LLP Registration
LLP registration and deed drafting including Government Fee & Stamp Duty*.
| Market Price: | ₹12000 |
|---|---|
| Professional Services Price: | ₹5542incl. GST |
| Government Fee: | Included |
LLP Registration in India
LLP Registration in India has become an alternative form of business that provides the advantages of a Company and the flexibility of a Partnership firm into a single organization. The Concept of LLP in India was introduced back in 2008 by the Limited Liability Partnership Act of 2008. This unique hybrid is suitable for setting small, medium-sized businesses.
It is very easy to manage and incorporate a Limited Liability Partnership in India. To register an LLP minimum of two partners are required, there is no upper limit as such. The LLP agreement states the rights and the duties of the Partners. In an LLP one partner is not responsible for the misconduct and negligence of the other partner. The partners are responsible for the compliances and all the provisions that are specified in the LLP agreement.
Checklist for registering an LLP in India
For incorporating an LLP in India:
Documents required to register an LLP in India
For registering an LLP in India following documents are required. We at Professional Services carry on LLP registration with just a nominal fee of Rs.5542.
For the Partners:
- PAN card or Passport if the applicant is a foreigner.
- Drivers license or Aadhar card, resident card or election card, or any other identity proof issued by the government.
- Less than 3-month-old bank statement or telephone bill.
Registered office proof:
- The authorization from the landlord ( Name mentioned in the Electricity bill or Gas bills or Property Tax receipt or sale deed) to use the premises as a registered office. This acts as a NOC from the landlord and;
- Proof of evidence of any utility services like gas, electricity, telephone depicting the address of the premises bearing the name of the owner or document, which is not old than two month.
Advantages of LLP registration in India
There are several reasons why people opt for LLP registration in India over Private Limited Company incorporation. LLPs are considered to be easier to set up and flexible form of business. Entrepreneurs find it feasible to start their organization as it is comparatively hassle-free in day-to-day operations. Here, we take a look at the various advantages of LLPs.
Low registration cost: The cost of registering an LLP in India is comparatively lower than that of incorporating a public limited company or a private limited company. You can register an LLP here through IndiaFilings at just 7899.
No requirement for minimum contribution: As an LLP can be formed with the least possible capital, there is no minimum capital requirement in the incorporation of an LLP.
No limits on the owners of the business: An LLP requires a minimum of 2 partners but there is no such upper limit on the maximum number of partners. Whereas in a private limited company there are restrictions on having more than 200 members.
No requirement of compulsory audit: Whether the company is Public or Private irrespective of their share capital is expected to get its account audited. But here in the case of LLPs, there is no such mandatory requirement and this is considered to be one of the significant compliance benefits of forming an LLP. A Limited liability company is supposed to get its audit done only in two cases.
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- When the contribution of LLPs exceeds over Rs. 25 lakhs.
- When the annual turnover of LLPs exceeds over Rs. 40 lakhs.
Taxation aspect on LLP: LLP is liable for payment of income tax and the share of the partner is not liable to taxation. Thus, no Dividend Distribution Tax (DDT) is payable.