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Limited Liability Partnership (LLP) Incorporation

Running your business with partners? Limit your liability by registering as Limited Liability Partnership. Purchase plan through TAXAJ and get started right away!

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About This Plan

Registering your firm as a Limited liability partnership involves lesser compliance issues as compared to a PLC registration.

Created by potrace 1.15, written by Peter Selinger 2001-2017

Timeline

It Usually takes 15 to 20 working days.

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Services Covered
Who Should Buy
How It's Done
Documents Required
Services Covered

  • Filing of E-forms
  • Drafting of LLP Deed
  • Designated Partner Identification Numbers-DPINs (2 nos.)
  • Digital Signature Certificates-DSCs (2 nos.)
  • Issue of Incorporation Certificate
  • Includes Government Fees upto Rs. 1 Lakh Capital Contribution by Designated Partners
  • Stamp Duty upto Rs. 2000/- and its Notarisation in any state in India for LLP Deed
  • Assistance in Opening Bank Account
Who Should Buy

  • Minimum two Partners or Stakeholders
  • Companies, body corporates or already existing partnerships
  • LLPs registered outside India
  • Startups and SMEs looking for carrying business with minimal legal formalities
How It's Done
    1. Purchase of Plan
    2. DSC
    3. Name Reservation
    4. Filing of LLP and DPIN application with Registrar
    5. Receipt of Registration Certificate
    6. Notarisation of LLP Deed
    7. Application for PAN and TAN
Documents Required

  1. Name, Contact Number and Email Id of all the Stakeholders.

  2. Directors Identification Number, if already.

  3. Self Attested PAN, Aadhar & Passport size photo of all the Stakeholders.

  4. Apostilled Passport, Mobile Bill and other KYC docs in case of NRI Stakeholder.

  5. Specimen Signatures of all Stakeholders.

  6. Few Proposed Business Names along with Objects.

  7. Latest Electricity Bill/Landline Bill of Registered Office.

  8. NOC from owner of registered office. (If Owned)

  9. Rent Agreement from Landlord. (If Rented/Leased)

  10. Brief description of main business activities of the proposed Company.

  11. Shareholding pattern (50:50 or 60:40) between the Stakeholders.

  12.  Total Capital Contribution of the Company.

Frequently Asked Questions:

What is an LLP?

LLP stands for "Limited Liability Partnership" Firm/Company

A Limited Liability Partnership firm (LLP) is a hybrid structure between a partnership firm & a private limited company where the business is carried out in a corporate framework, guided by terms of the mutually adopted partnership deed.

What are the advantages of registering as a LLP over general partnership firms?

An LLP has certain advantages over normal partnership firms

  • Liability- In a general partnership firm, partners are personally liable for debts of the business which means that even their personal property may be used to settle the firm’s debts. Whereas, the liability of partners is limited in case of an LLP.
  • Immunity against wrong doings of other partners- Under LLP structure, partners are not responsible for negligence or misconduct of other partners whereas in general partnership firms, partners can be held responsible.

Our experts shall guide you on how you can get registered under the Startup India Initiative and avail the benefits.

Does the Income Tax Act treat partnership firms and LLPs differently?

Not much except a few things such as

  • Both general partnerships and LLPs are taxed at flat rate of 30%.
  • All the other income tax act provisions apply similarly except that general partnership firms are covered under presumptive taxation scheme i.e if turnover is below Rs. 2 crore in business or Rs. 50 lakh in case of profession, there is no need to maintain books of accounts or get accounts audited whereas, LLPs are explicitly not covered.
What is the minimum capital requirement for LLPs?

There's no such limit in a LLP

There is no minimum capital contribution requirement. It can be registered even with Rs. 100 as total capital contribution.

Do I need to be physically present during this process?​

No, not at all.

→ No, your physical presence is not required during the process.

Is stamp duty payable during incorporation process?​

Yes, Stamp duty are charged by state of registered office.

Yes, Stamp duty charges are imposed by the state in which the registered office is proposed to be located. The charges are on Partnership Deed & Other Forms filed in the process. Our experts will guide you on additional charges, if any.

I already have my digital signature certificate and DIN. Will the package be discounted now?​

Yes, of course! We only charge for what we do.

In case, you already have a DSC and DIN, our experts will offer you some concession accordingly on the above package.

What is the audit requirement for LLP?

Audit is needed only when your business has started flourishing

  • Accounts of an LLP are required to be audited when the turnover is Rs. 40 lakh or more or when the total capital contribution is Rs. 25 lakh or more.
  • The auditor of an LLP is appointed annually by the designated partners.
  • The first auditor is appointed before the end of the financial year. Subsequent appointment or reappointment of the auditors is made one month before the closing of the financial year by the designated partners.
What is the stamp duty payable for LLP incorporation?​

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→ Normally the Stamp Duty is charged at certain percentage of Capital Contribution that varies upon state to state, therefore our expert shall guide you on this once you proceed with the plan.


Apart from this, notary charges will apply for two director affidavits and related stamp duty.

Can an NRI also become a partner in LLP? And what additional documents will be required to be submitted?​

Yes, an NRI or foreigner can be a Partner in LLP.

→ Yes, an NRI or any foreign national can become a Partner in LLP. But such person can be taken as a partner only when there is one partner who is a Resident of India. Additional documents required:

  • Copy of Passport Copy Which is attested by Consulate of Indian Embassy or Foreign Public Notary.
  • Copy of Driving License/ Bank Statement or Electricity Bills copy or Any Property Tax Payment Receipt which is attested by Consulate of Indian Embassy or Foreign Public Notary.

RBI approval is required for foreign capital contribution. Additional charges will be applicable for RBI approval. Our experts will advise you on the applicable charges.

Me and my partner are both partners & shareholders in our company. We wish to bring in two additional shareholders as well. Is that covered in the package?

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→ In the current package, we cover upto 2 digital signatures for two directors. For two additional shareholders, you need to secure two additional digital signatures certificates. We offer digital signature certificate - Click here to purchase digital signature

My details on my documents have a difference. Can I still incorporate my LLP using them?

Feel Free and Connect With Us

→ You will need to have exactly the same details on all your documents to incorporate your company.

Why is there delay in getting our incorporation certificate?

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→ Due to the increasing enthusiasm among too many entrepreneurs who wish to incorporate their companies, the MCA has made stringent rules to approve the company name and issue the certificate of incorporation. Further, due to excessive demand, the PAN and TAN applications are also increasing and thus it is understood that this processing will take time too. So, we could take a range between 20-25 working days to complete the company incorporation process and receive the certificate of incorporation.

How can I Register/Associate my DSC with MCA for filing any form ?

   Steps to Register/Associate DSC on MCA Portal (http://www.mca.gov.in/mcafoportal/showAssociateDSC)


  1. Click on the 'Register DSC' link available on the MCA portal homepage.

  2. On the next screen, click on the 'Director' link on the left hand panel and fill-up your DIN. Please ensure that the DIN is approved and typed correctly.

  3. System shall verify that the DIN is valid and approved. If the DIN is filled incorrectly or DIN filled is not approved, system will throw an error message to that effect.

  4. Fill-up rest of the particulars and ensure that details filled are as per DIR-3. If the applicant has filed DIR-6, then fill the details as submitted in DIR-6 form.

  5. Click on the 'Next' button. The system would verify the details.

  6. If the details filled do not match with DIR-3/ DIR-6, as the case may be, for the reason that you do not have your DIN application details, you can get the details from the company in which you are a director.

  7. If the details are correct, the system would prompt you to select the DSC.

  8. Click on the 'Select Certificate' button to browse and select the certificate. Please ensure that the selected DSC belongs to the applicant, whose particulars are being registered.

  9. System shall validate the DSC. If the selected DSC is already registered against given DIN, system will give an informatory message. If a different DSC is already registered against the given DIN, system will ask if the user wants to update his/ her DSC.

  10. Type the displayed system generated text for verification in the box provided.

  11. Click on 'I agree' button to agree to the declaration that details furnished are correct.

  12. Click on the 'Submit' button to register your DSC.

  13. Acknowledgement message is displayed to the user.

  14. User can take a print-out of the acknowledgement.

  15. The applicant can click on the 'Reset' function to clear the data in the fields.