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Limited Liability Partnership

Limited Liability Partnership registration starting from Rs.6,000/-

Limited Liability Partnership Registration

Limited Liability Partnership Registration is a hybrid of existing partnership firms and full-fledged companies. It is a separate legal entity, liable to the full extent of its assets with the liability of the partners being limited to their agreed contribution in the firm.

Limited Liability Partnership Registration (LLP) features:

  • Just require two entrepreneurs.
  • More credibility than partnership Firm.
  • Limited Liability is the main feature.
  • Partnership Firm’s Next Version in Simply Words.

 

Advantage of Limited Liability Partnership Registration
Limited Liability Partnership Registration
01
Limited Liability of Partners

Because an LLP can enter into a contractual relationship in its own capacity, it offers a great advantage to the partners for limiting their personal risk. Liability of financial contribution of any partner is restricted to the capital contribution as per the LLP agreement. Many new age businesses prefer LLP registration over partnership so that their personal assets remain safe in case of loss, or even insolvency. Further, one partner is not held responsible for the actions of negligence or misconduct of any other partner.

02
Operational Flexibility

LLP Agreement, deed among partners of an LLP, clarifies operating structure including rights and responsibilities of the partners. Typically, LLP would select a “Designated Member” who would control day-to-day operations. It can have individuals or existing businesses as members. Further, this structure allows to clearly define roles of the partners and their respective responsibilities. It could also help in protecting partner’s interest in case of loss because of an unlawful act of any other partner.

03
Separate Legal Existence

Registration of LLP creates a separate legal identity than its partners. Governed by the LLP Act of 2008, it allows the business to contract with other entities, take legal action, own assets and borrow funds in the name of an LLP itself. It is a major advantage that is not available to a regular partnership firm.

04
Lower Compliance Requirement

A key benefit of registering an LLP over a private company is lesser compliance requirement. It doesn’t have a mandatory audit requirement until a certain level of turnover or contribution. Unlike companies, compliances related to board meetings, statutory meetings, etc. do not apply to LLPs. Professional services for compliance are typically available at cheaper rates than that for companies, making it cost effective to maintain an LLP.

Basic Features to Read before starting Limited Liability Partnership
Partners of Limited Liability Partnership registration

Limited liability partnership registration has a minimum two partners. In LLP there is no maximum limit of a number of partners, if one partner wants to leave the partnership, then LLP firm is dissolved.

Partners of Limited Liability Partnership registration

Limited liability partnership registration has a minimum two partners. In LLP there is no maximum limit of a number of partners, if one partner wants to leave the partnership, then LLP firm is dissolved.

Annual filling of LLP

It is mandatory for every limited liability partnership is to prepare and file a statement of accounts and statement of solvency in FORM 8 with MCA. With the help of company suggestion, you can easily prepare and filling your annual statement of accounts and solvency.

Annual filling of LLP

It is mandatory for every limited liability partnership is to prepare and file a statement of accounts and statement of solvency in FORM 8 with MCA. With the help of company suggestion, you can easily prepare and filling your annual statement of accounts and solvency.

Capital requirement for Limited Liability Partnership

LLP has not compulsory to invest minimum capital and no limit of maximum capital.

Capital requirement for Limited Liability Partnership

LLP has not compulsory to invest minimum capital and no limit of maximum capital.

Compliances of LLP

LLP is a hybrid of both company and partnership and it is registered with MCA. So, it is mandatory to file their financial statement and tax return annually. If an LLP fails to file the financial statement then the penalty will be attracted.

Compliances of LLP

LLP is a hybrid of both company and partnership and it is registered with MCA. So, it is mandatory to file their financial statement and tax return annually. If an LLP fails to file the financial statement then the penalty will be attracted.

Our Working Process :

Day 1:

Review of documents and information provided.

Checking Name availability and Name reservation application through RUN based facility.

Application for Digital Signature Certificate.

Day 2:

Drafting of required documents for Incorporation of LLP.

Day 3:

Getting Name approval from MCA.

Filing of Incorporation of LLP Form FiLLiP.

Day 4:

Drafting of LLP Agreement.

Day 5:

Filing of LLP Agreement in Form 3.

How to Incorporate the LLP:

Make Enquiry

Click on Get Started Button and Share your Contact Details

Make Payment

Pick a Package that best fits your requirements and Make Online Payment for your Order.

Submit Documents

Submit Documents for your Order Using Online Dashboard or Mail to us.

Work Completed

Work will be completed by us and updates delivered Online and Get your Certificate of Incorporation online.

Documents required for Limited Liability Partnership Registration :

  • PAN CardPAN Card of Partners.
  • Identity ProofAadhar card and Voter ID/ Passport/ Driving License of Partners.
  • Address ProofLatest Telephone Bill /Electricity Bill/ Bank Account Statement of Partners.
  • PhotographLatest Passport size photograph of Partners.
  • Business Address ProofLatest Electricity Bill/ Telephone Bill of the registered office address
  • NOC from ownerNo Objection Certificate to be obtained from the owner(s) of registered office
  • Rent AgreementRent Agreement of the registered office should be provided if any.
  • Consent LetterConsent Letter for appointing as Designated Partner/Partner in LLP.
GST REGISTRATION
Following registered persons not required to file GSTR 1, 2 and 3 such as:

Goods and Services Tax (GST) is an indirect tax applicable on the supply of goods and services. It is a comprehensive, multistage, destination based tax. It has subsumed almost all the indirect taxes except a few state taxes. It is collected from point of consumption and not point of origin like previous taxes.

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TRADEMARK REGISTRATION
Documents attach in trademark application:-

A trademark can be registered by the Controller General of Patents Designs and Trademarks, Ministry of Commerce and Industry, Government of India under Trademark Act, 1999 to protect the identity of any goods and services.

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income tax
Some basic information about Income tax

An income tax is a tax imposed on individuals or entities commonly known as taxpayers that varies with respective income or profits. Income tax generally is computed on taxable income which is calculated after various deductions. Taxation rates may vary by type or characteristics of the taxpayer.

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Frequently asked questions on LLP

1.Difference between partnership and LLP?

Ans. As per section 2(71) of Companies Act,2013 public company means a company which is not a private company.

2.What is the benefits of LLP?

Ans. In LLP there is no formality like other companies, it is easy to incorporate.

3.How many partners are required to incorporate a LLP?

Ans. In LLP there is minimum 2 partners and there is no limits of maximum partners.

4.How much capital is required to start a LLP?

Ans. In LLP the minimum capital IS 1 Lakh to 5 Lakhs required to start a LLP

5.What are the requirements to enter into LLP?

Ans. A partner should be an Indian citizen. Minimum age to become a partner is 18. There is minimum 2 partners to start a LLP.

6.Is the outsider can invest in LLP?

Ans. In LLP no outsider can invest in LLP.

7.Is there necessary to a partner of LLP to an Indian citizen?

Ans. No, it is not necessary to a partner of LLP to an Indian citizen.

8.Limits of partners to invest in LLP

Ans. There is no limit of partners to invest in LLP.

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ONE YEAR PACKAGE FOR LLP

 

BASIC

₹6,000/-

ONE TIME FEES

PAN Application
LLP Agreement formation
LLP Registration in ROC
GST Registration
MSME & Udhyog Adhar Registration

STANDARD

₹12,000/-

ANNUAL FEES

PAN Application
LLP Agreement formation
LLP Registration in ROC
GST Registration
1st Year Income tax return Filing
12 Months GST Filing
Annual filing with ROC
1st Year Accounting for GST purpose

PROFESSIONAL

₹17,000/-

ANNUAL FEES

PAN Application
LLP Agreement formation
LLP Registration in ROC
GST Registration
1st Year Income tax return
MSME Registration
12 Months GST Filing
Annual filing with ROC
1st Year Accounting Tally
TDS return filing
Drafting of Balance Sheet
ITR of partners

Note
Private Limited Company
Basic Features to Read before starting private limited company

Private company is required to add the word “Private limited” or “Pvt. Ltd.” to end of its name. Private company should have at least two member and two directors. Private company have right to issue debentures to any number of persons.

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Public Limited Company
Features of Public Limited Company

MCA provides the facility for incorporation of public limited company. For incorporation, firstly apply for name through RUN (Reserve Unique Name) on MCA portal. After availability of name from ROC we should file incorporation form i.e. Spice 32, INC 33(for eMOA), INC 34(for eAOA), .

Read More