- Separate Legal Entity
- Easily Transferability
- Uninterrupted Existence
- Not Required Audit
- Property Owning
- Start without any contribution
- Not limit of business owner
- Low cost registration
Limited Liability Partnership
What is Limited Liability PartnershipLLP introduce in India Under Limited Liability Partnership Act, 2008 It is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities . In an LLP company registration, each partner is not responsible or liable for another partner's misconduct or negligence. In which each partner has joint and several liability. And, LLP or LLP Certificate Registration Online, some or all partners have a form of limited liability partnership online similar to that of the shareholders of a corporation. Unlike corporate shareholders, the partners have the right to manage the business directly In contrast, corporate shareholders must elect a board of directors under the laws of various state charters. The board organizes itself (also under the laws of the various state charters) and hires corporate officers who then have as "corporate" individuals the legal responsibility to manage the corporation in the corporation's best interest. A LLP Certificate Registration Online also contains a different level of tax liability from that of a corporation.
Document and Details Requirement
- KYC (Identity and Address proof) of all Partner
- Email id and Contact details
- Business Address Proof (Electric Bill, Telephone Bill, Water bill) [If premises on rented then need rent agreement also]
- Nature of Business.
- Name approval (first two changes FOC and after that 1000 per next chance and in one chance you can give two name only)
- After the successfully name approval your process has been start and it take 7- 10 working days for your process
- After then you received LLP Agreement from Tax Hint India and you just notarized on same document and revert us
- And that wait 5-6 working days. And You LLP registered under MCA..
Reasons of LLP Registration:-The Limited Liability Partnership registration in India has seen increasing trend due to the following reason:-
- Increase in awareness among to the small business regarding concept of LLP.
- It is very easy to Start & Manage or Control.
- It is provides benefit of limited liability as well as flexibility organize their firm internally.
- LLP does not have to the organize Board meeting/ annual meeting and unlike private Limited company.
- Fewer documents & less burdensome is the process for registration of Limited Liability Partnership as compared to the Private Limited Company.
- LLP does not have to pay dividend distribution tax or DDT which is 15%( surcharge and educational cases) for the Private Limited Company.