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START MY LIMITED LIABILITY PARTNERSHIP IN JUST Rs.2499+GOVT FEES

START MY LIMITED LIABILITY PARTNERSHIP

A Limited liability Partnership (LLP) is a new form of business introduced in the year 2009, this is a unique form of business in the sense that it has simplicity of a partnership firm and benefits of limited liability as in a limited corporation. Minimum two person can form an LLP with no maximum limit on the number of its partners. Limited Liability Partnership (LLP) is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership business, For small LLP the audit Is not required and the compliance is based on the information declared by the partners. The advantage of llp form of business over a private limited is in the fact that there is less compliance requirement in comparison to a private limited company. For instance audit is not required till the time turnover reaches 40 lac or capital reached Rs. 25 lac. This is preferred choice for small businesses with less capital.

Payment Plan

ADVANTAGE OF LIMITED LIABILITY PARTNERSHIP

iconLiability Protection

In general partnerships, each participant is personally responsible for the actions of the company. This includes debts, liabilities and the wrongful acts of other partners. One advantage of a limited liability partnership is the liability protection it affords. This type of partnership structure protects individual partners “from personal liability for negligent acts of other partners or employees not under their direct control,” states the SBA. In addition, individual partners are not personally responsible for company debts or other obligations. This is advantageous for an individual partner when potential lawsuits or claims of negligence against the business are concerned.

iconTax Advantages

Individuals in a partnership are normally liable for filing personal income taxes, self-employment taxes and estimated taxes for themselves, according to the Internal Revenue Service. The partnership itself is not responsible for paying taxes. The credits and deductions of the company are passed through to partners to file on their individual tax returns. Credits and deductions are divided by the percentage of individual interest each partner has in the company. This can be beneficial for partners who have a limited interest in the company or special tax requirements due to their interests in other businesses.

iconFlexibility

Limited liability partnerships offer participants flexibility in business ownership. Partners have the authority to decide how they will individually contribute to business operations. Managerial duties can be divided equally or separated based on the experience of each partner. In addition, partners who have a financial interest in the company can elect to not have any authority over business decisions but still maintain ownership rights based on their percentage interest in the company. Flexibility in business operations can become a disadvantage when partners make decisions based on personal interests and not the interest of the partnership as a whole.

DOCUMENTS REQUIRED

We will require following documents

  • Copy of PAN card of all Designated Partners
  • Copy of Address proof ( Voter Id / Passport / Driving License) all Designated Partners
  • Passport size photo of all Designated Partners
  • Latest Electricity Bill/ telephone bill or Rent agreement with NOC of Owner of Business Premises
  • Latest Bank Statement of all Designated Partners

WHAT WILL BE PROVIDED

  • Digital Signature (E-token) with 2 Year validity
  • Name Approval Certificate from MCA
  • DIN of (2) Desinated Partners
  • LLP Registration Certificate
  • PAN Card
  • LLP AGREEMENT

PROCESS

  • Limited Liability Registration will take a Time Of 15-20 Days Subject To Roc Processing Time
  • Obtaining Digital Signature Certificate (DSC) of one designated partner with two year validity. It will take 2 working days
  • Get Director Identification Number (DIN) of minimum two designated partner from MCA wil require one working days.
  • Submit the form for NAME APPROVAL at MCA with one to Three proposed names and require 4 working days subject to ROC processing time.
  • Submit the final LLP REGISTRATION document at MCA and it will take 7 working days subject to ROC processing time.
  • In last submit the LLP Agreement with ROC it will take at least 3-4 working days subject to ROC processing time.

FILE YOUR INCOME TAX RETURN - Start from Rs 499 *

Company Registration & GST Registration

Company Registration & GST Registration