Limited Liability Partnership

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.

  • DSC of 2 Partners
  • DPIN for 2 Partners
  • Name Reservation for LLP registration
  • Partnership Deed Drafting
  • LLP Identification Number
  • PAN & TAN
  • Bank Account Opening template
  • Free Call by CA about the Compliance requirement after successful LLP registration in India.

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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.

Services Covered

  • DSC (Digital Signature Certificate) of Proposed Partners
  • DPIN (Designated Partner Identification Number) of Proposed Partners
  • Name Reservation
  • 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

Documents Required

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

Basic Requirements

  • 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
  • Limited Liability
  • Continuous Existence
  • Tax Benefits
  • 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:

  1. Annual Turnover exceeding Rs. 40 lakhs or
  2. 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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