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LLP REGISTRATION MYSURU

CompanyBazaar.com offers the fastest Limited Liability Partnership (LLP) Registration package in India.  A Limited Liability Partnership (LLP) company can be registered online in less than 10 days at just Rs. 999/- professional fee plus govt fee.

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Limited Liability Partnership (LLP) in India

Limited Liability Partnership (LLP) combines the benefits of a partnership with that of a limited liability company. In India, LLP Registration came into effect in January 2009 and was an instant success with startups and professional service providers like Advocates and CAs. The idea behind LLP was to provide a form of business that is easy to maintain and benefits the owners with limited liability.

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What is a Limited Liability Partnership (LLP)?

LLP Registration in India has become the preferred alternative form of business that provides the advantages of a Company and the flexibility of a Partnership firm. The Concept of LLP in India was introduced back in 2008 by the Limited Liability Partnership Act of 2008. This unique hybrid structure is suitable for setting small, medium-sized businesses.

It is very easy to manage and incorporate a Limited Liability Partnership in India. To register an LLP minimum of two partners are required, there is no upper limit as such. The LLP agreement states the rights and the duties of the Partners. In an LLP one partner is not responsible for the misconduct and negligence of the other partner. The partners are responsible for the compliances and all the provisions that are specified in the LLP agreement.

" I expected my Limited Liability Partnership (LLP) to be registered in 15 days, but instead they got it done in 7 days. I am very happy & satisfied. CompanyBazaar team is super professional and fast."
GST-REG-CLIENT-400
Tanvi Maheswari
Founder & Director of MNC Company

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Capital Required to Start a LLP Firm

A company can be started in India with a very minimum amount of capital. There is no fixed amount and the partners of the LLP being incorporated can determine the capital they wish to contribute. While setting up the capital structure of the LLP,  the designated partners are free to decide the profit and loss sharing ratio and other terms between them.

Limited Liability Partnership (LLP) Registration Process

These are the most important steps for LLP registration in India

Step 2: Digital Signature for Designated Partners

In India, the Ministry of Corporate Affairs has made it compulsory to sign documents with Digital Signature Certificate (DSC) token. All filings with the MCA must be completed with a digital signature that is issued by a Certification Authority in India. Hence, digital signatures are mandatorily required for the Designated Patners before incorporation. All DSC tokens has to be authenticated by uploading KYC documents and doing video verification, email verification and mobile verification.

Limited Liability (LLP) Compliances

All the Limited Liability Partnership registered in India is required to fulfil certain mandatory compliance that are set by the MCA for LLP. Not only with ROC but the LLPs needs to be complied with the Income tax filings and GST Return filing requirement as well. In this article we have given an overview of mandatory compliance calendar for an LLP.

LLP Agreement – The Partners of an LLP are required to execute an LLP Agreement and a copy has to be filed with the Registrar or Companies in LLP Form 3 with in 30 days of incorporation of LLP.

Director DIN KYC: All persons who hold a Director Identification Number (DIN) – which is allocated during the incorporation process must complete DIN KYC each year to validate the phone and email address on record with the Ministry of Corporate Affairs.

Statement of Accounts and Solvency in LLP Form 8 Every LLP is required to prepare and close its accounts until the 31st March every year. From 8 is to be filed by at least two Designated Partners with the Registrar within 30 days after completion of six months of Financial Year. The Statement of Account and Solvency can now be signed on behalf of the LLP by its an interim resolution professional. (LLP (2nd Amendment) Rules, 2022. 

Annual return in LLP Form 11 – Annual Return or Form 11 is a Summary of all the Designated Partners like whether there are any changes in the management of the LLP or not. It is required to be in Form 11 to the Registrar within 60 days from the closure of financial year

Income Tax Return – Every LLP has to file Income Tax Return every year. The last date of filing of return for LLP is 31st July every year. However, any LLP under tax audit is required to file its Income tax return by 30th September.

Statutory Audit – It may be noted that only those LLP whose annual turnover exceeds Rs. 40 lakhs or whose contribution exceeds Rs. 25 lakhs are required to get their accounts audited.

LLP REGISTRATION MYSURU

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