KNOW ALL ABOUT LIMITED LIABILITY PARTNERSHIP, STARTING FROM 6,999/- INR

Here is all you need to know about the service you are looking for

A LLP is a form of separate legal business entity that gives the benefits of limited liability but allows its members the flexibility of organizing their internal structure as traditional partnership. It is governed by the Limited Liability Partnership Act, 2008. In LLP, unlike company, the designated partner have a direct relationship between owner and management.

You will have protection of a registered company; one partner will not be liable for any misconduct or negligence of another partner. LLP can operate not according to Company’s Act, 2013 but as per the LLP agreement formed at the time of its incorporation.

At ebizfiling, we will make the process of incorporating Limited Liability Partnership very smooth and easy.

Compare Your Need

Particulars Proprietorship Partnership Limited Liability Partnership One Person Company Private Company Public Company
Legal Entity No No Yes Yes Yes Yes
Limited Liability No No Yes Yes Yes Yes
Transferability No No Yes No Yes Yes
Tax benefits Low High High Moderate Moderate Moderate
Investor Preference No Low High No Moderate High
Statutory Audit Not Mandatory Not Mandatory Contribution >25 lacs or Turnover >40 lacs Mandatory, irrespective of share capital and turnover Mandatory, irrespective of share capital and turnover Mandatory, irrespective of share capital and turnover
Registration No No, but recommended Yes Yes Yes Yes
No. directors/partners One Min.2 Max.20(in case of Banking 10) Min.2 Designated Partners, Max. One Min. 2- Max. 15 Min. 2- Max. 15
Members No No No One Min. 2- Max. 200 Min. 7- Max. No limit
Annual Fillings No No Yes Yes Yes Yes
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Few points to make your decision easy

Easy compliance

  • Lesser requirement to maintain records
  • Easy compliance as compared to other setup

Separate Legal Entity

  • Distinct identity from its owners and Artificial independent person
  • Wide legal capacity and can own property and incur debts

Tax benefits

  • No Dividend Distribution tax
  • Distribution of profit to partners without paying any tax

No need of compulsory audit

  • Audit of financial statement not mandatory.
  • Audit required if contribution exceeds 25 lakh

Perpetual Succession

  • Going concern
  • Continues to exist until wound up in ROC records

Cost Effective

  • Low cost for setting up and dissolution
  • Lesser fund requirement for running the business

A small procedure for your quick understanding

Get answers to all your questions here

Can an existing partnership firm be converted to LLP?

Yes, an existing partnership firm can be converted into LLP by complying with the Provisions of the LLP Act.

Can an existing company be converted to LLP?

Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provisions of the LLP Act.

Can a listed company be converted to LLP?

No, only private / unlisted public company can be converted into LLP.

Whether name of LLP can end with words like Limited or Pvt Limited?

No, name of the LLP shall end with either ‘Limited Liability Partnership’ or ‘LLP’. Word ‘limited’ shall be allowed in name only within ‘Limited Liability Partnership’.

Can LLP give any other address (besides its registered office) for the purpose of receiving communication from Registrar?

It has been provided in the Act that a document may be served on a LLP or a partner or designated partner by sending it by post or by any other mode (to be prescribed under Rules) at the registered office and any other address specifically declared by the LLP for the purpose in such form and manner as may be prescribed (in the rules). Thus, an LLP shall have option to declare one more address within the jurisdiction of same ROC (other than the registered office) for getting statutory notices/letters etc. from Registrar.

How can a person become partner of an LLP?

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.

Whether any Annual Return would be required to be filed by an LLP?

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.

Still have confusion?

Don’t worry!! Our expert will help you to choose best suitable plan for you. Get in touch with our team to get all your queries resolved. Write us on info@ebizfiling.com or call us @+91 8262 990 990.

Here are best alternatives you can get

ESSENTIAL

6,999/- INR (All inclusive)

Get Started
  • 2 DSC + 2 DIN
  • 1 Name Approval Application
  • LLP Incorporation Certificate
  • LLP Agreement
  • PAN + TAN

Easy EMI's | Transparent Pricing

Popular
ENHANCED

12,599/- INR (All inclusive)

Get Started
  • 2 DSC + 2 DIN
  • 1 Name Approval Application
  • LLP Incorporation Certificate
  • LLP Agreement
  • PAN + TAN
  • Trademark(1 application 1 class) (start ups, proprietorship & small business)

Easy EMI's | Transparent Pricing

ULTIMATE

19,599/- INR (All inclusive)

Get Started
  • 2 DSC + 2 DIN
  • 1 Name Approval Application
  • LLP Incorporation Certificate
  • LLP Agreement
  • PAN + TAN
  • Trademark(1 application 1 class) (start ups, proprietorship & small business)
  • 1st Income Tax filing for non audit assessee
  • 1 Year TDS Filing upto 1000 entries
  • 1st Annual Filing upto turnover of Rs. 40 Lakhs

Easy EMI's | Transparent Pricing

Need more personalised solutions? Get in touch with us at +91 8262 990 990 or email info@ebizfiling.com