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The Limited Liability Partnership (LLP) Agreement is the charter of the LLP, similar to the Memorandum of Association and Articles of Association for a private limited company. It defines the scope and extent of the LLP's operations as well as the rights, duties, obligations of the partners. It specifies the contibution of each partner, the profit sharing and details of closure of LLP.  Altering the agreement is straightforward. All you need to do is pass a resolution approving the revision in the LLP Agreement.

We at ebizfiling will make it easy for you to Change in Agreement with end to end help from our professional team. 

Few points to make your decision easy

Body Corporate

  • Distinct identity from its owners
  • Artificial independent person

Cost Effective

  • Lesser fund requirement for running the business
  • Low cost of dissolution

Flexible management

  • Easy compliance as compared to other setup
  • Less government intervention

Tax benefits

  • No Dividend Distribution tax
  • No double taxation

No need of compulsory audit

  • Audit of not mandatory unless contribution exceeds INR 25 lakh
  • Annual turnover exceeds INR 40 lakh

Perpetual Succession

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

A small procedure for your quick understanding

Get answers to all your questions here

How much stamp duty is required to be paid on LLP Agreement?

The stamp duty applicable for Partnership Agreements under the respective State Stamp Acts is payable on the LLP Agreement on the basis of contribution.

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.

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