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Starting a Limited Liability Partnership (LLP) in India
How we can help you? We provide the complete package which includes the following.
The amount of Rs. 6999 includes one DSC fees and government fees of ROC forms.
Start your LLP at Rs. 6999 including government fees & one DSC fees.
What is a Limited Liability Partnership (LLP's) how to register?
A Limited Liability Partnership is a hybrid of a company and a partnership firm. It is governed under the Limited Liability Act, 2008. The Indian Partnership Act, 1932 is not applicable to LLP.
LLP is a body corporate incorporated under the LLP Act which has its own separate legal entity having perpetual succession. Any Individual or a body corporate can be a partner in an LLP. Every LLP shall have at least two partners. Every LLP shall file with the registrar the particulars of every individual who has given consent to act as a partner within 30 days of appointment.
Every designated Partner shall be entitled to obtain Designated Partner Identification Number (DPIN) from the Central Government.
Checklist & Documents Required for registering an LLP in India
Following is the list of documents required for LLP registration in India.
Documents for Partners
A minimum of two partners is required to start an LLP. The following documents are required.
- PAN Card of all partners
- Address proof all the partners which can be Voter’s ID, Passport, Driver License, or Aadhar Card. The name and other details should be exactly the same. Correction should be made in case of any difference before submitting the form to ROC
- Residence Proof is also required which can be the latest bank statement, telephone bill, mobile bill, electricity bill, or gas bill. The bill should not be older than 2 months and should have the same name of the partner as mentioned on the PAN number.
- In the case of Foreign Citizens or Non Resident person for becoming a partner in an LLP, a passport is required.
Documents required for LLP
- Proof Of Registered Office Address is required which can be a utility like electricity, gas, or telephone, and should not be older than 2 months. In case the registered office is on rent, a rent agreement should be attached along with a nonobjection certificate from the owner and utility bill.
Checklist for LLP Incorporation
- A minimum of two partners are required, one partner cannot himself form an LLP. Besides it, one partner needs to obtain a Digital Signature Certificate (DSC) to sign the LLP incorporation form.
- DPIN is required for all the designated partners and a unique name of LLP is required. Run LLP form is filed first to reserve the name. Remember, the name should not match with any registered Trademark or an existing LLP. The meaning of the name in a different language should also be known. While filling run form, don’t forget to add LLP at the end of the name.
- Capital Contribution of Partners in cash or in-kind.
- Addendum in case number of partners exceeds 15.
- Notarized LLP agreement.
- Login Id on MCA portal for filling of the ROC forms.
What is to be done after incorporating an LLP in India?
After filling all the ROC forms and obtaining LLP Incorporation Certificate, one needs to apply for PAN Card. PAN application is filed separately on the NSDL website. After obtaining PAN Card, one can apply for the GST certificate to start the business. GST Registration process takes 7 working days to complete, in case no query is raised.
Obtaining TAN number and filling TDS returns per quarter, deducting TDS, and paying TDS deducted before 7th of next month.
Maintaining Accounts for LLP is a must as without maintaining proper books of accounts, things will get complicated and cumbersome.
Other compliances involve filling of Income Tax Return which Is ITR-5 as Firms & LLP are mandatorily required to file Income Tax Return in India. Form ITR-5 can be filed using the Digital Signature of the designated partner.
An MCA annual return which is Form-11 is filed every year on or before 30th May. Form 11 contains the details of the number of partners, total number of partners, total contribution received by all partners, details of body corporate as partners, and summary of the partners. Also, FORM-8 needs to be filed within 30 days from the end of six months of the financial year.
LLP Incorporation Cost and Fees Structure
Since the process of incorporating LLP involves filling ROC forms. The government fees are also involved. First, we need to obtain a Digital Signature of each partner that would cost about Rs. 800 to Rs. 1500. Gstmentor also provides DSC making facility.
The government fee for filling RUN LLP form is Rs. 200 and for the form, fiLLip is Rs. 300. After incorporation form 3 is filed. The government fee for Form-3 is Rs. 50. Stamp Duty for registering LLP agreement will depend upon the state to state in India.
Afterward, the fees would be paid to the professional who incorporates LLP. We at Gstmentor are a team of Chartered Accountants who have incorporated LLP all over India. We at Gstmentor register an LLP for Rs. 4999 only excluding the government fees.
