How To Create A Llp Company In India

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LLP Registration

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DSC, DIN, PAN, TAN, Incorporation
Current Account Opening Assistance
Timely Updates On ROC compliances

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What is Limited Liability Partnership (LLP) Registration?

Limited Liability Partnership (LLP) Registration as the name suggests defines limited liability to its partners. Thus it 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.

Additional Read : What is Limited Liability Partnership?

Timeline

Day 1 1.
Day 2 2.
Day 3 3
Day 8 8
Day 26 26
Day 27 27

Free Consultation and Documentation

Our Expert team resolve your queries. Our consultation is completely free.

Action Required by you

You Need to fill up the draft, Make Payment and Submit Documents to LegalDocs

Action By Legaldocs

Once the Documents are uploaded we'll start the step -by-step process of Incorporation

Digital Signature Certificate

Digital Signature certificate also known as DSC is used to sign the document digital insted of traditional signature. DSC is necessry for incorporation. With set of documents or with aadhar based e-kyc DSC can be obtained. All directors of company should have DSC.

Action Required by you

You need to share the OTP for e-KYC during DSC

Action By Legaldocs

DSC application and Generation will be a complete responsibility of LegalDocs

Director Identification Number

Director Identification number or DIN is allocated to each and every director who has formed company. Without DIN, incorporation is not possible.

Action Required by you

Just Sitback and Relax

Action By Legaldocs

We'll take care of the whole process in swift manner.

Name Approval

Name Approval or Name Reservation is the process to reserve unique name through Submission of RUN form (Reserve Unique Name)

Action Required by you

You need to sit Back and Relax, In case of Rejection in the names given by you, you need to suggest alternate names.

Action By Legaldocs

we'll take care of End-to-End Name Reservation Process

MOA, AOA and Incorporation

Memorandum of Association, Article of association and incorporation process will be initited upon sucessful name reservation.

Action Required by you

Need to Sign few Drafts and affidavits as in when required.

Action By Legaldocs

Once the Name is approved we'll do the incorporation, MOA and AOA process.

Company Incorporated

Congratulation, your company is incorporated Sucessfully.

Action Required by you

You can Start your Business, also you can start application for your business bank account.

Action By Legaldocs

We'll Dispatch the Documents, DSC on your Given Address, Also we'll for PAN and TAN

Additional Read : LLP Compliances

Documents required for LLP Registration

Documents required

PAN Card of Directors	PAN card of all partners.	Address proof of all partners.
Utility Bill of the registered office	A No-Objection certificate from the landlord	A copy of the rental agreement.
		Get your DSC

Additional Read : Documents Required for LLP Registration

Current Account Opening

A current account is a type of deposit account that helps the professionals and businessmen to run their business. Businessmen can avail various benefits by Online Current Account such as:

Unlimited transactions
Customized features
Online banking services

Online current account reduces the hassle and provides the benefit to complete the banking process anytime and anywhere.

Are you Ready to Grow your Business?

Zero Balance Current Account
In just 5 mins
Free Current Account Powered by ICICI Bank

Entity Comparison Guide

TYPE	PROPRIETORSHIP	PARTNERSHIP	LLP	PVT	OPC
Members	Maximum 1	2-20	2- Unlimited	2-200	1
Legal Status of Entity	Not Considered as separate Legal entity	Not Considered as separate Legal entity	Considered as separate Legal entity	Considered as separate Legal entity	Considered as separate Legal entity
Members Liability	Unlimited Liability	Unlimited Liability	Liability of its members is limited	Limited to the extent of share capital	Limited to the extent of share capital
Registration	Not Compulsory	Optional/ Can be Registered under partnership Act 1932	Registered Under MCA	Registered Under MCA	Registered Under MCA and Companies Act 2013
Transferability Option	Not Allowed	Not Allowed	Can Be Transferred	Can Be Transferred	Allowed to only one person
Taxation	As in Individual	30% of Company Profit	30% of Profit Plus CESS and Surcharges applicable	30% of Profit Plus CESS and Surcharges applicable	30% of Profit Plus CESS and Surcharges applicable
Annual Filings	Income Tax Returns with the Registrar of companies	Income Tax Returns with the Registrar of companies	Filed with the registrar of the company	Filed with the registrar of the company	Filed with the registrar of the company

Features of LLP

LLP company is treated like any other partnership firm for taxation purposes
One of the partners in LLP company,must be an Indian
Registrar of Companies registers and controls LLPs in India
No partner is liable on account of the independent or unauthorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner's wrongful business decisions or misconduct.
Liability is limited to each partner agreed upon contribution to the LLP company in India.

Advantages of LLP Registration

Legal Recognition:
LLPs are treated as separate legal entities so the partners and LLP are distinct from each other in the eyes of the law.
Minimum capital:
There is no requirement of minimum capital to start a limited liability partnership.
Number of Members:
Only two members are required to form Limited Liability Company while there is no limit on maximum number of partners in LLP.
Auditing:
Auditing of LLP in India is required only if contribution exceeds 25 lakhs or annual turnover exceeds 40 lakhs.
Organisation Structure:
It is easier and flexible to manage organisational structure of LLP as compared to other company structures.
Taxation:
Dividend distribution tax and Minimum alternative tax is not applicable on LLPs and thus it is an added advantage.
Owning a property:
an llp in India can own a property as it has separate legal recognition in the eyes of law.

Disadvantages of LLP Registration

Few of the states in India have restricted formation of LLP in state due to various tax benefits.
LLPs are not looked as an investment opportunity by angel investors.
Trust of people is more on companies and partnerships as compared to LLPs.
LLP in India was introduced in 2009 thus they have less recognition.

Documents required for LLP Registration

Documents required

2-Digital Signature Certificate (DSC)	2-Director Identification Number (DIN)	Company Name Approval By Ministry
LLP Company Registration Certificate	Permanent Account Number (PAN)	LLP agreement
Tax Account Number (TAN)

LLP Registration FAQs

What is LLP company?

LLP is a Limited Liability Partnership which has features of both, a partnership and a corporation and partners have limited liabilities and are governed by Limited Liability Partnership Act 2008.

How many people are required to form LLP?

Minimum two people are required to form LLP and there is no limit on maximum number of partners.

Are there tax benefits for LLP?

Yes. There are some tax benefits for LLP like Dividend distribution tax and Minimum alternative tax.

How to become a partner in LLP?

Partners are decided during incorporation of the company and later can increase in number after fulfilling specific conditions to become a partner.

What is LLP registration Fees?

LLP registration fees depend upon a lot of factors and varies from case to case.LegalDocs provides the lowest rates in the market for LLP company registration.

What is LLP Agreement?

LLP Agreement is a contract between members of an LLP which generally contains all the rules and obligations for the members,member's investment,regulations regarding property, profit and loss sharing,decision-making process of the company among other things.

How can I register my partnership firm?

Please refer to the steps mentioned above to register your partnership firm.

How do you form an LLP?

Please refer to the above-mentioned step by step procedure to form LLP.

How to do online company registration?

Please refer the above mentioned step by step procedure for online company registration.

Can i register LLP at my home address?

Yes. An LLP can be registered at your home address.

What are LLP Annual Filing?

LLP Annual filing includes following components: Annual Return Statement of the Accounts or you can say Financial Statements of the LLP Income Tax Returns Filings.

Where can I get LLP agreement format?

You can get LLP agreement format here.

Do I need to be physically present to incorporate an LLP?

No. This process is completely online and physical presence is not needed.

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