LLP Registration – Online

An LLP is the most suitable structure for small businesses in India, as there are fewer regulations to comply with. For instance, auditing its account books is not mandatory until the turnover exceeds 40 Lac or the capital exceeds 25 lac.

The decision over choice of business structures depends upon several factors. These include the number of owners, amount of capital, mode and scale of operations, objective of business, etc. We recommend that, as an entrepreneur, you closely analyse all LLP advantages and disadvantages before you make your decision. If you need further help, contact us.

The overall cost of LLP Registration in India can be divided into:

1. LLP Registration fees
2. Professional Charges

The LLP Registration fees include ROC fees, DSC fees and DPIN fees of all partners. We will help you calculate the overall fees for new LLP Company Registration in India. Contact us, for further queries.

LLPIN is a unique number allotted to the LLP for its identification by the Registrar of Companies. Its allotment is made after the LLP registration, and it is mentioned on the Certificate of LLP registration as well.

Compared to a traditional partnership, it is easier to raise funds for an LLP. This is because it restricts the liability of its owners to a pre-fixed, mutually agreed ratio. On the contrary, a traditional partnership burdens its partners with unlimited or 100% liability. Moreover, unlike a traditional partnership, the existence of an LLP does not depend on the life of its partners.

The capital in an LLP must be introduced by its partners. The share of capital contribution is mutually decided among partners, and is mentioned in the LLP deed.

The LLP Act does not prescribe any minimum or maximum limits of capital for a limited liability partnership. This means you can start an LLP with any amount of capital provided it does not remain nil. after 6 months of LLP registration.

LLP Registration Process in 4 steps:

• Step 1: Documentation
• Step 2: Select & Reserve the name of the LLP
• Step 3: Fill Out the FiLLiP Form for LLP registration online
• Step 4: Issue of Certificate of Incorporation

LLP documents required for registration include the KYC documents of all partners. Also, the registered address proof of LLP is required. This must be accompanied by the no objection certificate from the owner of the registered office address. After incorporation, you also need to submit the stamped and notarised LLP deed to the ROC.

A few LLP disadvantages include:

• Public Disclosure of Financial Information
• Extremely High Penalties for Non-Compliance with tax and regulatory laws
• No Scope of Equity Investment
• High Income Tax Rates

An LLP has very few compliance requirements. This makes it an even more attractive option for Startups. The only major LLP compliances include:

• Filing of LLP annual returns in Form 8
• Filing of LLP annual Financial Statements in Form 11
• Filing of annual Income Tax Returns