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Limited Liability Partnership

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Limited Liability Partnership

What is Limited Liability Partnership

LLP 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.

What is benefits on LLP ?

  • Separate Legal Entity
  • Easily Transferability
  • Uninterrupted Existence
  • Not Required Audit
  • Property Owning
  • Start without any contribution
  • Not limit of business owner
  • Low cost registration
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..

What you received after the registration

LLP Certificate Digital Signature DIN/p>

Pricing :-

Rs. 5999/* only
Include Package:- Name Approval DSC DIN COI PAN and TAN LLP Agrement
Advance Basic :-
Rs. 10999/* only
Include Package:- Name Approval DSC & DIN & COI PAN and TAN LLP Agrement GST registration and GST Return Annual filling & ITR
Premium :-
Rs. 16999/* only
Include Package:- Name Approval DSC & DIN & COI PAN and TAN LLP Agrement GST registration and GST Return Annual filling & ITR
Advantage of Limited  liability Partnership
  •   Easy to form
  •   Liability
  •   Perpetual succession
  •   Management of the company
  •   Easy transferability of ownership
  •   Taxation Aspect on LLP
  •   No compulsory audit required
  •   (DDT) not applicable
  •   Lower Registration Cost

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.

Why Choose a Limited  liability Partnership ?

  •   Professional service businesses. Limited liability partnerships online or LLPs can only created by
  • certain types of professional service businesses, such as dentists, accountants, architects, attorneys,
  • doctors, and other fields treated as the professionals under each state’s law.
  •   Personal asset protection. The personal assets of the partners in an LLP company registration
  • typically can’t used to satisfy business debts and liabilities. The Limited liability partners online or LLP does
  • not shield the partners for the liability for their personal acts. Put simply, LLP Certificate Registration
  • Online can’t limit the liability of owners for own malpractice.

Frequently asked questions :-

Q1. What is the minimum requirement for number of partners to form an LLP?
Ans:- ANS: At least 2 partners are required to form an Limited Liability Partnership.
Q2. Under which act of parliament an LLP is formed and governed?
Ans:- LLP is formed and governed by LLP Act, 2008.
Q3. What is the maximum limit for number of partners in an LLP?
Ans:-There are 200 maximum limit for number of partners in an LLP.  
Q4. What are the Tax Policies for an LLP?
Ans:-For the purpose of taxation, Limited Liability Partnerships treated like Partnership Firms. The Minimum Alternate Tax and DDT are not applied to LLPs in India. A public limited company or private limited Company is subject to DDT @ 15% (plus Surcharge and Education Cess). The taxes applicable to Limited Liability Partnerships (LLP) in India, are the following: • Income Tax: 30%. In case, when the income of the LLP exceeds INR One Crore in any financial year, then Surcharge @ 10% will be applied. • Education Cess: 3%
Q5. Who can form an LLP?
Ans:- An LLP may be formed by two or more legal persons (for example individuals, limited companies, LLPs, corporations etc) for carrying on a lawful business with a view to profit.  
Q6.What is Drafting of LLP Agreement ?
Ans:- LLP Agreement defines the rights, duties, liabilities sharing of profits and many more provision which controls the internet matter of the LLP. It drafted very carefully order avoid any the disputes future.LLP agreement has to be filed within 30 Days of the incorporated of LLP in E-Form LLP-3.  
Q7. What is LLP agreement
Ans:- LLP agreement is a contract made between the partners of a LLP to establish a fair relationship between them and to protect their investment.  
Q8. A limited liability partnership firm is governed under which law?
Ans:- The formation and regulation of LLP is governed by LLP Act, 2008 and the rules made there under i.e. LLP Rules, 2009, (hereinafter referred to as the “Rules”)  
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