LLP Company Registration | Limited Liability Partnership | Procedure | Cost | Fees | Online in India | Professional Utilities
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LLP Company Registration


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Limited Liability Partnership


LLP Registration, a prime reason why it has evolved is that of its simplicity in a formation and easy maintenance. It helps owners also to limit their liabilities. This is the biggest advantage of an LLP over a traditional partnership firm.

Incorporating LLP company has both Limited Liability features of a Private Limited company and the flexibility of a Partnership firm. No partner is liable on account of unauthorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s misconduct. LLP form of organization is usually preferred by Professionals, Micro and Small businesses that are family owned or closely-held.

LLP registration procedure is the easiest and transparent process as it has a blend of the benefits of a company and partnership firm namely, limited liability feature of a company and the flexibility of a Partnership firm. Procedure of LLP registration is not lengthy as you can file your incorporation form online. Online LLP registration procedure will save you a lot of time and energy. LLP registration process includes following steps:

  • Get a digital signature (DSC)
  • Apply for Director Identification Number (DIN)
  • Get the name of the company approved
  • Incorporation of LLP
  • File ‘Limited Liability Partnership Agreement’

LLP Registration Fees

ESSENTIAL

₹7,999

₹3,499/-

2 Digital Signature Certificates

2 Director Identification Numbers

1 Name Approval Application

LLP Incorporation Certificate

LLP Agreement

PAN

TAN


ENHANCED

₹15,999

₹11,999/-

2 Digital Signature Certificates

2 Director Identification Numbers

1 Name Approval Application

LLP Incorporation Certificate

PAN & TAN

SSI/MSME Registration

Trademark(1 application 1 class)

GST Registration

ULTIMATE

₹25,999

₹ 20,699/-

2 DSC & DIN

1 Name Approval Application

LLP Incorporation Certificate

PAN, TAN, GST & MSME Registration

Trademark(1 application 1 class)

1st Income Tax filing for non audit assessee

1 Year TDS Filing upto 500 entries

1st Annual Filing upto turnover of Rs. 40 Lakhs


Advantages of LLP


No Minimum Capital

No minimum capital is required for LLP Formation. No minimum capital contribution required from partners. It can be registered even with Rs. 1000 as total capital contribution.

LLP Audit

In the case of LLP, no mandatory Audit is required. The audit is required only when the turnover of the company exceeds Rs 40 lakhs and where the contribution exceeds Rs 25 lakhs.

Easy Transfer

Interest in Limited Liability Partnership can easily be transferred by introducing new Designated Partner in LLP and it will not affect its existence As it is a separate legal entity.

Separate Legal Entity

LLP enjoys the benefit of Separate Legal Identity in the eyes of law which clearly states that assets and liabilities of the business are not the assets and liabilities of the Partners.

LLP Tax Benefits

It is also exempted from various taxes such as dividend distribution tax and minimum alternative tax. The rate of tax on LLP is less than as compared to the company.

Multiple Relationships

A person can be a partner, employee or creditor of an Limited Liability Partnership. There may be different contracts with the same person in different capacity.


Documents Required for LLP Incorporation

Quick Checklist

  • Photograph of all the Partners
  • PAN Card of all the Partners
  • ID Proof of all the Partners (Driving License/Passport/Voter ID)
  • Electricity Bill or any other utility bill for the address proof of the Registered Office

Specific Requirements

  • An Limited Liability Partnership must have a registered office in India. Documents like bank statement or electricity bill should not be older than 2 months. Along with that utility bill, rent agreement or sale deed and a No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of an LLP must be submitted.

How to incorporate LLP Online?

5 Easy Steps

1

Obtain DPIN & DSC

2

Reserve your LLP Name

3

Filing LLP Agreement

4

Obtain LLP Incorporation Certificate

5

Obtain PAN & TAN

Fill a Simple Checklist

Our Compliance Manager will get in touch with you to obtain your documents along with a simple checklist. You need to fill up the checklist and submit along with the documents for processing. Our expert team will verify documents and proceed with LLP Formation Procedure. All throughout the process, a dedicated Compliance Manager will keep you updated on the progress of LLP Registration.

DPIN & Name Approval

Once you submit your documents along with Checklist, we will proceed with the application of your DPIN (Designated Partner Identification Number), Digital Signature and subsequently name approval. If you already have DIN, DPIN is not to be obtained again. Names should be unique and suggestive of LLP’s business. It usually takes 1-2 days to get the name approved.

LLP Registration

Once the name is approved, we will prepare an LLP Agreement. We will then file incorporation documents with MCA. Usually, MCA approves the forms within 6-7 days once filed, subject to processing time and issues Incorporation Certificate. PAN & TAN will then be separately applied for your LLP. You may then proceed to open your LLP Bank Account, once PAN is allotted.

Government Fees / Cost for LLP registration:

For registration of Limited Liability Partnership, government fees are as below. Note that there are additional costs such as DIN application fees, stamp duties, LLP form filing fees as well:

  • Limited Liability Partnership whose contribution does not exceed Rs. 1 lakh Rs. 500/-
  • Limited Liability Partnership whose contribution exceeds Rs. 1 lakh but does not exceed Rs. 5 lakhs Rs. 2000/-
  • Limited Liability Partnership whose contribution exceeds Rs. 5 lakhs but does not exceed Rs. 10 lakhs Rs. 4000/-
  • Limited Liability Partnership whose contribution exceeds Rs. 10 lakh Rs. 5000/-

However, it may vary according to the stamp duties of respective states.

Every LLP is required to have at least two Designated Partners who shall be individuals and at least one of them shall be a resident of India. The mutual rights and duties of partners shall be governed by the agreement between LLP and the partners. This Agreement would be known as “LLP Agreement”.

Suggested Read: LLP registration Process and fees in detail.