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Get Limited Liability Partnership (LLP) Registration within 7 days

Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a Partnership. A Limited Liability Partnership combines the advantages of both the Company and Partnership into a single form of organization and one partner is not responsible or liable for another partner’s misconduct or negligence. It is very easy to do LLP Registration in Pune , as the process is very simple as compared to Companies and does not involve much formality. A LLP is indeed advantageous because of comparatively lower cost of formation, lesser compliance requirements, easy to manage and run, partners are not liable for the acts of the other partners.

Advantages of Limited Liability Partnership

It’s quick and easy to get started

It’s now very easy to start Limited Liability Partnership and it can all be done online. Now you can start a Limited Liability Partnership in few days. What’s more, the cost of incorporation is an allowable expense against corporation tax.

Limited Liability

A Limited Liability Partnership (LLP) exists as a separate legal entity from your personal life. Both LLP and person, who own it, are separate entities and both functions separately. Liability for repayment of debts and lawsuits incurred by the LLP lies on it and not the owner.

Easy transfer of ownership

It is easy to become a Partner with minimum number of documents or leave the LLP or otherwise it is easier to transfer the ownership in accordance with the terms of the LLP Agreement.

Body Corporate

Just like a Company, LLP is also body corporate, which means it has its own existence as compared to Partnership. LLP and its Partners are distinct entity in the eyes of law. LLP will know by its own name and not by the name of its partners.

Taxation Aspect on LLP

For income tax purpose, LLP is treated on a par with partnership firms. Thus, LLP is liable for payment of income tax and share of its partners in LLP is not liable to tax. Thus no dividend distribution tax is payable.

Raising Money

Financing a small business like Sole Proprietorship or Partnership can be difficult at times. A LLP being a regulated entity like Company can attract finance from Investors, financial institutions etc.

What Your LLP Agreement Contains

  • Basic information about all partners , addresses and type of business
  • Amount of capital introduced in LLP
  • Profit and Loss sharing ratio of Partners
  • Details of scope of business to be carried by LLP
  • Description like adding new partner or retirement of partner

Documents Required for LLP Registration

ID and Address Proof of Partners like

Pan Card / Passport / Voter ID / Aadhar Card/Driving License Copy of the Partners.

One Business Place Address proof:

If Property on Rented: Rent Agreement and NOC from Landlord is required.

If Property is own: Electricity Bills or Index II is sufficient.

Note :  Business place and home place can be same of the Partner

What We Offer - LLP Registration

We are Chartered Accountant firm in Pune, Our dedicated team of professionals consist of advocate, CA and CS. We assist you in choosing right business mode for maximizing profit and minimizing tax implications. We advise on LLP Registration in Pune India simultaneously providing for LLP registration process in Pune.

  • Advise on choosing the most suitable business option
  • Advise on profit and loss sharing and tax implication
  • Preparation of legal documents
  • Preparation of LLP agreement
  • Making application to Minister of Corporate Affairs
  • Taking registration certificate
  • Registration of Business
  • Tax Registration
  • Loan Approval
  • Tax filing and Planning

Limited Liability Partnership (LLP) Registration Process

Digital Signature DPIN Application Name Approval Incorporation Start Business
DSC is required for Proposed Partners. An application shall be made for opting Designated Partners Identificatoin No. (DPIN) Making Application for Proposed Name of LLP from Option given by directors Submission of documents to MCA with Consent Letter , Partnership Deed and supporting documents. And follow up for certificate. Once incorporated,  can commence business ,Apply PAN, Open bank account.

FAQ -Limited Liability Partnership (LLP) Registration

What is a Limited Liability Partnership?

A LLP is a new form of legal business entity with limited liability. It is an alternative corporate business vehicle that gives the benefits of limited liability but allows its partners the flexibility of organizing their internal structure as a traditional partnership. The LLP is a separate legal entity and, while the LLP itself will be liable for the full extent of its assets, the liability of the partners will be limited.

What is minimum number of partners required in LLP?

At least two partners required to register a LLP

Can a minor be appointed as a Partner in a LLP?

The Designated Partners needs to be over 18 years of age and must be a natural person. Even foreign nationals can be appointed as a Partner with the approval for Foreign Contribution Promotional Board.

What is the time frame for registering my LLP?

We can register a LLP within 7 to 8 days of time. But the documents submitted should be as per our requirements and also within time. If there is any delay in submitting the documents the mentioned time frame may change.

We help in LLP Registration