Knowledge Center
What Is Included In package
- Free Consultation till your Every Doubt is Resolved
- DSC, DIN, PAN, TAN, Incorporation
- Current Account Opening Assistance
- Timely Updates On ROC compliances
Why Choose LegalDocs?
- Get Instant LLP Registration online
- Best Service @ Lowest Cost Guaranteed
- No Office Visit, No Hidden Charges
- 360 Degree Business Assistance
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
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) |
