Description
About the plan
LLP (Limited Liability Partnership) was introduced in 2008 to provide a form of business that is easy to maintain and to help owners by providing them with limited liability.
Registering your firm as a Limited liability partnership involves lesser compliance issues as compared to a PLC registration.
Limited Liability Partnership (LLP) has features of both, a corporation and a partnership. One partner is responsible for only his own actions and not the actions of his partner. LLPs are governed by Limited Liability Partnership Act(LLP Act), 2008.
Services covered
- Filing of All e-forms
- Drafting of LLP Deed
- Designated Partner Identification Numbers-DPINs (2 nos.)
- Digital Signature Certificates-DSCs – Class 3 (1 no.)
- Issue of Incorporation Certificate
- Includes Government Fees upto ₹ 1 Lac Capital Contribution by Designated Partners
- Stamp Duty for Capital upto ₹ 1,00,000 and its Notarisation in any state in India for LLP Deed
- GST Registration
- PAN & TAN Application
Documents required
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Photo ID proof of partners
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Address proof of partners
- Utility bill of business place (In case of owned property)
- Rent agreement and NOC from landlord (In case of rented property)
Time duration
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3 weeks to complete (Estimated).
FAQs
- What is LLP?
- A Limited Liability Partnership firm (LLP) is a mixed structure of partnership firm & private limited company where the business is carried out in a corporate manner, guided by terms of the mutually adopted partnership deed.
- What are the advantages to register LLP over a general Partnership Firm?
- Limited Liability- In the case of a Partnership Firm, partners are personally liable for debts of the business which means that even their personal property can be used to settle the firm’s debts. Whereas, in the case of LLP, the liability of partners is limited to the amount of contribution.
- Immunity against wrongdoings of other partners- Under the LLP structure, partners are never responsible for the negligence or misconduct of other partners whereas, in the general partnership firms, all partners are held responsible.
- Do I need to be physically present during this process or I have to come to your office?
- No, your physical presence is not required during the process. All work is completely online.
- I have to raise funds for my startup, should I go with LLP or other business form?
- No, if you want to raise funds either from banks or from investors then you should go with registering Private Limited Company. To read about Private Limited Company click here.
- Stamp duty is included in the package?
- Yes, stamp duty is included in the package.
- How many people do I need to register for LLP?
- Minimum 2 persons are required to register the LLP.
- What is DSC or Digital Signature Certificate?
- DSC is simply a signature that you can use to sign documents online. It comes in a pen drive and you just need to attach it with your laptop or computer to sign the documents online. If you need a DSC separately then click here.
- Do I have to occupy full time accountant for maintaining accounts?
- A full-time accountant is required only when there is a lot of work to maintain on daily basis. If your monthly transactions are low for e.g., 100 to 1,000 transactions per month then it is recommended to get Indtaxes Accounting services. Click here to see Indtaxes’ bookkeeping or accounting services.
- Is it cheaper to run LLP over a Private Limited Company?
- Yes, running a LLP is cheaper than a Private Limited Company, particularly initial days, when the turnover is less because in case of LLP, audit is applicable only if the sales is exceeding ₹ 40 Lacs or capital contribution is exceeding ₹ 25 Lacs.
- In case of Private Limited Company audit is always mandatory irrespective of sales or capital.
- How much money do I need to invest in the beginning? OR What is the minimum capital that I need to put in my LLP?
- There is not any requirement mentioned in the law. You can start just from ₹10 also, but generally, people start with 5,000 to 10,000.
- I have not a separate place to run my LLP. Can I take LLP registration from my home?
- Yes, you can take registration from your personal address.
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10+ Services Covered
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Monthly expert visit
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220+ 5 star reviews
What our clients say
220+ client’s reviews with Google 4.9 ratings
• 10+ Services Covered
• Monthly expert visit
• 220+ 5 star reviews
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