Choosing the right entity type could be a time taking process, but with the right information you can start your venture pretty soon. This Presentation would give exactly the right information that is self sufficient to incorporate a LLP in India.

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Incorporating a
Limited Liability Partnership (LLP)
in India

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As an entrepreneur, key factors to consider while choosing the entity type:
• Funding structure/ requirements
• Limited liability
• Founding team structure
• Initial cost
• Compliance work involved
• Tax advantages
Private Limited Company
Limited Liability Partnership
Business
Incorporation in India
Partnership
One Person Company
Sole Proprietorship

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Mandatory registration
Private Limited
Company
Limited Liability
Partnership
Partnership
One Person
Company
Sole
Proprietorship
Auditor Appointment
Annual Returns Filing
Limited Liability
Multiple partners
Ease of Incorporation +
Compliance
Ease of allotting Share
Yes
Yes
Yes
Yes
Yes
Very Easy
Yes
Yes
Yes
Yes Yes
Easy
Yes
Yes
Yes
Very EasyComplex
No
No
No
Complex Not Possible
Complex
No
Yes
No
No
No
Complex
No
Not Possible
No
Optional
Less Complex
No
Majorly there are 5 entity options for a for Profit Business

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Requirement to start LLP:
At least 2 Designated partners
No minimum contribution
Designated Partners are the Shareholder
LLP Agreement
Not required
to maintain
any registers
Top 4
Reasons
Limited
Liability
Less
Compliance
Misconduct
by a partner
does not
affect other
Why do businesses choose to incorporate as LLP?

5. Documents Required:
Address proof of Office PAN card of Directors Photo of directors Address proof
of directors Identity Proof
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Share your
requirement
DSC +DIN Name Approval +
Registration,
LLP Form -1
Drafting
LLP Deed
Incorporation
certificate
Apply
LLP Form -2
Apply LLP Form -3
with LLP Deed
+PAN+TAN
1 Day 2 Days
2 Days1-2 Days2 Days
Hire and pay depositShare Documents
online
1 Day
Deliverables:
Time to deliver Registration: 7-10 days
DIN approval letter
Name approval letter
Certificate of Incorporation
MoA &AoA
PAN & TAN number
DSC of Director
Registered address approval mail
from MCA
LLP Deed
Company Bank Account
Documents and procedure involved in registering LLP

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Company Documents Registration Accounting Legal
‒ Get PAN card (part of
incorporation)
‒ Get company TAN (part of
incorporation)
‒ Company bank account
‒ Company seal and
letterheads
‒ GST
‒ Shops and Establishment
‒ Professional Tax Registration
‒ Professional Tax enrollment
‒ PF Registration
‒ ESI Registration
‒ Trade/ Food License
‒ IEC Registration
‒ Other applicable
registrations
‒ Book Keeping
‒ Payroll Processing
‒ TDS monthly Filing &
Quarterly Returns
‒ GST Returns Filing
‒ Annual RoC filings
‒ Income tax filings
‒ Vendor Agreement
‒ Employment Contracts
‒ Sexual harassment policy
‒ Consultant/ Freelancer
Agreements
‒ Other Contracts
Wazzeer can do
Depends on nature, scale or
location of business
The legal, accounting and compliance work to be done in the first 100 days of an LLP

7. Can I register my office address as my residential address?
Yes. Your residential address can act as the registered office address for a company. If the place is on rent and the bills are in
the owner’s name, a ‘no objection certificate’ will be needed.
Do the directors need to be physically present during this process?
No. The complete process can be carried out online. Wazzeer has developed a Stand Operating Processes that delivers
Business Registration 100% online in a seamless way. You might need to sign and courier us a few documents.
What is a Digital Signature Certificate (DSC)?
The DSC is an instrument issued by certifying authorities to enable you to sign a document electronically. A DSC is required for
signing of multiple documents while registering and then operating a company.
What are the Tax rates for an LLP and is Dividend Distribution tax applicable?
'Firm' tax is applicable to LLP @ 30.90% on net profit of the company. There is no DDT. Profit after tax will be credited to
partners' account and it will not be taxable in the hands of partners again.
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Frequently asked questions (1/3)

8. What are the documents required for DSC registration?
•1 Address Proof - Any one of: Driving license, Voter ID, Utility bills, Passport, Tax receipts, Bank Statement, PF statement,
•1 Identity Proof - Any one of: PAN card of the applicant (for Indian nationals), Passport of the applicant
Later in future, if partners want to withdraw capital from the firm, how can that be done?
Partners can withdraw capital subject to LLP agreement. It is also possible for a partner to reduce contribution liability after
giving notice to creditors
Can a partner resign or be removed from LLP?
A partner continues as a partner in the LLP even after transferring all his rights in the LLP if LLP agreement provides. A
partner can even resign from the LLP. It is possible to remove a partner subject to the LLP agreement.
What is LLP Name Approval?
Once you decide on the name of your company with reference to LLP Name Guidelines Rule 18 of LLP Rules, you need to
apply to MCA on Form 1. Once approved, the name will be reserved for 90 days.
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Frequently asked questions (2/3)

9. Can I register my office address as my residential address?
Yes, you can show your own residential or rented home address as the registered office address of the Company. If you take
place for rent, and the bill’s are on the Owner’s name then ‘No Objection Certificate’ is required.
Who can be partners/partners in an LLP?
Any individual (Residents, NRIs, Foreigners), or even a company or an LLP, can become a partner. However, only an individual
can become a ‘designated partner’ in an LLP. Note. at least one of the designated partners in an LLP should be an Indian
national.
What is an LLP agreement?
An LLP agreement is signed by partners of LLP regarding the relationship between the individual partners in the LLP. This
document determines the mutual rights and duties of the partners and their rights and duties in relation to that limited
liability partnership. Partners are to file an agreement by above declaration within 30 days of Incorporation
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Frequently asked questions (2/3)

10. We make things simple!
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Why choose Wazzeer for this service?

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Communicate
your requirement
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and Track
Review and accept
delivery
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Deposit
Wazzeer is evolving into a trusted destination for end to end legal, accounting and compliance
services

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Let’s talk
Utkarsh Singh
+91 – 9937536453
Utkarsh.singh@wazzeer.com
Smart Platform for Legal, Accounting & Compliance services.