS ON INVESTMENT: Partners are subject to both profit and loss in the IMA LLP. Profit/return generated is subject to market risks and volatility and no assured return is promised. In addition to enjoying returns/profits, partners are equally responsible to bear any losses that may arise in the due course of operations.
TAXATION ON RETURNS GENERATED: For every financial year of operations, any profit generated on account of business operations of the LLP is subject to deductions payable to the Government of India by way of Tax liable on the LLP. Income paid out to partners after each financial year ends i.e. on March 31st, is treated as tax paid income.
As the foundation stone and a tool to be the pioneer in Bullion Trade in India which has brought success and rewards for IMA Group and opened up a world of possibilities for it’s partners, partners investment in our LLP is safe and secure and till date thousands of successful partnerships have blossomed with the underlying principles of faith and trust in our LLP.
What constitutes an LLP- Limited Liability Partnership in India?
The Limited Liability Partnership Act 2008 was published in the official Gazette of India on 9 January 2009 and has been notified with effect from 31 March 2009.
An LLP is different from that of a “Limited Partnership”. It operates like a limited partnership, but in an LLP each member is protected from personal liability, except to the extent of their capital contribution in the LLP. An LLP is a Separate legal entity like any other company or firm, wherein it’s partners and the LLP they constitute remain distinct from each other. To start a Limited Liability Partnership in India, at least two designated partners are required initially, however there is no limit on the maximum number of partners. An LLP is exempt from Dividend Distribution Tax (DDT). All details about LLP firms can be checked on the portal of Ministry of Corporate Affairs (MCA). The Registrar of Companies (ROC) shall register all LLPs.