Limited Liability Partnership (LLP) Registration in Jaipur Rajasthan India

Easily Register a LLP.

Limited Liability Partnership (LLP) offer limited liability protection for an association of persons doing business. LLP is ideal for small businesses.

About Limited Liability Partnership

LLP is a new concept in India and also a popular corporate entity amongst professionals and service sector organizations. Basically it’s a mixture of Partnership firm and Private Limited company registration. It has been introduced in India by way of Limited Liability Partnership Act, 2008.

Process to Register LIMITED LIABILITY PARTNERSHIP

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Features of LIMITED LIABILITY PARTNERSHIP

LLP is a body incorporate and a legal entity separate from its partners having perpetual succession, can own assets in its name, sue and be sued.

Every LLP shall have at least 2 partners.

IN LLP no limit for a maximum number of partners unlike partnership firms.

In LLP must have at least two individuals as Designated Partners of whom at least one shall be resident in India. The duties and obligations of Designated Partners are as provided in the law.

BENEFIT of a LIMITED LIABILITY PARTNERSHIP

Separate legal entity

The limited liability partnership (LLP) is legal and separate entity in the eye of law. The Partners of a LLP have no liability to the creditors of a LLP for such debts. The death, bankruptcy or withdrawal of capital by one partner does not affect the LLP’s ability to trade.

Limited liability of Partners

The liability of the Partners is only up to the amount that they invested in the LLP. Limited liability protects the personal wealth of partners, and does not put personal assets at risk

Taxation

There are many allowances and tax deductible costs that can be offset against the profits of a LLP and the tax would be paid after deducting many costs incurred by partner. In addition to that the current level of Corporation Tax is lower than income tax rates.

Save audit expenses

In the LLP Audit is not mandatory if its turnover is less than Rs. 40 lakh and capital contribution less than Rs.25 lakh.

More Flexibility

Partners have flexibility within business ownership under a limited liability partnership. Each partner in the business has the ability to decide how much they want to contribute and how many of partners they truly want to be in the business. Duties are either divided equally or based on the experience of the individual. They are also not obligated to participate in business meetings or consultations with anyone that they do not feel the need to.

Easy to Transfer LLP ownership

The ownership of LLP can transfer to the any person as an ongoing concern. These changes of ownership, saves the time and money.

DO’S & DON’TS:

DO’S DON’TS
1 All mandatory compliance should be complied within the time limit. 1 If mandatory compliance should not complied within the time than penalty is Rs. 100 per day will charged and it will be continue till the filling is done.
2 Any changes made in LLP agreement should be updated in the records of ROC. 2 Cannot Issue Shares To The Public.
3 Under LLP, it is mandatory to execute and file LLP agreement to ROC.  
4LLP is required to file Form 8 (Statement of Account & Solvency) within 30 days from the end of 6 months of the F.Y. and Form 11 (Annual Return) within 60 days of close of F.Y.  

Difference between partnership firm and LLP

Partnership firm LLP
1 Liabilities of partners are unlimited. 1 Liabilities of partners are limited to the contribution.
2 Partnership is prevailed by ‘The Indian Partnership Act, 1932’ and various Rules made there under 2Limited Liability Partnership are prevailed by ‘The Limited Liability Partnership Act, 2008’ and various Rules made there under.
3 Partners are jointly and severally liable. 3 Partners are not liable for act of other partners.
4 Registration of partnership is not mandatory. 4 Incorporation of LLP is mandatory.
5 Partnership cannot have more than 20 partners. 5 LLP can have more than 20 partners.
6 Partnership firms are neither body corporate nor do they have perpetual succession and legal entity. 6 LLP is a body corporate having a perpetual succession and legal entity.
7 The partners are not required to obtain any identification number. 7 Each Designated Partners is required to have a DPIN (designated partner identification number) before being appointed as Designated Partner of LLP.
8 In partnership firm anyone can use the name of our partnership firm if another person has registered office in different place. 8 In LLP the designated partners can enjoy the name protection of our LLP. No one can use the name of our LLP.

FREQUENTLY ASKED QUESTIONS (FAQS)

Limited Liability Partnership (LLP), introduced in 2008, has quickly become a popular legal structure for businesses. Its main improvement over the General Partnership is that, as the name indicates, it limits the liabilities of its partners to their contributions to the business and also offers each partner protection from the negligence, misdeeds or incompetence of the other partners.
The money requirement for a LLP is not of a major concern during the process of registration. You can start a LLP with any amount of capital as you don't need to show proof of capital invested during the incorporation process.
A minimum of two partners is required to incorporate a Limited Liability Partnership and the number of partners can exceed to any amount.
You need to arrange very simple documents of Partners are as follows

Pan Card

ID proof- Any one (Voter ID / Aadhar Card / Driving License / Passport)

No, registered office is not required. You can show your own residential or rented home address as the registered office address of LLP. This office address can be changed at any time after incorporation of LLP.
Yes, LLP office address can be changed anytime after incorporation
No LLP is not a good instrument to raise funds from Private investors. Investors invest in a company in lieu of the equity or stake but in LLP, the investors do not get to hold stake
Yes, NRIs and Foreign nationals can work as partners in a Limited Liability Partnership. They need to obtain a DPIN (Designated Partner Identification Number). But the only condition is that among the other partners there has to be one of Indian origin/national
Yes, a salaried person can become the director in LLP, there are no legal boundaries in this, but you have to go through with your employment agreement if it contains any restrictions on doing so.
No. Once the LLP is formed, it will be valid till it is officially closed down by the owners. No renewal or fees is required. However, every year LLPs have to file very basic returns with ROC office.
There is a need of annual filing of LLP with Registrar each year if its turnover is less than Rs. 40 lakh and capital contribution less than Rs.25 lakh.
The validity of a LLP depends upon the annual compliances that are needed to be met regularly. The moment the annual compliances are not delivered by the LLP, the LLP will become a Dormant and will be removed from the registration after a certain period of time.

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Basic
Rs.7500/-
all inclusive fees

LLP Registration with DSC, DIN, LLP Deed Drafting, Name Approval, Challan Cost For Incorporation and PAN, TAN, LLP Kit and Bank A/c Opening Assistance Services.

Standard
Rs.10500/-
all inclusive fees

LLP Registration with DSC, DIN, LLP Deed Drafting, Name Approval, Challan Cost For Incorporation and PAN, TAN, LLP Kit, Bank A/c Opening Assistance Services and 1 Year ROC Secretarial Compliance Fillings .

Premium
Rs.15500/-
all inclusive fees

LLP Registration with DSC, DIN, LLP Deed Drafting, Name Approval, Challan Cost For Incorporation and PAN, TAN, LLP Kit, Bank A/c Opening Assistance Services, 1 Year ROC Secretarial Compliance Fillings and Trademark Application .

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