Limited Liability Partnership
The Startup culture in India is booming to the new heights every single day, where we can see the new entrepreneurs are entering into the corporate world & waiting to soar their successes. Now it becomes crucial to understand the best business structure for your organization, while there are many options in the market like sole proprietorship, private limited company, and Limited liability partnerships (LLPs).
Consider choosing for Limited liability Partnership, because LLP offers a more simplistic approach for the structure of a company. The registration for an LLP is one of the easiest processes to build up your business.
How long does it take?
Legally Own Your Company in Just 15 Days!!
Step 1 : Digital Signature Certificate
1 Working Days : The Digital Version of Physical Certificates, DSC acts as a virtual seal that authenticates your companyâs identity electronically. The Cryptographic Technology used to create unique Digital Signatures helps keep all your critical and sensitive documents safe.
Step 2 : Director Identification Number
1 Working Days :Aspire to be appointed as a Designated Partner in a LLP? Then DPIN is a must. This identification number with a lifetime validity has all the details of the designated partners maintained in a database, safeguarding the interest of the company.
Step 3 : Name Approval
Upto 5 Working Days : Everybody wants to give their company an unique identity and a unique name is the foremost priority for the same, which has to be approved by MCA to ensure that the proposed name is not in use by any other companies.
Step 4 : Incorporation of Documents
Upto 8 Working Days :Incorporation Documents like Memorandum of Association(MOA) and Article of Association(AOA) needs to be approved and verified by the government for smooth functioning of the company. Simultaneously, we @Compregi apply for PAN and TAN of your company.
Documents Required for a Limited Liability Partnership Registration
1ID Proof
Scanned copies of
- PAN CardÂ
- Aadhar Card
- Voter ID
- Passport
- Driving License
of all the directors of the company are needed.
Address Proof
Bank Statement/Utility bill in the name of the Director, not older than 2 months.
Photograph
Latest Passport size photograph.
Registered Office Proof
-No Objection Certificate(NOC) from the owner.
-Utility bill(not older than 2 months).Â
-Notarized rent agreement,in case of rented property, or, registry proof, in case of owned property.
What Do You Get
DSC
Virtual Seal for all the designated partners to sign the documents.
DPIN
Lifetime validity DPIN to safeguard the interest of the company.
Memorandum of Association
Ensures the existence of the company by defining rules and objectives of the business.
Articles of Association
Ensures the existence of the company by defining rules and objectives of the business.
PAN Card
Companyâs Personal Account Number to open a bank account.
TAN Number
Essential 10 digit alpha-numeric number for tax compliance mechanism under Indian Laws.
Incorporation Certificate
Bears all the details of the company setting it a legal separate entity.
Limited Liability Partnership Registration Cost
We at Compregi believe in complete transparency in the complete registration process of your company. Below mentioned cost structure includes all the necessary government fees required at multiple stages of registration.
| FEATURES |
StartUp Rs. 5,999/- |
Professional Rs. 9,999/- |
Enterprise Rs. 17,999/- |
| Registration | |||
| Company Registration | â | â | â |
| Company's PAN | â | â | â |
| Company's TAN | â | â | â |
| EPFO Registration | â | â | â |
| ESIC Registration | â | â | â |
| GST Registration | x | â | â |
| UDHYAM (MSME) Registration | x | â | â |
| Physical Kit | |||
| Digital Signture | â | â | â |
| Company's Document File | â | â | â |
| Letter for Bank Account | â | â | â |
| Company's Stamp | x | â | â |
| Framed Certificate | x | â | â |
| Professional Letter Heads | x | 25 | 50 |
| Professional Visiting Cards | x | x | â |
| Compliance | |||
| Director's ITR Filing | â | â | â |
| GST Return Filing | x | 3 Months | 12 Months |
| Auditor Appointment | x | â | â |
| DIR -3 KYC | x | x | â |
| INC -20 Form Filing | x | x | â |
| ROC Return Filing | x | x | â |
| Company's ITR Filing | x | x | â |
| EPFO Return Filing | x | x | â |
| ESIC Return Filing | x | x | â |
| Consultation | |||
| Company's Name Search | â | â | â |
| Website Domain Search | â | â | â |
| Website/App. Development | â | â | â |
| Brand Logo Design | â | â | â |
| Social Media Marketing | x | â | â |
| Trademark Registration | x | â | â |
| Payment Gateway | x | â | â |
| Drafting Legal Documents | x | x | â |
| Legal Retainership | x | x | â |
| CHOOSE PLAN | CHOOSE PLAN | CHOOSE PLAN |
ONE PERSON COMPANY
âđ
4999/-
- Free Consultancy
- Free Search Check
- Preview before Filing
LIMITED LIABILITY PARTNERSHIP
âđ
4999/-
- Free Consultancy
- Free Search Check
- Preview before Filing
- 100% Peace of Mind
SECTOR 8 COMAPANY (NGO)
âđ
5999/-
- Free Consultancy
- Free Search Check
- Preview before Filing
Meaning of âLimited Liability Partnershipâ or âLLPâ
A Limited Liability Partnership (LLP) is a business structure that combines both the features of partnership and a corporation for an entity. It offers flexibility in the partnership where partners ( two or more individuals) who are running the same business can register their entity as an LLP.Â
LLP structure is one of the best options for upcoming entrepreneurs & startups who are in the initial days of their business.The Registration process for an LLP is more Simple & Easy compared to registering for Pvt ltd company.
To register your LLP fast and follow all the government compliances in India you need to get a handful of help from us.
What are the Advantages of an LLP ?
There are several advantages of registering an LLP:
What are the Disadvantages of an LLP ?
There are several disadvantages of registering an LLP:
What is the LLP Registration Process in India?
There are some important documents which you’ll need to file for LLP registration:
Identity Verification:
For Identity verification you need to submit copies of essential documents:
Passport Photo:
Submit your passport size color photograph between 2 to 3 to attach them in your documents.
Registered Office Address:
Submit the documents like utility bill of previous month or registry which contains the current address of your office from where you are operating the business.
Address Proof:
Submit your address proof documents Like bank statements or utility bills.
What is the LLP Registration Process in India?
Registration of an LLP in India requires some procedures which you have to complete according to the Ministry of Corporate Affairs (MCA).
Online Registration (SPICE+ Form):
- Once you have the above documents in place, you can proceed with online registration using the SPICE+ form available on the MCA portal. This form captures all the information required to register your LLP, including:
- LLP name and address
- Details of partners (DIN, PAN)
- Business activities
- Contribution of capital by partners
- Appointment of designated partners
Document Submission and Scrutiny:
- Along with the SPICE+ form, you’ll need to upload scanned copies of the following documents:
- DSCs of designated partners
- LLP Agreement
- Identity and address proof of partners
- PAN application for the LLP
- The MCA will check the submitted documents and may raise queries if any information is missing or needs clarification from you. You’ll be required to address these queries and resubmit the form within a given timeframe.
Certificate of Incorporation (COI):
After your successful registration and approval from the MCA, you’ll receive the Certificate of Incorporation (COI).
Obtaining PAN and TAN:
- You can apply for the LLP’s Permanent Account Number (PAN) during the SPICE+ form filling stage. PAN is a mandatory requirement for filing income tax returns.
- You can also apply for the Tax Deduction and Collection Account Number (TAN) after receiving the COI. TAN is required if your LLP deducts tax at source (TDS) on certain payments.
Know about LLP Compliance
There are some LLP compliances which you need to maintain with the government regularly. It helps you to stay legal and stand with government orders.Â
Once registered, an LLP you need to adhere to ongoing compliances. These can be broadly categorized into two areas:
A. Registrar of Companies (ROC) compliances:
Annual Return (Form LLP-3): You need to file this within 60 days of the Annual General Meeting (AGM), detailing the LLP's share capital, partners, and management.
Statement of Account and Solvency (Form LLP-4): This audited financial statement you need to file within 30 days of the AGM. (Applicability depends on turnover and partner contribution)
Meeting Related:You need to conduct a minimum of two Board Meetings in a year with a gap of not more than six months between them. Hold an AGM within a year from the previous AGM or within 18 months of incorporation.
B. Tax Compliances:
Income Tax Return (ITR): You need to file the LLP's income tax return annually within the due date based on the financial year.
Goods and Services Tax (GST) Returns: You have to regularly file GST returns depending on your LLP's turnover.
Tax Deducted at Source (TDS): You need to deduct and deposit TDS on various payments like salaries, professional fees, etc.
Professional Tax (PT): You have to pay (PT) as applicable in your state where the LLP operates.
Why Choose Compregi?
Our experts and professionals at CompRegi offer a cost-effective service of assisting you with the Limited Liability partnership (LLP)Â Registration process in a simplified manner, where we manage all the legal formalities, and ensure adherence to the MCA regulations. We believe in complete transparency in all the processes and keep you updated while handling all the legal formalities.
FAQs
How much time does it take to register an LLP in India?
The timeframe for registering an LLP in India can vary depending on several factors, but typically it ranges from 10-18 working days. This depends state to state and if there are no government holidays in the week, so there will be less delays.
LLP vs Pvt Ltd company in India: Which is better?
Choosing between an LLP and a Pvt Ltd company in India depends on your specific business needs and goals.
But Pvt ltd company registration is more complicated compared to LLP registration.
Is LLP suitable for startups in India?
Yes, LLPs are generally considered a very suitable structure for your startup. LLPs offer a compelling combination of limited liability protection, flexibility, tax benefits, and a simpler formation process.