Limited Liability Partnership (LLP) !

LLP means Limited Liability Partnership, which is an another alternative Corporate Business form for doing the Business that inculcate both the benefit of Limited Liability of Company and the flexibility of a Partnership. Limited Liability Partnership (LLP) is defined under Limited Liability Partnership Act 2008 which means partnership formed and registered under this Act. Following are some of the important attributes of LLP that one should be aware of:

  • Separate Legal Entity: From the day of Incorporation, LLP is having separate legal entity distinct from its partners.
  • Limited Liability: The Liability of the Partners of Limited liability partnership is limited upto the extent of agreed contribution which the partners have decided to contribute.
  • Mutual Rights and Duties: In LLP all the mutual rights and duties between the partners are governed by an agreement drawn between the partners and the LLP.
  • Partners: Minimum 2 and there is no limit on Maximum number of Partners.
  • Continuity: LLP can continue its existence irrespective of the change in partners.
  • Compliance requirement: LLP have lesser compliance requirement as compared to that of the Company.

Advantages of Limited Liability Partnership

  • It is very easy to form as there is no much formality and procedure required.
  • Just like a Company, it is also a Body Corporate which means it has its own existence and known by its own name not by the name of its partners.
  • The number of compliances are lesser as compared to Companies.
  • Audit requirement by Chartered Accountant arises only if the annual turnover/ contribution exceeds Rs. 40 lacs/25 lacs.
  • Liability of the Partners is limited upto the extent of the agreed contribution which the partners have decided to contribute.
  • LLP Act does not regulate the LLP to large extent rather than it allows partners the liberty to manage as per their will and fancies.

Documents Required To Register Your LLP

  • Scanned Copy of Aadhar card and PAN Card of each Partner (Self Attested).
  • Scanned Copy of Voter ID card/ Passport/Driving License as proof of Identity of each Partner (Self Attested).
  • Passport size photograph of each Partner.
  • Utility Bill of the registered office premise not older than 2 months. If the Registered office premise is rented, then Copy of the Rent Agreement is required along with Utility Bill. If the registered office is owned, Property papers are required along with the Utility Bill.
  • Utility Bill (Electricity Bill/ Mobile Bill/ Gas Bill/ Bank Statement) of each Partner not older than one month as residential proof.
  • Scanned Copy of the No Objection Certificate (NOC) (We will provide you the format).
  • Scanned Copy of the Subscriber sheet including consent (We will provide you the format).

Procedure for LLP Registration

  • 1) Get your proposed LLP name approval.
  • 2) Get the DSC of the Partner and get it registered on MCA portal.
  • 3) Proceed with the Incorporation by preparing and submit various set of documents to ROC.
  • 4) Get the Certificate of Incorporation.
  • 5) Delivery of all the Printed documents at your doorstep.

Pricing Tables

Pricing of Limited Liability Partnership

Silver
Rs.6999.00all inclusive fees
  • Capital Rs. 1 lakh
  • 2 class three digitals
  • 2 Designated Partner Identification Number
  • 1 Run Name Approval
  • Incorporation Fee
  • LLP Deed
  • ESI & PF REGISTRATION
  • PAN & TAN
  • GST Registration
  • Business Management Guidance
  • One Bank Current Account Opening
  • GST Invoicing Software
  • 3 months GST Return filing
  • Import and Export Code

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Diamond
Rs.23999.00all inclusive fees
  • Capital Rs. 1 lakh
  • 2 class three digitals
  • 2 Designated Partner Identification Number
  • 1 Run Name Approval
  • Incorporation Fee
  • LLP Deed
  • ESI & PF REGISTRATION
  • PAN & TAN
  • GST Registration
  • Business Management Guidance
  • One Bank Current Account Opening
  • GST Invoicing Software
  • 12 months GST Return filing
  • Import and Export Code
  • Financial Statement Preparation
  • Annual Filing ROC
  • Income Tax Filing
  • Udhyam Registration
  • TDS Return Filing
  • Annual Report –GST-Form 9/9A

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