Limited Liability Partnership (LLP) Registration
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Overview
Limited Liability Partnership (LLP) refers to the body corporate formed under the LLP Act, 2008. It is a legally autonomous entity from its partners. Such a unit has the full extent of its assets; However, the liability of the partners is limited to their agreed contribution. And because stakeholder liability is limited in LLP, it covers aspects of the partnership firm structure and corporate structure.
How it works
Register
Fill all the required information requested in the registration form.
Expect a call from us
Once we receive quote request, our experts will get in touch with you immediately.
Service Delivery
After the discussion and submission of required documents, service will delivered. Time of delivery may differ based on the service.
Benefits
Convenient.
No minimum capital requirement
No limit on owners of business
Lower Registration Cost
No requirement of compulsory Audit
Savings from lower compliance burden
Taxation Aspect on LLP.
(DDT) not applicable
Documents Required
PAN card copy of the Director and Shareholder.
Photo ID proof of director - Voter ID or Passport or License
Proof of registered office, Updated gas or electricity bill or Property tax receipt
Passport size photograph
Specimen signature or impression
Copy of rental agreement and no objection certificate from the owner of the property
Minimum Criteria to be met
Minimum 2 Partners
Director Identification Number (DIN) for all the Designated Partners
Incase of a body corporate being a partner, Nominee should be a natural person
Digital Signature Certificate (DSC) for all the Designated Partners
Contribution by each Partner towards Capital of LLP
What you will get
DIN for 2 Partners
LLP agreement draft and filing
Bank Account and Payment Gateway Integration Support
Digital Signature for 1 Partner
LLP PAN Card
Incorporation Certificate
LLP TAN/TDS Number
GST Registration
Frequently Asked Questions
Name reservation: The first step to incorporate a Limited liability partnership (LLP) is the reservation of the name of LLP. The applicant has to file eForm 1 for ascertaining availability and reservation of the name of an LLP business.
The Certificate of Incorporation (COI) acts as conclusive evidence of the formation of the LLP. Immediately after securing this certificate, partners can initiate the business proceeding with ease.
The due date for filling this form is 30th October of each FY. Failure to file such a form can attract a penalty of Rs 100/day.
The processing time for incorporating LLP in India takes around 15-20 working days.
As per the central government notification, LLP registered under the LLP Act, 2008 must be treated as a partnership firm or firm under the GST regime.
LLP is not obligated to address taxes on their income & partner’s share. Therefore, no dividend distribution tax is addressable as u/s 40(b). However, bonuses, commissions or remuneration, salary payment, Interest to partners do expose to taxes.
A member of such establishments is taxed on his/her profit’s share that is reaped by the partnership. For a higher tax rate, the taxpayer, A member of an LLP is, however, taxed on his or her share of the profits that are generated by the partnership. For a higher or additional rate taxpayer, they would therefore pay 40% or 45% income tax on the LLP profits, whereas a company may pay corporation tax at a lower rate (19%).
LLPs in India is mandated to audit their account as per Rule 24 of LLP, Rules 2009. Such rules, among other, states that any LLP, whose annual turnover does not surpass, in any FY, Rs 40 Lacs, or whose contribution does not surpass Rs 25 lac, is not obligated to get its accounts audited
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