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Limited Laiblity Partnership

Overview

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  • Easy to Form - Formation of Limited Liability Partnership is a very easy process and fewer formalities as compared to the incorporation of a company.
  • Less Compliance - The main benefit in formation of Limited Liability Partnership LLP is less compliance as compared to Private limited Company
  • Benefit in Taxation - One of the main advantages of LLP is a benefit in taxation, the tax rate is lower as compared to the company. In company, tax is charged on total profit whereas in LLP tax is charged on profit after distribution of profit to partners.
  • Separate Legal Entity - A LLP is a legal entity and a juristic person established under the Act. The partners are distinct from the entity and both can sue each other and get sued in the process.
  • Easy Transferability - The ownership of a LLP can be easily transferred to another person. All you need is to induct them as a Designated Partner of the LLP. LLP is a separate legal entity separate from its Managing P
  • Audit Requirement - No mandatory requirement of statutory audit up to a certain limit i.e. Turnover or Contribution.
Private Limited Company

Packages

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Silver

  • Rs 7,999*
  • DSC For 2 Partner
  • DIN For 2 Partners
  • LLP Certificate
  • LLP Agreement
  • PAN
  • TAN
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Gold

  • Rs 8,999*
  • DSC For 2 Partner
  • DIN For 2 Partners
  • LLP Certificate
  • LLP Agreement
  • PAN
  • TAN
  • MSME Registration
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Diamond

  • Rs 9,999*
  • DSC For 2 Partner
  • DIN For 2 Partners
  • LLP Certificate
  • LLP Agreement
  • PAN
  • TAN
  • MSME Registration
  • GST Registration
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*Exclusive of GST

Why choose LLP?

Limited Liability Partnership (LLP) carry’s benefit of a conventional partnership and still limiting the personal liabilities of partners. In Limited Liability Partnership, the liabilities of the partners are limited up to their contribution to LLP; personal properties are not attached to settle creditors. It is regulated as a contractual agreement between the partners under the Limited Liability Partnership Act, 2008. It is a popular choice for services and professional firms like Chartered Accountants, Lawyers, recruiting firms, consulting businesses, etc. .

Steps Involved?

step1

Apply for DSC

step2

Apply for DIN

step3

Application for the name availability.

step4

Name Reservation

step5

Incorporation

step6

LLP Agreement

Required Documents for LLP

For LLP following documents are needed:

    Documents of Partners :

  • PAN Card/ ID Proof of the Partners
  • Address Proof of the partners
  • Residence Proof of Partners
  • Photograph
  • Specimen signature
  • Passport (in case of Foreign Nationals/ NRIs)

    Documents of LLP:

  • Proof of Registered Office Address
  • Digital Signature Certificate

Comparision

  • Ideal For
  • Minimum No. Of Members
  • Tax
  • Statutory Compliance
  • Cost
  • Time Taken
Private Limited Company

  • Startup and Small Entities

  • 2 Director
  • 25%
  • High
  • 10,999
  • 2 weeks

Limited Liability Partnership

  • Professionals

  • 2 Partners
  • 30%
  • Moderate
  • 7,999
  • 2 weeks
Partnership Firm
  • 2 Partner
  • 2 Partners
  • 30%
  • Low
  • 3,999
  • 2 weeks
One Person Company
  • Sole Promoter
  • 1 Director
  • 30%
  • High
  • 8,999
  • 2 weeks
Sole Proprietorship
  • Individual
  • 1 Individual
  • 10 - 30%
  • Low
  • 1,499
  • 1 week