How to register in Limited Liability Partnership?

 

How to register in Limited Liability Partnership?

What is LLP?

A limited liability partnership is a partnership in which some or all partners have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner’s misconduct or negligence.

Features of LLP

. It has a separate legal entity just like companies
. The liability of each partner is limited to the contribution made by partner
The cost of forming an LLP is low
 Less compliance and regulations
. No requirement of minimum capital contribution


Documents required to register LLP:

Documents of LLP:

Proof of Registered Office Address
Digital Signature Certificate

Documents of Partners:

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

The advantages of LLP (Limited Liability Partnership) are:

1. Convenient

2.No minimum capital requirement

3. No limit on owners of business

4. Lower Registration Cost

5. No requirement of compulsory Audit

6. Savings from lower compliance burden

7. Taxation Aspect on LLP

8. (DDT) not applicable

Process of Registration as LLP

Step 1: Obtain DSC
Step 2: Apply for DIN
Step 3: Name Approval
Step 4: Incorporation of LLP
Step 5: File LLP Agreement

If anybody has any query, then please inform best CA firm in East Delhi-

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