What are you looking for? Is it LLP FIRM REGISTRATION IN DELHI? Amongst the various firms which are registered LLP REGISTRATION is considered to be amongst the balanced structure for an incorporation as each partner of the firm registered under LLP holds conventional liabilities and yet enjoys the profit of the company. Any LLP FIRM REGISTRATION is regulated under Limited Liability Partnership Act 2008. It is a popular choice which adhere into the requirement of service providing be it consulting, education and CA firms etc. Limited Liability Partnership Registration in Delhi can be easily incorporated and maintained. But one cannot easily transfer the ownership in LLP as it can be done in Private Limited. So in this you will get a brief account of the requirements for LLP registration-
Documents required for LLP REGISTRATION
Steps involved for the LLP FIRM REGISTRATION
You need to obtain a digital signature certificate for the involved partners and their Director Identification Number as well. For obtaining these certificates you need to ensure that you have the following documents along with you-
You need to register the desired name for your company. You will have to provide 6 choices for the name accordingly the name will be approved on the basis of availability. To finalise the name ensure that it goes through the LLP guidelines or you can take our assistance. The proposed name is submitted to MCA which is forwarded to ROC for approval. The time duration of name approval varies from ROC to ROC.
Once you receive the approval letter for the name we proceed for Filing of Incorporation which takes 60 days for finalising. The draft of the LLP agreement comprises of
Along with the LLP agreement you need to have the soft copy of the following documents along with you since they will have to be uploaded electronically-
Once you fill up the following forms you will receive your registration details and accordingly you can proceed for PAN card registration of your LLP firm.
The details which are required during registration needs to be very particular and without error for the same you can get your LLP FIRM REGISTRATION IN DELHI by the help of PKG Consultancy.
There are many advantages and simultaneous disadvantages of registering your firm as an LLP here is a brief of the advantages and disadvantages involved in LLP registration
No minimum contribution is required. You can even enlist movable, non-movable or tangible assets as a capital while registering for LLP.
You need to have minimum two partners for registration but there is no set maximum limit for partners as it is so in private firm registration.
The registration cost for LLP registration is absolutely low and it varies from consultancy to the other. With us you can have the best of deals for LLP registration.
There is no requirement of compulsory audit but if your contribution exceeds 25 lakhs and turnover exceeds 40 lakhs in that case you will have to have annual audit.
Dividend distribution tax is not payable in LLP registration Delhi but the partners need to pay their individual tax. Additional tax liabilities like Divided Distribution Tax etc. is not applicable.
If you fail to comply by the norms of LLP registration in that case, you will have to bare heavy penalty which will only increase if you do not abide by it.
It lacks the concept of shareholding or equity. So you cannot enjoy funding benefits as in Private Limited Registration. The turnover rates for above 250 crores is higher than private limited registration.
So now you know the details involved in LLP REGISTRATION DELHI for other queries you can write to us as we are always here to assist you with your problems.
LLP is a partnership formed and registered under Limited Liability Partnership Act. It is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name. The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.
Every Designated Partner would be required to obtain a “Designated Partner’s Identification Number” (DPIN) on the lines similar to “Director’s Identification Number” (DIN) required in case of directors of companies apply for application of DPIN as provided in Form 7.
Every individual proposed to be appointed as a designated partner of an LLP is required to give his prior consent to the LLP in Form 9 (Section 7(3) of the LLP Act, 2008 and Rule 7 of the LLP Rules, 2009).
Persons, who subscribed to the “Incorporation Document” at the time of incorporation of LLP, shall be partners of LLP. Subsequent to incorporation, new partners can be admitted in the LLP as per conditions and requirements of LLP Agreement.
A person may cease to be a partner in accordance with the agreement or in the absence of agreement, by giving 30 days notice to the other partners. Notice is required to be given to ROC when a person becomes or ceases to be partner or for any change in partners.
Every LLP would be required to file Annual Return with ROC. A duly authenticated Annual Return in e- Form-11, is to be filed with the Registrar, together with the prescribed fee, within a period of 60 days from the closure of every financial year.
(a) An LLP is governed by the provisions of the LLP Act, 2008 whereas a Partnership is governed by the Partnership Act, 1932.
(b) Registration of an LLP is compulsory but the registration of a partnership firm is optional.
(c) A partnership firm does not have a perpetual succession.
(d) An LLP can purchase immovable property in its own name, unlike a partnership firm, which cannot purchase property in its own name.
‘LLP’ is required to get their books of accounts audited when the total revenue is more than INR Rs. 40 lacs or total capital of partners exceeds INR Rs. 25 lacs.
A.The LLP Act, 2008 or the LLP Rules, 2009 do not mention anything about the residential status of the partners of an LLP. However, at least one of the designated partners is required to be a resident in India. (Section 7(1) of the LLP Act, 2008).