LLP Registration in India

 

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Registration of Limited Liability Partnership (LLP) in India

Online Limited Liability Partnership (LLP) Company Registration  


Online Registration of Limited Liability Partnership (LLP) is now easy with Tax Robo's simple LLP Company Registration Process. Register today!


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What is a Limited Liability Partnership (LLP)?


It is an enhanced version of a partnership firm.

As the name suggests, Partners or "Members" as they are sometimes called, are shielded with "Limited Liability".

They enjoy the benefits of a partnership firm and stay protected to a certain extent from the losses incurred to the Business. This means they are responsible for bearing losses up to the limit of their financial investment in the Business.

  Advantage Of LLP Registration

✓ Limited Liability: An LLP is a legal body that is separate from its partners. This means if the company issued for debts, the partners aren't personally responsible for losses.

✓ No limit on the Number of Partners: With a minimum requirement of two partners, an LLP can have an unlimited number of partners, thus more people/companies can become partners and invest in Business.

✓ No Minimum Capital Requirement: There is no need for a fixed capital to open an LLP. Also, a member is free to invest either in money or support via intangible property.

✓ Uninterrupted Existence: Since An LLP is a separate legal entity, it will continue to exist and function even if a partner decides to leave, or dies.

✓ No need for compulsory Audits: It is mandatory for every private or public company to get their accounts audited but not for an LLP. A limited liability partnership firm needs Tax auditing only if
        The contributions of the LLP exceeds Rs. 25 Lakhs, or
        The annual turnover of the LLP exceeds Rs. 40 Lakhs.

✓  Absence of dividend distribution Taxes: Members of an LLP are protected from paying dividend distribution Tax, which is Tax paid by a corporation when sharing profits among members. Partners in an LLP are required to pay only Income Tax.

How to Incorporation of Limited Liability Partnership (LLP) Company in India

Here are the easy steps one can follow to register a Limited Liability Partnership (LLP) Company. Since the entire process is now online, you don't need to be physically present for any formalities. One Person Company can be formulated in just 10-12 working days.


Step 1

Gather all necessary documents of all the partners such as PAN Card, Proof of Address (Passport, Driver's license / Voter ID / Aadhar), and Proof of Residence (Bank Statement/Utility Bill, etc.)


Step 2

Apply for your LLP company's name approval under the Ministry of Corporate Affairs with up to 2 names of your choice. In case they are rejected, you can apply once more with 2 suitable names.


Step 3

Obtain DSC (Digital Signature Certificate) and DIN (Director Identification Number)


Step 4

Fill up the SPICE (INC-32) form for incorporation application with the Ministry of Corporate Affairs (MCA) SPICE stands for Simplified Proforma for Incorporating Company Electronically.


Step 5

File for PAN, TAN, and open Bank Account. Once you get an Incorporation certificate, your LLP Company becomes officially active. Now you need to acquire the Company's PAN, and TAN, and open a Bank Account for trading activities.


Basic Package

₹6999 .00

* All Inclusive

  • LLP Registration
  • LLP Deed Drafting
  • Digital Signature Certificate 2 Years Validity (2 Persons)
  • Name Approval
  • PAN & TAN
  • GST Registration
  • Incorporation Certificate
  • Appoint First Auditor of the Company
  • Free Bank Account Opening

Family Auditor

₹13999 .00

* All Inclusive

  • LLP Registration
  • LLP Deed Drafting
  • Digital Signature Certificate 2 Years Validity (2 Persons)
  • Name Approval
  • PAN & TAN
  • GST Registration
  • PF & ESI Registration
  • Incorporation Certificate
  • Appoint First Auditor of the Company
  • Free Bank Account Opening
  • Free GST Monthly Return 1 Month
  • Free Tax Consulting  

Knowledge of the Business

✓ Do you have previous experience in the same Business? how many years?

✓ Product analysis with the questions of whether the product is under any restricted sales in India eg. Cement, Steel.

Marketing Strategy

✓ Marketing strategy is available with target customers.

✓ Pricing of products and margin available in the product.

Growth of the Business

✓ Growth of the Business in India for the next 5 to 10 years.

✓ Feasibility report of the Business and products.

✓ Business plans and projected Financial Product for 5 years.

Funds – Working Capital

✓ Sufficient working capital required for running the Business for a minimum period of 3 months. The funds can be own funds or Bank funds.

✓ How many months of Investment in the Business have required, returns on investments, and working capital funds available for fixed expense months?

Limited Liability Partnership (LLP) Registration Process Online - Simple Steps

Step 1

Obtain Dsc for Director And Apply Name Approval (After Check Company Name Availability)

Step 2

Incorporation Of Documents (Draft Sent To You For Confirmation)

Step 3

File Spice + Forms

Step 4

Get Incorporation Certificate, Pan, TAN & Bank Accounts

Documents Required For Incorporation Of a Limited Liability Partnership (LLP) Company


ID Proof

Scanned copy of PAN Card, Voter ID, Passport , Driving License

Registered Office Proof

No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property) / Registry Proof or House Tax Receipt (in case of owned property)

Address Proof

Latest Bank statement/ Utility bill in the name of director which should not be older than two months

Photo

Latest passport size photograph

Compliance After Incorporation Of a Limited Liability Partnership (LLP) Company


Statutory Obligations

✓ File GST return every month without delay

✓ PF & ESI return filing

✓ TDS Payments & Return filings

✓ Advance Tax payments

✓ File Income Tax return by every year before due date

Compliances

✓ GST registration

✓ PF & ESI Registration if applicable

✓ Profession Tax registration

✓ Import & Export Code registration

✓ STPI Registration / SEZ registration

✓ Secretarial compliance required for passing resolutions, Change in Management, entering contracts, loan obligations etc

Accounts & Operations

✓ Open a Bank account with one Private Bank and one scheduled Bank

✓ Get one accounting software with GST facility

Performance

✓ Review Financial Products performance by every 3 months

✓ Compare the budget amount with actual Financial Products results