LLP Registration
An individual's yearly income is verified by obtaining an income certificate, which is an essential document in India. State residents need an income certificate in order to participate in any federal or state welfare program. LeagalDcos Advisor is where you may go to get help for your income certificate application from your state goverment.
Easy Process and Documentation
Required Paperwork
- Government of the Central/State issued photo ID proof.
- Address proof issued from Central /state government.
- Passport-size colour photograph.
- Ration card (BPL) or National Food Security Card. (if applicable)
- Signed self-declaration from applicant/head of family.
Process, Service Charges, Time duration
- When you send us your paperwork, our experienced staff will review your paperwork with local government officials to determine the service’s cost, feasibility, and completion date. After a quote has been given, it remains fixed. Location affects project duration and cost. Send us your documents and specific requirements to get a price and turnaround estimate.
- On an average Procurement takes four to six weeks.
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WHAT IS INCLUDED IN PACKAGE
- Advice at no cost until all questions are answered
- DSC, DIN, PAN, TAN, and Incorporation.
- Help with Establishing an Existing Checking Account
- Up-to-date information on ROC conformances
WHY CHOOSE LEGALDOCS ADVISOR?
- The Best LLP Registration Service at the Guaranteed Lowest Price
- You don’t have to come into the office, and there are no additional fees.
- Helping Your Company In Every Way
WHAT IS REGISTRATION OF A LIMITED LIABILITY PARTNERSHIP (LLP)?
Additional Read : What is Limited Liability Partnership?
TIMELINE
Completely Free of Charge Advice and Paperwork
All of your questions will be answered by our expert staff. Our service of consultation is without cost to you.
Needs Your Attention
You must complete the draft, submit payment, and upload necessary documents to LegalDocs.
Legal Documents in Action
The incorporation procedure will begin after all required documents have been submitted.
Authorization to Sign Digital Documents
DSCs, or Digital Signature Certificates, are used to digitally sign documents in place of hand-written signatures. Corporate formation requires DSC. You may get a digital signature certificate (DSC) using either a bundle of papers or Aadhaar-based e-kyc. It is mandatory that all corporate directors have DSC.
Needs Your Attention
You must reveal the OTP for e-KYC while conducting DSC.
Action By Legaldocs Advisor
LegalDocs will be in charge of the whole DSC application and generation process.
Director Identification Number
Each director of a legally operating corporation is given a Director Identification Number (DIN). No incorporation may take place without a DIN.
Steps You Must Take
Let Yourself Unwind and Take a Seat
Action By Legaldocs Advisor
Quickly, we’ll handle everything necessary.
Authorization of the Name
Submission of the RUN form constitutes “Name Approval” or “Name Reservation,” processes through which a unique name can be reserved (Reserve Unique Name)
Steps You Must Take
Sit back and relax; if your proposed names aren’t accepted, you’ll have to come up with some alternatives.
Action By Legaldocs
Name Reservation Process will be Handled by LegalDocs
Documents of Agreement, Association, and Incorporation
Upon a successful name reservation, we will begin the process of drafting a Memorandum of Association, Articles of Association, and incorporating the business.
Needs Your Attention
You’ll need to sign a few drafts and affidavits when the situation warrants.
Action By Legaldocs Advisor
We will proceed with incorporation, MOA, and AOA after the Name is authorized.
Company Incorporated
Congratulation, your business enterprise is integrated Successfully.
Action Required with the aid of using you
You can Start your Business, additionally you could begin utility on your commercial enterprise financial institution account.
Action By Legaldocs
We`ll Dispatch the Documents, DSC in your Given Address, Also we’re going to for PAN and TAN
DOCUMENTS REQUIRED FOR LLP REGISTRATION
Documents required
| PAN Card of Directors | PAN card of all partners. | Address proof of all partners. |
| The Registered Office’s Utility Bill | Landlord’s letter stating they have no issues with the lease | A copy of the lease. |
| Get your DSC |
CURRENT ACCOUNT OPENING
The professionals and businesspeople can use a current account, which is a form of deposit account, to manage their daily operations. Online current accounts provide several advantages for businesspeople, including:
- No Limits on Purchases
- Individualized design elements
- Providers of Electronic Funds Transfer
- Having a checking or savings account that you can access online is a huge time saver and allows you to do your banking whenever and wherever you choose.
ARE YOU READY TO GROW YOUR BUSINESS?
- Within 5 minutes, you may get a bank account with a zero balance.
- Spend without worrying about losing access to your money Facilitated by ICICI Bank
Additional Read : What is Limited Liability Partnership?
ENTITY COMPARISON GUIDE
| TYPE | PROPRIETORSHIP | PARTNERSHIP | LLP | PVT | OPC |
|---|---|---|---|---|---|
| Members | Maximum 1 | 2-20 | 2- Unlimited | 2-200 | 1 |
| Legal Status of Entity | Not regarded as a distinct legal entity | Not Considered as separate Legal entity | Not regarded as a distinct legal entity | Considered a distinct legal entity | Considered a distinct legal entity |
| Members Liability | Limitless Liability | Limitless Liability | Members’ liability is limited. | Limited by amount of share capital | Limited by amount of share capital |
| Registration | Not Necessary | Optional/Registrable under the Partnership Act of 1932 | Registered with the MCA | Registered with the MCA | Registered under the MCA and the Companies Act of 2013. |
| Transferability Option | Not Permitted | Not Permitted | Easily Transferable | Easily Transferable | Only one person can use it. |
| Taxation | The same as in Individual | 30% of the Company’s Profit | 30% of profit plus relevant CESS and surcharges | 30% of profit plus relevant CESS and surcharges | 30% of profit plus relevant CESS and surcharges |
| Annual Filings | Income Tax Returns with the Companies Registrar | Income Tax Returns with the Companies Registrar | filed with the company’s registrar | filed with the company’s registrar | filed with the company’s registrar |
Additional Read : What is Limited Liability Partnership?
FEATURES OF LLP
- For tax reasons, an LLP corporation is no different than any other type of partnership.
- In India, LLPs are registered and regulated by the Registrar of Companies, and at least one of the partners must be a resident of the country.
- To protect each partner from the financial fallout of a business partner’s negligent or willful activities, partnerships often prohibit partners from being held responsible for the actions or inactions of other partners.
- Each partner in an LLP in India is only responsible for their own agreed-upon contribution to the business.
ADVANTAGES OF LLP REGISTRATION
- In the viewpoint of the law, a limited liability partnership (LLP) is a different entity from its partners.
- When forming a limited liability partnership, a large initial investment is not necessary.
As for the number of members, a Limited Liability Company may be formed with just two people, but an LLP can have an unlimited number of partners. - Accounting: In India, a limited liability partnership (LLP) must undergo an audit if either its annual turnover or contributions reach 40 lakhs.
- A limited liability partnership (LLPorganizational )’s structure is more adaptable and user-friendly than those of other types of businesses.
- LLPs have a tax benefit since they are exempt from paying the dividend distribution tax and the Minimum alternative tax.
- In India, a limited liability partnership (llp) is treated as a separate legal entity and, as such, can hold real estate in its own name.
DISADVANTAGES OF LLP REGISTRATION
- Due to the numerous tax advantages enjoyed by LLPs, establishment of LLPs has been limited in a select few Indian states.
- Angel investors typically avoid LLPs because they are not seen as a good investment prospect.
- People are more likely to put their faith in corporations and partnerships than in LLPs.
- Limited liability partnerships (LLPs) in India just became legal in 2009.
DOCUMENTS REQUIRED FOR LLP REGISTRATION
Documents required
| 2-Digitized Signature Certificate (DSC) | 2-DIN, or Director Identification Number | Approval of a Company Name by the Ministry |
| Certificate of Registration for LLP Company | PAN (Permanent Account Number) | LLP Contract |
| Taxpayer Identification Number (TAN) |
LLP REGISTRATION FAQS
The initial roster of partners is set at the time of incorporation, and additional individuals may be admitted as Partners if and when they meet the necessary requirements.
The members of a limited liability partnership (LLP) enter into an LLP Agreement to establish the rights and responsibilities of the LLP’s members, as well as the LLP’s property, profit and loss distribution, and decision-making procedures.
With the advantages of both a partnership and a corporation, Restricted Liability Partnerships (LLPs) are governed by the Limited Liability Partnership Act 2008 and include limited liability for its partners.
A limited liability partnership (LLP) can be formed with as few as two members and as much as many as all members like.
