Limited Liability Partnership (LLP) Registration
Ideal business structure for Small and Medium-sized
Enterprises going for Partnership
Starting At Rs. 6,999 Onwards
(Takes 15-30 days)
LLP Registration Online
How To Register An LLP Company Online
You can operate your business under a “Limited Liability Partnership” in India online. We hold immense knowledge and expertise in LLP registration and will help you in the following ways.
LLP Registration Online
Limited Liability Partnership (LLP)
LLP was started in India under the “Limited Liability Partnership Act, 2008” which states that partners are not liable for other’s misconduct. LLP is preferred by “experts, Micro and Small businesses” that are family-owned or are closely-held.
Limited Liability partnership provides the advantage of limited liability to its proprietors and at the same time needs essential care. The proprietors of a private limited company have limited responsibility to creditors. In case of failure, banks/creditors can just sell the organization’s assets and not the individual assets of directors
Accordingly, all partners in an LLP enjoy a type of “limited liability”, which acts as a protection for them, within the partnership.
LLP Registration is done by “LegalRaahi” which is situated in “Delhi NCR, Bengaluru, Mumbai, Chennai, and all other Indian cities.”
Choose LLP because
- Double benefits- Company and a Partnership
- Limits the liabilities of its partners
- No partner will be liable for other partner’s misbehave
- Cheaper to incorporate than a private limited company
Factors to Consider While Selecting an LLP Name
Short & Simple
No same Trademarks
The name of your LLP Company must finish with the suffix “LLP” is an instance of a limited liability partnership
Should not be illegal or offensive
Why choose LLP Registration?
- It has a different legal entity, not at all like partnership firms.
- The liability and duty of each partner are limited to the commitment made by the partner.
- An LLP has a ‘never-ending progression’ that is broadened endurance until it is brought to an end by a shared agreement between the partners.
- The expenditure on establishing an LLP is low.
- An audit is not required as LLPs are medium and independent companies
- Less agreement and guidelines in the formation of LLP.
- No terms for least capital commitment.
- The responsibility of an LLP can be effortlessly moved to someone else. All you require is to select them as a Designated Partner of the LLP.
Important forms in LLP Registration
- RUN – LLP Reserve Unique Name-Limited Liability Partnership- A form for reserving a name for the LLP
- FiLLiP – A Form for incorporation of LLP
- Form 5- Notice for change of name
- Form 17- Application and statement for the conversion of a firm into LLP
- Form 18- Application and Statement for conversion of a private company or unlisted public company into LLP
What are the Compliance Requirements after an LLP Company Registration in India?
When a Limited Liability company enrollment is done, then the recently incorporated LLP is relied upon to get done with the following compliances. These compliances are one time in nature and are not repeated.
1. Partnership Agreement Filing
2. Apply for PAN & TAN
3. Open Bank Account
Annual Compliances Requirements after the LLP Registration
After the completion of the formation procedure, LLP is relied upon to comply with the yearly consistent necessities. If the number of transactions after the LLP registration is zero, then LLP will record NIL return.
The following returns are relied upon to be enlisted:
1. Statement of Account & Solvency
2. LLP Annual Return
3. Income Tax Return
Penalties Provisions in LLP annual compliance default
- According to the “Limited liability Partnership Act, 2008”, it is compulsory to register for all the prescribed compliances on an annual basis. There is a provision for a penalty, in case of any failure in registering Form 8 and Form 11, for reporting of the LLP’s financial statements and annual returns. A fixed amount of Rs.100 per day, for each agreement that is not registered. No maximum limit is specified.
- Every enrolled LLP is required to do Income tax return filing with Annual filing. This filing should be done before the 30th of September every year. After LLP registration, any LLP which fails to meet this deadline will be imposed with a penalty of Rs.5,000 and the filing must be done by 31st December of that year. If the LLP fails to reach this deadline, then the penalty amount will be double that is Rs.10,000.
It takes 15 to 30 working days (approx.) to complete the Limited Liability Partnership Registration method. The timeline may fluctuate depending upon reactions from the ROC department.