The Limited Liability Partnership (LLP) is one of the business concepts in India, introduced by the Ministry of Corporate Affairs (MCA), Government of India during the year 2008. Unlike a partnership firm, a limited liability partnership has limited liability in which some or all partners will have the limited liability. It exhibits the elements of both partnership and company. In LLP, one partner is not responsible or liable for another partner's negligence or misconduct.
The limited liability partnership is a legal entity and an alternative to corporate business form. It is liable to the extent of it's total assets whereas the partners liability is limited to the extent of their capital contribution. We can say LLP is an hybrid between a company and a partnership. LLP Registration is regulated by The Ministry of Corporate Affairs, Government of India. The governing law for the LLP is Limited Liability Partnership Act, 2008. The LLP registration in India is entirely online. If you’re looking to make your LLP registered, then CompaniesHouse is the team for you. Register your LLP online with us today and you’ll be on your way to operating a registered LLP under 10 days.
The liability of the partners of the LLP is limited. The Designated Partners or Partners are not personally liable for the debts of the LLP. For example, when the LLP is in default of repayment of debt or loan, there is a protection to the personal assets of the Designated Partners or Partners. They can recover the loan amount only by selling the assets of the LLP. The lender will not involve in thier personal assets.
Limited Liability Partnership business is suitable for those who are looking for minimal statutory compliance. LLP exhibits the elements of both partnership and company. In LLP, one partner is not responsible or liable for another partner's negligence or misconduct. LLP is an hybrid between a company and a partnership. Most enterprenuers prefer LLP rather than a Partnership Firm.
An LLP, which is having turnover upto Rs. 40 lakhs or a Capital Contribution up to an amount of Rs. 25 lakhs is not required to appoint an Auditor. Talented employees show interest in LLP type of businesses instead of Partnership or Proprietorship firm. Employees of reputed LLPs can get loans from Banks easily at a less rate of interest.
The Designated Partner of the Limited Liability Partnership can be the employee of the LLP. He can give his own premises on rent/lease to LLP and Collect rent from it, he can give loan to the LLP and can take loan from LLP, he can supply goods or services to the LLP and get consideration for that. LLP can raise unsecured loan without any restrictions as compared to a Company.
The Designated Partners of the of the Limited Liability Partnership may come and may go but an LLP may not go that means the Designated Partners are different and the LLP is different. Limited Liability Partnership can own assets on it own name and can sell. It can sue and can be sued in a court of law.
The Designated Partners of the Limited Liability Partnership may easily exit the LLP by simply signing a resignation letter. New Designated Partners may enter into LLP by signing the Limited Liability Partnership Amendment Agreement and the ownership will be changed easily.
Get Certificate, DPINs, DSCs, LLP Agreement, PAN, TAN, GST, MSME, IEC, Bank A/c support & GST Software along with your LLPIN.
We will apply Class-III DSCs through eMudhra Portal Online. The OTPs will be generated on your Aadhar enabled mobile numbers, we will submit the same OTPs and then the system will send video recording link through SMS and email to you. The DSC will be approved by the eMudhra team after your video recording submission. Then we will download the DSCs in ePass Tokens and use these for signing incorporation forms.
We will prepare the documents provided by you in an order ie. Pan, Id Proof and Address Proof as a single document, we will prepare the Designated Partner's consent in Form 9, No-objection letter from landlard of the office premises, draft main objects of the llp and then prepare the LLP Incorporation forms online through MCA web portal and upload with MCA website by paying the requisite fee.
After scrutiny, the officers of MCA will approve the form and issues you the Certificate of Incorporation through email. You will also get DPIN approval letters through email from MCA. We will then apply for LLP PAN, TAN online through NSDL/UTI. We will draft and send you the LLP Agreement.
As an Official LLP Registration Agent, we have built strong ties with the Ministry of Corporate Affairs, Govt of India since our own formation. Since we began, our goal has been to provide a seamless incorporation process that is quick and simple to use. Today, our LLP registration system is one of the most effective and efficient in India. In just over 5 minutes you can submit your new LLP name application, and often in just 3-5 days, your LLP will be fully registered. We also keep our LLP formation pricing competitive, while always exploring innovative ways to provide value to our customers. We are pleased to be one of the most affordable ways to start an LLP in India.
We have the expertise to advise which is the correct corporate structure they need to put in place. Most customers come to us for help registering a company limited by shares. The limited company structure is popular as it allows profits to be distributed amongst the shareholders while at the same time protecting them through the limited liability aspect. Our team has well over 20-years of combined expertise forming LLPs and providing corporate and secretarial services that help thousands of our clients grow their businesses each year.
We are incredibly passionate about the quality of our service, and we are incredibly proud of our customer feedback, as shown by our excellent reviews and ratings. Time and time again, we are selected for the value and expertise that our team is known for. We have helped shape the industry by providing innovative business services and bundled packages that have evolved alongside the needs of our customers.
Our clients have access to free support from an expert team. We are always on standby to help. If you need assistance at any point before, during, and after the registration of your LLP, you will be able to reach us by telephone or email.
You are truly experienced in Company Registrations. Keep it up!Ram Kumar Chilukuri Director, Anewa Engineering Pvt Ltd
Thanks for your continuous support. God bless you!Nrupesh CFO, Blujay Solutions Private Limited
Thank you CompaniesHouse for saving in Income Tax!Avtar Singh Managing Partner, Chetak Transporters
We are surprised to get our Company registered in one day. Thanks.Mohammed Fasiuddin Director, Avidus Engineering Pvt Ltd
Thank you for the initial discussion as we choose best business format!Lakshmi Keerthi Reddy Director, Lavanar Sea Food Farming Private Limited
Thank you CompaniesHouse for reminding on timely statutory compliance!Rambabu Director, Cybervillage Solutions Pvt ltd
Get Certificate, DPINs, DSCs, LLP Agreement, PAN, TAN, GST, MSME, IEC, Bank A/c support & GST Software along with your LLPIN.
Congratulations!! on registering your new Limited Liability Business Venture. Most of the enterprenuers do not know what next once the LLP is registered. You can find below the other mandatory registratons and statutory compliance requirements of an LLP.
GST registration is Mandatory if you are a Taxable dealer in sale of Goods or supply of Services.
Import Export Code (IEC) is required to be taken if you deal in Import or Export of Goods of Services.
If your business deals in Food, Catering, Hotel & Restaurant, you need to apply for Food License with Food Safety and Standards Authority of India.
If you want to protect your business name, brand, literary work, invention, you need to apply for Trade Mark, Copyright, Patent respectively with the department of Intellectural Properties of India.
Professional Tax is Mandatory for the lLPs registered in India. For all states it is not mandatory and infact only for 17 states it is mandatory.
Shops & Establishments registration is mandatory to register with the concerned State Labour Department.
To avail the benefits under The Ministry of Micro, Small & Medium Enterprenuers Act, it is mandatory to get registered under this Act.
The new LLP has to apply for Local Trade License with the Local Municipality or Municipal Corporation.
To gain the benefits under Startup India scheme, an LLP is required to take this license from The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Govt of India.
The LLP which is into mining business has to take Mining License. This is mandatory requirement for a Mining Company.
If your LLP is covered under PF Act, you need to get the PF Registration. You can apply it through ShramSuvidha portal and get the registration easily.
If your LLP is covered under ESI Act, you need to get the ESI Registration. You can apply it through ShramSuvidha portal and get the registration easily.
If your business is into manufacturing and dealing in pharmaceuticals, you need to get Drug License from the respective State Drug Controller office.
If your business is into chitfund, you need to take Chit Registrar permission from the respective District Chit Registrar.
LLP Agreement is required to be filed in eForm 3 with the Ministry of Corporate Affairs with in 30 days of Incorporation otherwise a penalty of Rs. 100 per day will be imposed.
If LLP's Turnover exceeds Rs. 40 lakhs in an year or Capital Contribution exceeds Rs. 25 lakhs, it has to appoint an Auditor on or before the due date.
Every Designated Partner who has been allotted DPIN on or before the end of the financial year, and whose DPIN status is 'Approved', would be mandatorily required to file form DIR-3 KYC before 30th April of the immediately next financial year. Failure to file attracts a penalty of Rs. 5,000/- per Designated Partner and his/her DPIN will be deactivated by the MCA.
Every LLP has to file a report called it's Statement of Account & Solvency in Form 8 with MCA or or before 30th day of October of next financial year otherwise a penalty of Rs. 100 per day will be imposed.
Every LLP has to file it's Annual Return in Form 11 on or before 30th day of May of next financial year otherwise a penalty of Rs. 100 per day will be imposed.
Every LLP has to file it's Income Tax Return in form ITR-5 on or before 31st day of July of each year and an LLP which is subject to Tax Audit may file it on or before 30th day of September of each year.
Every LLP which is subject to file TDS returns has to file it with in Due date to avoid penalty.
Every LLP has to file it's Monthly PT Return with in due date to avoid penalties.
Any LLP which subject to file GST returns on QRMS basis has to file with in due date to avoid penalties.
DPIN stands for Designated Partners Identification Number. Every Designated Partner of the LLP will get this unique DPIN subsequent upon the LLP Incorporation. With this DPIN, he/she can register any number of companies.
A DPIN holder has to file his KYC with MCA every year on or before 30th day of September otherwise a penalty of Rs. 5000/- will be imposed.
DSC stands for Digital Signature Certificate. Class-III Digital Signature Certificate is required for one of the Designated Partners while registering his/her LLP.
There are different companies who issue Class-III DSCs. These companies are called DSC Certifying Authorities. We have associated with eMudhra Tamil Nadu. eMudhra is one of the largest Digital Signature Certifying Authority in India.
An investment made by designated partners into the LLP is called Capital Contribution.
A LLPIN is a Certificate of Incorporation of LLP and it is called as LLP Identification Number.
We can treat it as the LLP registration number.
If we apply direct incorporation without applying for Certificate of Name Availability, it may take 3 to 5 working days. Some times, it may be incorporated even in one day.
But it is advisable to apply first LLP name and then incorporation and in this case it may take 10 to 15 days.
For one lakh capital contribution, the total government fee including Digital Signature Certificates would be approximately Rs. 4,000/-.
CompaniesHouse is authorised by the Ministry of Corporate Affairs to provide llp registration service throughout India at an affordable cost of Rs. 1,999/-.
Yes, you can start a LLP from your home address too.
No, you can not register LLP on your own as Professionals like Company Secretary/Chartered Accountant has to sign digitally along with a Designated Partner on the application forms, then only your LLP will be registered.
With Rs. 2, you can start LLP.
Get Certificate, DPINs, DSCs, LLP Agreement, PAN, TAN, GST, MSME, Bank A/c & GST Software along with your LLPIN.