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Professional Fees for Limited Liability Partnership

Name Filing

799/- 499/-

  • Name Availability Search
  • Drafting of Main Object
  • Selection of NIC 2008 Code
  • Option to Provide Two Name Preferences
  • Filing of RUN Form
  • Response to Up to Two Resubmissions
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Standard

9999/- 7999/-

  • All of Name Approval Pack +
  • DSC & DIN for two persons
  • Incorporation Document Drafting
  • Filing of FILLIP Form
  • Incorporation Certificate
  • LLP e-Pan & e-Tan
  • LLP Agreement Drafting
  • Filing of Form-3
Avail Now

Elite All-in-One Plan

17999/- 14999/-

  • All of Standard Pack +
  • GST Registration
  • MSME Udyam Registration
  • Import Export Code
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Advantages of a Limited Liability Partnership

Important Information Regarding Limited Liability Partnership

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 the name of its partners.LLP may have partners varying from 2 to many. There is no limit for partners in LLP.
Perpetual Succession
An incorporated LLP has perpetual succession. Notwithstanding any changes in the partners of the LLP, the LLP will be a same entity with the same privileges, immunities, estates and possessions. The LLP shall continue to exist till its wound up in accordance with the provisions of the relevant law.LLP allows it to continue with its business regardless of possible partner change.
Taxation
Another main benefit of incorporation is the taxation of a LLP are also not subject to Dividend Distribution Tax as compared to company, so there will not be any tax while you distribute profit to your partners.A partner can claim deduction for remuneration and interest on capital provided by them to the LLP while arriving at the taxable income for the Limited Liability Partnership. 
Limited Liability
A 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. Any business with potential for lawsuits should consider incorporation; it will offer an added layer of protection.
Savings from lower compliance
LLP have to face less compliance burden as they have to submit only two statements i.e. the Annual Return & Statement of Accounts and Solvency. Whereas in the case of private company, at Least 8 to 10 regulatory formalities and compliances are required to be duly completed. Read Annual Cost Comparison of Private Limited and LLP.
Minimum Capital
There is no minimum capital requirement in LLP. And LLP can be formed with the least possible capital. Moreover, the contribution of a partner can consist of tangible, movable or immovable or intangible property or other benefits to the LLP. A Limited Liability Partnership can be registered even with Rs. 1000 as total capital contribution.

Documents Required for Limited Liability Partnership

Quick Checklist

1. Photo & Identity Proof of all partners


2. Address Proof of Partners


3. PAN Card of Each Parnters


4. Electricity Bill or any other utility bill for the address proof of the Registered Office
Specific Requirements

 An Limited Liability Partnership must have a registered office in India.

Documents like bank statement or electricity bill should not be older than 2 months. Along with that utility bill, rent agreement or sale deed and a No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of an LLP must be submitted.

Legal forms & Declaration

1. Consent of parnters in Form 9 


2. Subscriber sheet for LLP incorporation


3. PAN card application form


4. TAN card application form

Registration of a Limited Liability Partnership

1


Obtain DSC

2


Reserve Your LLP Name

3


Filling Form For LLP

4


Incorporation Of LLP

5


Filling Of LLP Agreement

6


Obtain PAN And TAN

Government Fees for LLP Registration

The Government Fees for registering a Limited Liability Partnership (LLP) are as follows:

LLP with capital contribution up to ₹1 lakh – ₹500

LLP with capital contribution between ₹1 lakh and ₹5 lakhs – ₹2,000

LLP with capital contribution between ₹5 lakhs and ₹10 lakhs – ₹4,000

LLP with capital contribution above ₹10 lakhs – ₹5,000

Note: Additional charges apply, including DIN application fees, stamp duties, and LLP form filing fees


Stamp Duty & Notary Attestation for LLP Agreement

Once the LLP is incorporated, the partners must execute an agreement defining capital contributions, profit-sharing ratios, and other key terms. This agreement must be prepared on stamp paper of the appropriate value, based on the LLP’s capital and registered state.

While we generally do not assist with notary and stamping, we offer paid support if the LLP’s registered office and all partners are located in cities where we have offices. In such cases, we can facilitate the purchase of stamp paper and notarization for an additional professional fee of ₹2,500, plus actual costs incurred.

Checklist to Start a Limited Liability Partnership

Minimum Two Partner of LLP
Register your Limited Liability Partnership (LLP) with a minimum of two persons to act as the initial designated partner in the new LLP. However, there is no cap on the maximum number of partners in the LLP.
One Resident Designated Partner
One of the Designated Partners of the LLP should be a resident in India. A Person is considered a resident when he or she stays in India for over 182 days during the previous financial year.
Registered Address Proof
The LLP needs an address for its incorporation; we require proof of the registered address in the form of a utility bill not older than two months and the NOC from the owner of the registered address owner.
Capital Requirement
The LLP Act, 2008 does not prescribe any minimum or maximum capital as such; hence you may keep the capital/contribution of the LLP as per the business requirement of the LLP.
New Name of the Proposed LLP

The name of the proposed new LLP must be unique and eligible, and you have to ensure that the proposed name of the LLP is not the same or similar to an already existing LLP, Company or Trademark.

Form 3 CEB for LLP
Form should be certified by a practicing Chartered Accountant. Limited Liability Partnerships which are required to file this Form can do their tax filing by the 30th of November.

FAQ On Limited Liability Partnership

FAQs On LLP Formation

Get answers to all your queries

  • What are the benefits of LLP registration for Small Businesses ?

    An LLP is the most suitable structure for small businesses in India, as there are fewer regulations to comply with. For instance, auditing its account books is optional until the turnover exceeds 40 Lac or the capital exceeds 25 Lac.

  • Can an existing partnership firm be converted to LLP?

    Yes, an existing partnership firm can be converted into LLP by complying with the Provisions of the LLP Act.

  • I wish to start my business but I am confused between Private Limited Company and LLP, what should I select?

    Pvt. Ltd. Co. and LLP have a lot of similarities yet they both are different in many of its characteristics and structures. When you wish to start your business, there are many factors that one needs to think upon before selecting any business structures.

  • Can an existing company be converted to LLP?

    Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provisions of the LLP Act.

  • Can LLP give any other address (besides its registered office) for the purpose of receiving communication from Registrar?

    LLP shall have an option to declare one more address within the jurisdiction of same ROC (other than the registered office) for getting statutory notices/letters etc. from Registrar.

  • What is the basic difference between a Limited Liability Partnership and a
    General Partnership?

    A Limited Liability Partnership is a legal entity separate from its partners and therefore, offers limited liability to its partners whereby any debts and obligations of the LLP will be borne by the assets of the LLP. In the case of a conventional partnership, the partners are jointly and severally liable for each debt and obligation of the partnership firm.

  • How can a person become a partner of an LLP?

    Persons, who subscribed to the “Incorporation Document” at the time of incorporation of LLP, shall be partners of LLP. Subsequent to incorporation, new partners can be admitted to the LLP as per conditions and requirements of LLP Agreement.

  • Whether any Annual Return would be required to be filed by an LLP?

    Every LLP would be required to file Annual Return with ROC. A duly authenticated Annual Return in e- Form 11, is to be filed with the Registrar, together with the prescribed fee, within a period of 60 days from the closure of every financial year.

  • What are the documents required to be filed by a LLP annually?

    LLP is required to file LLP annual return as follows:

    LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually. 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.

  • How can I apply for reserving LLP Name?

    File LLP Form No. 1 (Application for reservation or change of name) by logging on to the LLP portal along with the fee prescribed and attaching the digital signature of the designated partner proposing to incorporate a LLP.

  • Still, have confusion?

    Don’t worry!! Our expert will help you to choose a best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at newtaxage@gmail.com

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