limited_liability_partnership_llp_registration

LLP Registration in India: Simplify Your Business with Us!

In today’s fast-paced business world, Limited Liability Partnerships (LLPs) have become a popular choice for entrepreneurs and professionals seeking the perfect balance of flexibility and limited liability. At Shubham Anand & Co, we specialize in providing seamless LLP registration services, ensuring you can focus on building your business while we handle the legal formalities.

Why Choose an LLP?

A Limited Liability Partnership combines the benefits of a partnership with the added advantage of limited liability. It’s an ideal business structure for small and medium-sized businesses, startups, and professional services firms. Key benefits include:

  • Limited Liability Protection: Partners’ personal assets are protected from business liabilities.
  • Operational Flexibility: Enjoy minimal compliance requirements compared to companies.
  • Separate Legal Identity: The LLP is a distinct legal entity, ensuring continuity and credibility.
  • Tax Efficiency: LLPs enjoy lower compliance and taxation burdens compared to private limited companies.

We offer a comprehensive end-to-end solution for LLP registration. We have dedicated team members who can provide company formation or business set-up services in India or outside India. Our LLP advisory services include:

1. Name Suggestions for your LLP

2. Applying & Obtaining Name approval from ROC (Registrar of Companies)

3. DSC / Digital Signature of the Partners

4. Applying & Obtaining DPIN (Director Partner Identification Number)

5. Drafting of LLP Agreement (profit sharing ratio, capital contribution, roles & responsibilities etc)

6. Filing of LLP Agreement

7. Application Preparation for Incorporation

8. Application Filing for Incorporation of LLP with requisites attachments on MCA portal

9. Payment of Government fees to MCA

10. Applying and obtaining PAN of LLP

11. Application for TAN of LLP

Documents required for LLP Registration

To register a Limited Liability Partnership (LLP) in India, the following documents are typically required:

Documents of Partners

  • PAN Card: A copy of PAN is Mandatory for all partners.
  • ID Proof: Any of the following: Aadhaar Card / Voter ID / Driving License / Passport (mandatory for foreign nationals)
  • Address Proof (Not older than 2 months): Bank Statement or Utility Bill (Electricity, Gas, or Telephone).

Proof of Registered Office Address

  • Ownership Proof: Sale deed (if the premises are owned) or Rent agreement (if rented)
  • No Objection Certificate (NOC): NOC from the owner of the premises (format will be provided by us)
  • Latest Utility Bill (electricity, water, or telephone), not older than 2 months.

Digital Signature Certificate (DSC)

  • DSC for all designated partners for signing forms electronically.

LLP (Partnership) Agreement

Drafted LLP agreement specifying profit-sharing ratio, roles & responsibilities, and decision-making processes among partners.

Consent of Partners

Consent of each partner to act as partners of the LLP in Form 9.

Compliances for LLP in India

Compliances for a Limited Liability Partnership (LLP) in India include several mandatory legal, financial, and operational obligations. These ensure the LLP remains compliant with the provisions of the Limited Liability Partnership Act, 2008, and other applicable laws. Here’s a detailed list of LLP compliances:

1. Annual Compliances

a. Filing of Annual Return (Form 11)

  • Purpose: Statement of the LLP’s partners and their contributions.
  • Due Date: Within 60 days from the end of the financial year (i.e., by 30th May each year).
  • Applicability: Mandatory for all LLPs, irrespective of turnover.

b. Statement of Account and Solvency (Form 8)

  • Purpose: Declaration of the LLP’s financial position, including assets, liabilities, and solvency.
  • Due Date: 30th October of each financial year.
  • Applicability: Mandatory for all LLPs.

c. Income Tax Return (ITR)

  • Purpose: Filing of the LLP’s income tax returns with the Income Tax Department.
  • Due Dates: LLPs not requiring audit -31st July. LLPs requiring audit – 30th September (or as extended by the government).
  • Form: ITR-5.

2. Event-Based Compliances

These are triggered by specific events in the LLP, such as:

  • Change in Partners or Designation: File Form 3 and Form 4 within 30 days of the change.
  • Change in LLP Agreement: File Form 3 within 30 days.
  • Change in Registered Office: File Form 15 within 30 days of the change.
  • Closure of LLP: File Form 24 for striking off.

3. GST Compliances (if applicable)

  • GST Registration: If the LLP’s turnover exceeds ₹20 lakhs (₹10 lakhs for special category states) or it is engaged in inter-state supply.
  • Regular GST Returns: GSTR-1, GSTR-3B, and annual GSTR-9 filings.

4. Other Key Compliances

a. Tax Audit

  • Applicable if the LLP’s turnover exceeds ₹1 crore in a financial year (or ₹10 crore if 95% of transactions are digital).
  • Tax Audit to be conducted by a Chartered Accountant.

b. Maintenance of Books of Accounts

  • Mandatory to maintain books at the registered office, either manually or electronically.

c. MCA Updates

  • LLP must promptly report changes such as email IDs, addresses, or designated partners via appropriate forms.

d. Compliance with FEMA (if applicable)

  • For LLPs with foreign investment, compliance with FEMA regulations is mandatory.

Penalties for Non-Compliance

Failure to comply with LLP regulations can result in:

  • Penalty of ₹100 per day per form until compliance is met (no maximum limit).
  • Additional penalties for non-filing of income tax returns.

Staying compliant not only avoids penalties but also ensures the LLP’s credibility and smooth operations. If you need guidance on a specific compliance or filing process, let us know!