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LLP Registration Guide
What is LLP (Limited Liability partnership) & How to Register this into India? Read this amazing Doc prepared by Enteslice for LLP Registration.
LLP Registration Guide
- 1. A COMPLETE REGISTRATI ON GUI DE LIMITED LIABILITY PARTNERSHIP by Enterslice Fintech Private Limited
- 2. Overview LLP REGISTRATION LLP orLimited liability partnership (LLP) is a form of business organization in India. An LLP registration offers more advantages to business owners in comparison to the general partnership.An LLP offers advantages of both a company as well as of a general partnership
- 3. The Limited LiabilityPartnership Act, 2008 governs the conduct of LLP's. Additionally, every LLP in India needs to add the word ‘LLP’ as suffix at the end of the LLP’s name. LLP is the preferred form of business among professional service providers and small and medium size business owners. Businesses that are family-based or closely held by few people prominently opt for an LLP registration in India. Limited liability partnership registration is the official process of incorporation of LLP form of business organization. The business partners provide necessary documents to the Ministry of corporate affairs to obtain the certificate of incorporation.This process is executed with the help of professionals.
- 4. BENEFITS OF ANLLP LIMITED LIABILITY The personal assets of the partners will not be confiscated to pay the losses incurred by the company. NO AUDIT REQUIREMENT There is no requirement for an audit in case of LLP's unless the annual turnover crosses the limit of 40 lakhs INR or the capital contribution exceeds 25 lakhs INR. NO MINIMUM CAPITAL REQUIREMENT There is no minimum capital requirement for incorporating an LLP. EASY TRANSFER OF OWNERSHIP There is a facility for easy transfer of ownership in an LLP. Unlike, the traditional partnership,
- 5. MINIMUM REQUIREMENTS TO REGISTERAN LLP FIRM Minimum of two designated partners One Indian Partner Designated Partners Identification Number DSC (Digital Signature Certificate) Registered office
- 6. Necessary Documents forLLP Incorporation in India A Checklist
- 7. FROM ALL DESIGNATEDPARTNERS PAN CARD AADHAAR CARD ADDRESS PROOF IDENTITY PROOF PHOTOGRAPH PASSPORT
- 8. FOR PROPOSED REGISTEREDOFFICE LATEST REGISTERED ADDRESS PROOF (ELECTRICITY BILL OR PROPERTY TAX RECEIPT OR WATER BILL OR LANDLINE BILL) NOC FROM THE OWNER SCANNED COPY OF NOTARIZED RENTAL AGREEMENT, IF THE PROPERTY IS ON RENT
- 9. REGISTRATION PROCEDURE STEP BYSTEP PROCESS APPLY FOR DIGITAL SIGNATURE CERTIFICATE (DSC) NAME APPROVAL FILING OF INCORPORATI ON APPLICATION FILE LIMITED LIABILITY PARTNERSHIP AGREEMENT STEP 5-FILE PAN APPLICATION
- 10. PARTNERSHIP AGREEMENT FILING APPLYFOR PAN & TAN OPEN BANK ACCOUNT COMPLIANCE REQUIREMENTS POST-INCORPORATION COMPLIANCES
- 11. STATEMENT OF ACCOUNT& SOLVENCY LLP ANNUAL RETURN INCOME TAX RETURN ANNUAL COMPLIANCES REQUIREMENTS FOLLOWING RETURNS ARE REQUIRED TO BE FILED
- 12. Penalty Amount A fixed amountof Rs. 100 per day for each compliance that is not filed. No maximum limit is specified. PENALTY PROVISIONS In the case of MCA Filing Penalty Amount Rs. 5,000 is imposed on it and filing is to be completed by 31st December of that year. In the case of MCA Filing
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