LLP Registration
Online LLP registration with LLP deed drafting at Rs.7499 with Tax Rupees the best online LLP registration services in India.
Basic Plan
- LLP Deed Drafting
- LLP Registration
- Current Account Opening
- GST Registration
- 2 Digital Signatures
Standard Plan
- LLP Deed Drafting
- LLP Registration
- Current Account Opening
- GST Registration
- 2 Digital Signatures
- 1 Year Dedicated Accountant
Premium Plan
- LLP Deed Drafting
- LLP Registration
- Current Account Opening
- GST Registration
- 2 Digital Signatures
- 1 Year Dedicated Accountant
- 1 Year GST Return Filing
- 1 Year MCA Filing
- 1 Year Income Tax Filing
- 1 Year DIN KYC for Directors
Documents Required For LLP Registration
LLP Registration
A limited liability partnership, or LLP, is a business structure in which partners are not personally liable for the debts and liabilities of the firm. LLPs are popular in many professional services businesses, such as accounting, law and consulting.
In India, an LLP must have at least two partners and can be registered with the Registrar of Companies (ROC). The registration process is relatively simple and straightforward, and ongoing compliance requirements are not onerous.
An LLP offers several advantages, including flexibility in management and profit-sharing arrangements, limited liability protection for partners, and the ability to raise capital more easily than other business structures. However, there are also some disadvantages to consider, such as higher taxes and potential conflicts between partners.
What is an LLP
An LLP, or a Limited Liability Partnership, is a business structure in which partners are only liable for their own actions and not those of the partnership as a whole. This means that if one partner gets sued, the other partners will not be held liable - only the assets of the partnership can be used to pay off debts and settle lawsuits. There are three types of LLPs: general partnerships, limited partnerships, and joint ventures.Related Knowledge Base
Maximizing Your Tax Savings in India Tips and Tricks
A Beginners Guide to Indian Income Tax Filing in 2023
GST Return Filing Everything You Need to Know
Comprehensive Guide to GST Registration :: How to Register for GST in India
Understanding the Basics of GST: A Beginner's Guide
How to Make Your Business More Affordable in India
How to Grow Your Business in India: 10 Tips for Success
Why Filing GST on Time is Important for Your Business
Advantages of an LLP
- Limited liability for all partners: As mentioned before, one of the biggest advantages of an LLP is that each partner is only liable for their own actions and not those of the partnership as a whole. This protects the personal assets of each partner in case the business is sued or goes into debt.
- Flexible management structure: Another advantage of an LLP is that it has a flexible management structure. Partners can decide how they want to run the business and how decisions will be made.
- Less paperwork: LLCs also have less paperwork than other business structures such as corporations. For example, there is no need to hold annual shareholder meetings or keep minutes from these meetings.
Disadvantages of an LLP
- Difficulty getting financing: One disadvantage of an LLP is that it can be difficult to get financing from banks or other financial institutions because they view LLPs as high-risk investments.
- No continuity after death or withdrawal of a partner: Another disadvantage is that if a partner dies or withdraws from the partnership, the LLP must be dissolved and reformed with new partners in order to continue operating.
- Higher taxes: LLPs are also subject to higher taxes than other business structures such as sole proprietorships and corporations.
How to Register an LLP in India
The first step towards registering an LLP is to obtain a Digital Signature Certificate (DSC) and a Director Identification Number (DIN). The DSC can be obtained from any certifying authority licensed by the Central Government of India. The DIN can be applied for through the Ministry of Corporate Affairs (MCA) website.The next step is to file the incorporation documents with the Registrar of Companies (ROC).
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Declaration by each subscriber and director in Form INC-7
- Affidavit by each subscriber and director in Form INC-8
- PAN Card of each subscriber and director
- Address Proof of each subscriber and director
- Banker’s Certificate or Copy of Passbook showing bank account details
Process of Registering an LLP
- Obtain a Digital Signature Certificate (DSC) and Director Identification Number (DIN).
- File the incorporation documents with the Registrar of Companies (ROC).
- The ROC will issue a Certificate of Incorporation.
Documents Required for Registering an LLP
The following documents are required for registering an LLP:- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Declaration by each subscriber and director in Form INC-7
- Affidavit by each subscriber and director in Form INC-8
- PAN Card of each subscriber and director
- Address Proof of each subscriber and director
- Banker’s Certificate or Copy of Passbook showing bank account details
What are the Ongoing Compliance Requirements for an LLP in India
Filing of Annual Returns
All LLPs registered in India are required to file annual returns with the Registrar of Companies (ROC). The annual return must be filed within 60 days of the LLP's financial year end. The LLP's financial year is the same as the calendar year, unless the LLP has notified the ROC otherwise.Appointment of Auditors
LLPs are required to appoint one or more auditors who must be qualified chartered accountants. The auditors are appointed by the partners at a meeting of the partners and hold office until the next annual general meeting of partners.Maintenance of Accounts
LLPs are required to maintain proper accounting records in accordance with generally accepted accounting principles. The accounts must give a true and fair view of the LLP's state of affairs and must be kept up to date.Filing of Taxes
LLPs are required to file income tax returns on an annual basis. The due date for filing income tax returns is 30 September, following the end of the financial year.Get LLP registration online with Tax Rupees
Did you know that you can now register for LLP online with Tax Rupees?Yes, that’s right!
We are a leading provider of online LLP registration services. We can help you obtain your LLP registration certificate and trade license quickly and easily.
We also offer a range of other services such as company formation, GST registration, and trademark registration.
So what are you waiting for? Contact us today to get started!
FAQ
If you don't see an answer to your question, you can send us an email from our contact form.
A Limited Liability Partnership should have at least two Partners and a LLP can have quite a few Partners.
The assigned Partner should be a characteristic individual who is over 18 years old. LLP Act 2018 permits a far off public including Foreign Companies to join a LLP in India, gave something like one designated partner is Indian.
A LLP can be begun with any measure of cash there is no such least necessity. A partner might contribute both tangible and intangible property.
A DSC is useful in recognizing the sender or the underwriter electronically. The Ministry of Corporate Affairs (MCA) has made it required for every one of the assigned accomplices to apply with the Digital Signatures.
Assigned Partner Identification Number is a one of a kind recognizable proof number that is allocated to all current and proposed Designated accomplices of a LLP. Every one of the present or proposed Directors should have a DPIN.
Assigned Partner Identification Number is a one of a kind recognizable proof number that is allocated to all current and proposed Designated accomplices of a LLP. Every one of the present or proposed Directors should have a DPIN.
A NRI can be an assigned partner in a Limited Liability Partnership assuming that he has a Designated Partner Identification Number. Be that as it may, something like one Designated Partner in the LLP should be an resident Indian.
FDI is permitted under robotized course in a LLP by the Foreign Investments Promotion Board (FIPB). Note: Foreign Institutional Investors and Foreign Capital Investors are not permitted to put resources into LLPs.
A current association firm or a Company that is unlisted can be changed over into a LLP. This transformation into a LLP acquires many advantages.
For the Partners
1. PAN or Passport
2. Any Identity proof
3. Bank statement Registered office verification
4. NOC from the landowner to utilize the premises of the registered office
5. Any service bills of the premises which are at least two months.
Our Services
Proprietorship
Happy Customers
Customer satisfaction is our major goal. See what our customers are saying about us.
"A big thanks to the Tax Rupees team for making GST returns simple and easy for us. Rather than requiring 7 to 8 days to do compromise, presently it's simply a question of hours. The people there help us at any given time."
Sumit Kaushal
"Excellent service at a reasonable cost. You can do everything from the comfort of your own home and have all of your company registration documents delivered, which I thought was impossible. You saved a significant amount of time and money."
Shivanand Mogha
"Tax Rupees handled all of the documentation and filings required to get my startup company up and running. I went for LLP registration, and Tax Rupees expertly guided me through all of the processes and kept me up to date"
Mr. Pal
"Our experience with Tax Rupees has been amazing and their method of execution is excellent and simply amazing. I would like to continue working with TR for a longer period of time."
Prince Tyagi
"I've been using TaxRupees for a year. My personal interactions with them have been very positive and responsive. They follow up on GST, TDS, and other statutory compliance in a timely and efficient manner. I also used their services for the new Private Limited Company we formed in June 2020."
Deep Kumar
"I had a very positive experience with Tax Rupees. They were quick to assist with all of my work and provided all related services in a timely manner. I recommend them to any individual or business that is looking to incorporate."
Ankit Sachdeva
Features and Advantages of Various Business Entities
| Features | Proprietorship | Partnership | LLP | Company |
|---|---|---|---|---|
| Definition | Unregistered type of business entity managed by one single person | A formal agreement between two or more parties to manage and operate a business | A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. | Registered type of entity with limited liability to the owners and shareholders |
| Ownership |
|
|
|
|
| Registration Time | 7-9 working days | |||
| Promoter Liability | Unlimited Liability | Limited Liability | ||
| Documentation |
|
|
|
|
| Governance | - | Under Partnership Act | LLP Act, 2008 | Under Companies Act,2013 |
| Transferability | Non Transferable | Transferable if registered under ROF | Transferable | |
| Compliance Requirements |
|
|
|
|