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LLP (Partnership Firm)

A Limited Liability Partnership (LLP) is a partnership in which some or all partners(depending on the jurisdiction) have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner’s misconduct or negligence.

Benefits


As against company there is no minimum capital requirement in LLP. An LLP can be formed with least possible capital. Moreover, the contribution of a partner can consist of tangible, movable or immovable or intangible property or other benefit to the LLP.

An LLP requires a minimum 2 partners while there is no limit on the maximum number of partners. This is in contrast to a private limited company wherein there is a restriction of not having more than 200 members.

The cost of registering LLP is low as compared to cost of incorporating a private limited or a public limited company. However, the difference in cost of registering a LLP vs Private Limited Company has come down in the recent days.

In the case of a company, if the owners to withdraw profits from company, an additional tax liability in the form of DDT @ 15% (plus surcharge & education cess) is payable by company. However, no such tax is payable in the case of LLP and profits of a LLP can be easily withdrawn by the partners.

Documents Required for LLP (Partnership Firm) Registration

  • PAN Card of the Partners.
  • Address Proof of the Partners.
  • Utility Bill of the proposed Registered Office of the LLP.
  • No-Objection Certificate from the Landlord.
  • Rental Agreement Copy between the LLP and the Landlord.

Procedure


Buy EAdvisors LLP (Partnership Firm) Registration Plan.


Session with EAdvisors Expert on registration of LLP (Partnership Firm) for detail discussion on nature of business entity, activity and other requirements.


Submit all the documents required for LLP (Partnership Firm) Registration, Preparation and submission of application for LLP (Partnership Firm) Registration with department.


Issuance of LLP (Partnership Firm) Registration certificate by E-mail.

Pricing

We work round-the-clock to ensure the taxpayer’s problem is resolved. Check out the price table below
and choose a plan the most suitable for you.

Free
000

  • Refund of GST credits application
  • Publications and forms, including individual tax return instructions
  • Refund of GST credits application
  • Publications and forms, including individual tax return instructions
  • Refund of GST credits application
  • Publications and forms, including individual tax return instructions
  • Refund of GST credits application
  • Publications and forms, including individual tax return instructions
  • Refund of GST credits application
  • Publications and forms, including individual tax return instructions

Basic
5995
Fuel tax credits registration

Publications and forms, including individual tax return instructions

Premium
9995
Buisness income tax refund

Publications and forms, including individual tax return instructions

What Clients Say

I am very satisfied with your service for GST registration. I have good experience with you.

Accounting was always challenge for us before we met EAdvisors. Now compliance and accounting is smooth for us.

I got my ESI and EPF registration in just 3 days, coordination with customer care is impressive.

FAQ’s

What is LLP?

LLP is defined as partnership formed and registered under Limited Liability Partnership Act is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name. The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.

What are the salient features of LLP?

The LLP shall be a body corporate and a legal entity separate from its partners. Any two or more persons, associated for carrying on a lawful business with a view to profit, may by subscribing their names to an incorporation document and filing the same with the Registrar, form a Limited Liability Partnership.

Who can be a “Designated Partner”?

Every LLP shall be required to have at least two Designated Partners who shall be individuals and at least one of the Designated Partner shall be a resident of India.

In case of a LLP in which all the partners are bodies corporate or in which one or more partners are individuals and bodies corporate, at least two individuals who are partners of such LLP or nominees of such bodies corporate shall act as designated partners.

What are the requirements for Incorporation of LLP?

First Obtain designated partner identification number (DPIN / DIN) for the designated partners and also obtain Digital Signature.

Can LLP give any other address (besides its registered office) for the purpose of receiving communication from Registrar and What are the requirements for change in registered office ?

It has been provided in the Act that a document may be served on a LLP or a partner or designated partner by sending it by post or by any other mode (to be prescribed under Rules) at the registered office and any other address specifically declared by the LLP for the purpose in such form and manner as may be prescribed (in the rules). Thus, an LLP shall have option to declare one more address (other than the registered office) for getting statutory notices/letters etc. from Registrar.

Where the change in place of registered office is from one state to another state, the limited liability partnership shall publish a general notice, not less than 21 days before filing any notice with Registrar, in a daily newspaper published in English and in the principal language of the district in which the registered office of the limited liability partnership is situated and circulating in that district giving notice of change of registered office.

Where the change in place of registered office is from one place to another place within the state from the jurisdiction of one Registrar to the jurisdiction of another Registrar or from one state to another state, the limited liability partnership shall file the notice in Form 15 with the Registrar from where the limited liability partnership proposes to shift its registered office with a copy thereof for the information to the Registrar under whose jurisdiction the registered office is proposed to be shifted.

How can a person become partner of an LLP?

Persons, who subscribed to the “Incorporation Document” at the time of incorporation of LLP, shall be partners of LLP. Subsequent to incorporation, new partners can be admitted in the LLP as per conditions and requirements of LLP Agreement.

How can an existing partner cease to be a partner of an LLP?

A person may cease to be a partner in accordance with the agreement or in the absence of agreement, by giving 30 days notice to the other partners. Notice is required to be given to ROC when a person becomes or ceases to be partner or for any change in partners.

What are the compliance related to change in partner?

There is any change in Partner and DP (admission, resignation, cessation, death, expulsion) should be filed e- form 4 within 30 days of change with fees. And also Supplementary LLP Agreement to be filed e- form 3 with ROC within 30 days with fees given the alteration in mutual rights and duties of partners and Form 4 shall include a statement signed by the incoming partner that he consents to become a partner.

Whether any Annual Return would be required to be filed by an LLP?

Every LLP would be required to file Annual Return with ROC. A duly authenticated Annual Return in e- Form-11, is to be filed with the Registrar, together with the prescribed fee, within a period of 60 days from the closure of every financial year.

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