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LLP registration and deed drafting including Government Fee & Stamp Duty*.
About this Service :
| Market Price | : |
| IGLI FINANCIAL | : ₹6199 excl.GST |
| : ₹7099 incl.GST | |
| GST Credit | : ₹900 |
| You Save | : ₹6800(53%) |
| Government Fee | : Including |
LLP Registration in India has become an alternative form of business that provides the advantages of a Company and the flexibility of a Partnership firm into a single organization. The Concept of LLP in India was introduced back in 2008 by the Limited Liability Partnership Act of 2008. This unique hybrid is suitable for setting small, medium-sized businesses.
It is very easy to manage and incorporate a Limited Liability Partnership in India. To register an LLP minimum of two partners are required, there is no upper limit as such. The LLP agreement states the rights and the duties of the Partners. In an LLP one partner is not responsible for the misconduct and negligence of the other partner. The partners are responsible for the compliances and all the provisions that are specified in the LLP agreement.
It’s an organised partnership
There is no minimum requirement in terms of contribution i.e. LLP can be formed with a very low capital
While 2 partners are the minimum, there is no limit on the maximum number of partners an LLP can have
It operates based on a contract where the parties have the power to alter the terms
It is relatively easier to form and run
LLP structure is more flexible in terms of procedural and legal requirements
It is easier to dissolve
And of course, limited liability to the partners
Disadvantages of LLP
There are some disadvantages to the structure of Limited Liability Partnership registration in India. Some of these disadvantages are:
The income tax rate for LLP (30% irrespective of turnover) is higher than that of companies (25% up to ₹400 crores).
Irrespective of whether the LLP is active, certain compliances have to be completed regularly after registration. If an LLP fails to do so, there is an additional penalty of ₹100 per day for each day of continuing default.
There is no option for getting an equity investment.
LLP has to disclose their finances to the public, which is not in the case of partnerships.
Transfer of ownership rights is difficult as it requires written consent from all the partners and even one objection can make it difficult.
All the forms that need to be submitted online require the directors’ DSC. So, the first step in the process is to get DSCs and DINs for 2 partners. We collect the necessary information from you and file it on your behalf.
Simultaneously, we check if the name you want to register under is available and reserve it for your LLP. You can check for name availability in the MCA portal.
The approval of the name will be made by the registrar only if the central government does not deem it undesirable. The name should not hold any resemblance to any of the existing partnership firms, LLPs, trademarks, or body corporates.
The next step is to draft the LLP agreement and other documents for registration. An LLP agreement is very crucial in a limited liability partnership as it determines the mutual rights and duties amongst the partners, and between the LLP and the partners. Thus, our experts take utmost care in drafting this agreement.
The partners enter into the LLP agreement upon registering the LLP by filing Form 3 online on the MCA portal. This procedure has to be done within 30 days of the date of incorporation.
Our team will file the necessary forms and documents with the registrar. Once the registrar approves all the forms and documents, you get your LLP incorporation certificate and are almost set for running your business.
As soon as you get the incorporation certificate, we will apply for the PAN, TAN, and bank account for your LLP.
The following are included in IGLI FINANCIAL LLP Registration in India package:
We also assist with the following to register a LLP company in india:
Any individual, private limited company, or LLP can be a partner in an LLP, including foreign nationals and body corporates. Provided the individual is qualified to enter into a contract and the corporate bodies assign a nominee to act on its behalf.
No, LLPs don’t require a Memorandum of Association (MoA) or Articles of Association (AoA). Instead, they use the LLP agreement as the guiding document.
Yes, body corporates can be designated partners of an LLP by appointing a nominee to act on their behalf.
Yes, you can convert a partnership to an LLP. There are certain procedures involved and the eAuditor Office can get it done for you smoothly.
Yes, you can convert a private or unlisted public company into an LLP easily with the help of the eAuditor Office. However, you cannot convert a listed company into an LLP.
Yes, as per the provisions of the LLP Act, it is mandatory to file the LLP agreement post-registration.
Once you submit the application, you will receive an SRN number. Using that you can track your application status in the portal. It is essential to regularly check the status as sometimes it can be marked as “Waiting for user clarification”/“Required resubmission” and these require immediate actions from you.
An LLP can be registered within 10 days approximately of getting DSC. However, this timeline depends on your promptness and departmental approval.
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