LLP is a hybrid of Partnership Firm & Company which has gained tremendous popularity in India. In this, there is a limited liability of partners, unlike company.
Starting at 9000/-
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About this Plan
LLP (Limited Liability Partnership) registration is preferable for small and medium-size business as there are numerous benefits of LLP registration such as limited liability of its partners, less regulatory compliances and tax benefits. Enterslice can help you with LLP registration in a hassle-free manner, as we have experienced professionals who have knowledge of various laws.
DSC (Digital Signature Certificate) of Proposed Partners
DPIN (Designated Partner Identification Number) of Proposed Partners
Drafting of Partnership Deed
LLP Identification Number
PAN & TAN
Bank Account Opening
Consultation regarding post registration requirements & compliances
Who should go for it?
LLP registration is most preferable for small & medium enterprises. LLP registration is usually opted by the closely held business. In LLP, an individual, company or foreign national can become a partner.
Collection of documents of all the partners
Apply for DSC (Digital Signature Certificate) of all the partners
Apply for name approval of the LLP firm
Draft Partnership Agreement
File LLP Incorporation Form
Apply for PAN
From All Designated partners/ Partners
PAN or Passport or Election ID Card
Copy of Aadhar card of all partners
Copy of latest Bank Statement
Copy of utility bills such as telephone or mobile Bill
Voter's ID/Passport/Driver's License
Passport-sized photograph of all directors and shareholder
For Proposed Registered office (Residential or commercial)
Registered Address Proof (electricity bill / property tax receipt / water bill / landline bill)
NOC from owner
In case of rented property, scanned copy of Notarized Rental Agreement
Minimum 2 Designated Partners
Drafting of Partnership Agreement
No minimum capital requirement
Frequently asked Questions
Q1. What is the LLP Agreement?
LLP agreement provides a description of the constitution of the partnership as well as the mission, vision & object of the organization in the long run.
Q2. What are the benefits of LLP registration?
There are various benefits of LLP registration such as:
Separate Legal Entity
Less regulatory compliances
Q3. How much capital is required for LLP registration in India?
No minimum capital is required for LLP registration in India. No such provision is mentioned under the Limited Liability Partnership Act, 2008.
Q4. What is the post LLP registration compliances?
The following must be complied with once the LLP registration process is completed:
Filing of partnership Agreement in Form 3
Apply for PAN & TAN
Bank Account Opening
Filing of statement of account & solvency in form 8
Annual Return in form 11 (Due Date is 30th May of each year)
Income Tax Return Filing in form ITR 5 (Due Date is 30th September of each year)
Q5. What are the audit requirements for LLP in India?
LLP is required to comply with the provisions of the LLP Act 2008 & Income-tax Act, 2008.
As per LLP Act, 2008, audit is required under the following circumstances:
Annual Turnover exceeding Rs. 40 lakhs or
Contribution exceeding Rs. 25 lakh
As per Income-tax Act, 1961 audit is required under the following circumstances:
If annual turnover exceeds Rs. 1 crore
Q6. Can we convert LLP into Company?
Yes, we can convert partnership firm into a company by filing form 17 with the registrar along with the incorporation application & partnership agreement.
Enterslice is committed to helping its clients in an excellent manner. For more information, you can reach us by posting a query.
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