PThe timeframe to register your LLP typically ranges from 15 to 20 working days, subject to the submission of complete documents and approvals from regulatory authorities.
Registration Fee
₹18,999/-/ Excl
GST
* T&C Apply
- Name Approval
- Obtain Digital Signature Certificate (DSC)
- Incorporation of LLP
- File Limited Liability Partnership (LLP) Agreement
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About Limited Liability Partnership
(LLP)
A Limited Liability Partnership is a corporate business structure that offers its members the benefit of limited liability, just like a company. It allows partners to manage internal affairs based on mutually agreed-upon terms, similar to a partnership firm. Partners have limited liabilities for any future debts incurred in the course of running the business. An LLP combines features of both a corporate structure and a partnership firm, making it a hybrid entity that provides the best of both worlds. Partners are required to contribute to the LLP as specified in the LLP Agreement, and their contributions can take various forms, such as tangible or intangible assets, movable or immovable property, money, and cash. In an LLP, the LLP itself is liable for any losses or debts incurred in business operations, which means individual members of the LLP are not personally responsible for such financial obligations.
Document Details Required For LLP
- Proposed Name of the LLP
- Proposed object clause of LLP
- Details of the Partners
- PAN card
- Aadhar card
- Mob Number
- Email ID
- Photo
- Digital signature
- DIN( if already issued)
- Bank statement having full address (Address Proof)-Not older than 2 months
- Nearest police station
- Educational Qualification
- Driving License / Voters id/Pass port (Identity Proof)
- Duration of stay in the given address
- Designation(Partner/ designated partner)
- Documents for Registered office
- Rental Agreement between LLP and Landlord
- NOC from Landlord
- Building tax receipt
- Electricity Bill (Having the address of the registered oice and name of the building owner)-Not Older Than 2 Months
- Contribution details of each partners
Registration Procedures
To reserve a unique name for your LLP, file a RUN-LLP application with the ROC after checking for similar names on the MCA portal and trademark registry. Ensure the proposed name is not undesirable to the Central Government and doesn’t resemble existing entities or trademarks. Resubmission is allowed within 15 days for rectifying defects. You can propose up to 2 names, and LLP incorporation must follow within 3 months of name approval.
Before registering with your Limited Liability Partnership (LLP), designated partners must apply for digital signatures. All LLP documents are filed online and require digital signatures for authentication. Designated partners must obtain their digital signature certificates (DSC) from government-recognized certifying agencies. Costs for DSC acquisition vary among agencies. Class 3 category DSCs are necessary for LLP registration.
The FILLIP (Form for Incorporation of Limited Liability Partnership) is used for LLP incorporation and is filed with the Registrar having jurisdiction over the LLP’s proposed registered office. This integrated form requires payment of fees. It also facilitates applying for DPIN allotment if a designated partner lacks DPIN or DIN, limited to two individuals. Additionally, FILLIP allows for name reservation application. If the applied name is approved, it’s filled as the proposed name of the LLP in the form
The LLP agreement dictates the mutual rights and duties among partners and between the LLP and its partners. It must be filed online on the MCA Portal using Form 3 within 30 days of incorporation. Additionally, the LLP agreement must be printed on Stamp Paper, the value of which varies by state.
Frequently Asked Questions
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How long does it take to register an LLP in India?
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Can an existing partnership firm be converted to LLP?
Yes, an existing partnership firm can be converted into an LLP by following the procedure laid out in the LLP Act, 2008, which includes filing the necessary forms and documents with the Registrar of Companies (RoC)
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Is annual return mandatory for LLP
The ‘Annual Return’ is required to be filed within 60 days of close of the financial year and ‘Statement of Accounts & Solvency’ shall be filed within 30 days from the end of six months of the financial year to which it relates. Every LLP has to maintain uniform financial year ending on 31st March of a year.
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Is audit compulsory for LLP?
No, a statutory audit is not mandatory for all LLPs. Only those LLPs whose turnover is over Rs. 40 lakhs or whose contribution exceeds Rs 25 lakhs in a given financial year must undergo a statutory audit.
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What is the income tax slab for LLP?
An LLP should pay a 30% fixed rate tax on its total income
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How many partners can be there in LLP?
Minimum two partners are required to incorporate an LLP. Among the partners, there should be a minimum of two designated partners who must be natural persons, and at least one of them should be resident in India.
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Can LLP reduce its capital?
If the LLP needs to decrease the capital contribution of the partners, then it should file and submit Form 3 to the Registrar. The LLP is required to pay the regular filing fee
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What is the due date for an LLP income tax return?
Every LLP must file an income tax return each year. Every year, the deadline for filing ITR for LLP return is 31 July. On the other hand, any LLP subject to a tax audit must file its income tax return by 30 September.
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What is DIN?
DIN or Director Identification Number is a unique eight-digit identification number assigned by the Central Government of India to any individual intending to be a director or an existing director of a company
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What is the difference between LLP and private company?
The partners are the LLP owners and manage the LLP business. A partner in an LLP is a manager and an owner, while in a Pvt Ltd company, the owners, i.e. shareholders, do not have managerial powers. In a Pvt Ltd company, the
management is different from the owners. The board of directors manage the company business