LLP Registration: A Comprehensive Guide

A Limited Liability Partnership (LLP) is a hybrid business structure combining the flexibility of a partnership with the benefits of limited liability. Governed by the Limited Liability Partnership Act, 2008, LLP is ideal for startups, professionals, and small businesses looking for a low-compliance, tax-efficient structure.

Benefits of LLP Registration

  1. Limited Liability Protection:
    Partners are not personally liable for the firm’s debts or obligations.

  2. Separate Legal Entity:
    LLP is distinct from its partners, allowing it to own assets, enter contracts, and sue or be sued.

  3. Flexible Management:
    Operations can be organized based on an LLP agreement, offering greater autonomy.

  4. Low Compliance Costs:
    LLP has simpler and more cost-effective compliance compared to private limited companies.

  5. Perpetual Succession:
    LLP remains unaffected by changes in partnership, ensuring continuity.

Eligibility for LLP Registration

  1. Minimum Partners:
    At least two partners are required. There is no upper limit on the number of partners.

  2. Designated Partners:

    • At least two Designated Partners must be individuals.
    • They must have DPIN (Designated Partner Identification Number) and one must be an Indian resident.

  3. Name Approval:
    The proposed LLP name must be unique and not infringe on existing trademarks or company names.

  4. Business Activity:
    LLPs can engage in any lawful business activity except those prohibited under the law.

Documents Required for LLP Registration

For Partners:

  1. PAN card (mandatory for Indian partners).
  2. Passport (for foreign nationals).
  3. Address proof (Aadhaar, voter ID, or driving license).
  4. Residential proof (utility bill or bank statement).
  5. Passport-size photographs.

For Registered Office:

  1. Rent agreement (if the office is rented).
  2. Utility bill (electricity, water, or property tax receipt).
  3. NOC from the property owner.

Other Documents:

  1. LLP Agreement.
  2. DSC (Digital Signature Certificate) for all partners.

Step-by-Step Process for LLP Registration

  1. Obtain Digital Signature Certificate (DSC):
    All designated partners must acquire a DSC for signing online forms.

  2. Apply for Designated Partner Identification Number (DPIN):
    File Form DIR-3 to obtain DPIN for designated partners.

  3. Name Approval (RUN-LLP):

    • Propose a unique name for your LLP using the Reserve Unique Name (RUN-LLP) service.
    • MCA will approve the name if it is unique and adheres to guidelines.

  4. Filing Incorporation Form (FiLLiP):
    Submit the Form FiLLiP (Form for Incorporation of Limited Liability Partnership) with the following:

    • Details of partners and registered office.
    • Attach DSCs and supporting documents.

  5. Draft and File LLP Agreement:

    • Create an LLP Agreement specifying the rights, duties, and profit-sharing ratios of the partners.
    • File the agreement in Form 3 within 30 days of incorporation.

  6. Receive Certificate of Incorporation:
    Upon approval, the MCA issues the Certificate of Incorporation with a LLPIN (Limited Liability Partnership Identification Number).

Post-Incorporation Compliance

  1. PAN and TAN Application:
    Apply for the LLP’s PAN and TAN after incorporation.

  2. Annual Returns:
    File Form 11 (Annual Return) with the ROC within 60 days of the end of the financial year.

  3. Statement of Accounts & Solvency:
    File Form 8 within 30 days of the end of six months from the financial year’s close.

  4. Income Tax Filing:
    File income tax returns using ITR-5 annually.

  5. GST Registration (if applicable):
    Obtain GST registration if turnover exceeds ₹40 lakhs (₹20 lakhs for service providers) or if engaged in interstate trade.

Why Choose AK Mehta & Associates for LLP Registration?

  1. Expert Guidance:
    Our team ensures a seamless LLP registration process with expert consultation tailored to your business needs.

  2. End-to-End Support:
    From DSC procurement to drafting the LLP Agreement, we handle everything for you.

  3. Timely Filings:
    Never miss deadlines with our proactive compliance reminders and assistance.

  4. Affordable Pricing:
    Get top-notch services at competitive rates with no hidden charges.

Contact Us Today

Simplify your business journey with hassle-free LLP Registration services by AK Mehta & Associates. Let us help you establish and grow your LLP with ease and efficiency!

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