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Auriga Accounting has a team of registration experts who can provide complete guidance to register your Limited Liability Partnership (LLP) .
Our team of experts will get in touch with you and collect all necessary documents and details
We fill out and file your application for registration
Your Limited Liability Partnership (LLP) is registered
Auriga Accounting has a team of registration experts who can provide complete guidance to register your Liability Partnership (LLP).
Our team of experts will get in touch with you and collect all necessary documents and details
We fill out and file your application for registration
Your Liability Partnership (LLP) is registered
A Limited Liability Partnership (LLP) is a business structure where partners have limited liability, protecting personal assets from business debts. Unlike traditional partnerships, each partner is not personally responsible for the actions of others. LLP combines features of partnerships and corporations. It differs from a private limited company by its flexible management structure and lack of share capital. Unlike a One Person Company (OPC), an LLP requires a minimum of two partners. It provides limited liability similar to private limited companies but with a simpler compliance framework. In contrast to sole proprietorships, LLP involves shared responsibility among partners.
A Limited Liability Partnership (LLP) is a business structure that combines elements of a traditional partnership with limited liability features. In an LLP, partners are not personally responsible for the company’s debts or liabilities. Each partner’s liability is limited to their investment in the business, offering a level of protection for personal assets. LLPs provide flexibility in management and taxation, making them a popular choice for professionals and small businesses. It allows partners to share profits, manage the business collaboratively, and benefit from the liability protection typically associated with larger corporations.
A Limited Liability Partnership (LLP) is a business structure that combines features of a partnership and a company. In an LLP, partners have limited liability, and the entity is a separate legal entity. Section 2(n) of the Limited Liability Partnership Act, 2008, defines LLP as a partnership formed and registered under the Act.
LLPs are often used by professional service firms, just like AURIGA ACCOUNTING PRIVATE LIMITED, accounting firms, and consulting firms, because they provide the benefits of a partnership structure while limiting the personal liability of the partners.
Minimum Partners:
Types of Partners:
Designated Partners:
Foreign Nationals/Entities:
Professionals:
No Minimum Capital Requirement:
Registered Office:
Not for Non-Profit Activities:
Limited Liability: Partners enjoy limited liability, protecting personal assets from business debts and liabilities.
Flexibility in Management: LLPs provide flexibility in management, allowing partners to organize the internal structure as per their agreement.
No Minimum Capital Requirement: No minimum capital contribution is mandated for LLP formation, offering financial flexibility to partners.
Separate Legal Entity: LLP has a distinct legal identity separate from its partners, enhancing credibility and facilitating business transactions.
Ease of Registration and Compliance: Simplified registration process and fewer compliance requirements compared to private limited companies, reducing administrative burden.
Tax Efficiency: LLPs enjoy the benefit of pass-through taxation, where profits are taxed at the individual partner’s level, avoiding double taxation.
No Ownership Transfer Restrictions: Transfer of ownership or addition/removal of partners can be easily done with mutual consent and adherence to the LLP agreement.
Professional Independence: Professionals like lawyers, accountants, and consultants can form LLPs to provide their services with limited liability.
Foreign Participation: Allows foreign nationals and entities to participate as partners, encouraging international collaboration.
Reduced Compliance Costs: LLPs typically have lower compliance costs compared to private limited companies, making it cost-effective for smaller businesses.
Scope for Expansion: LLPs can easily convert into private limited companies or other business structures if needed for future expansion.
Filing of Incorporation Form (FiLLiP): File the FiLLiP (Form for Incorporation of Limited Liability Partnership) with the MCA. Attach the necessary documents, including the LLP agreement, address proof, identity proof, and PAN cards of partners.
Annual Return (Form 11):LLPs are required to file their annual return within 60 days of the closure of the financial year. This includes details about the LLP, partners, and the statement of account and solvency.
Financial Statements (Form 8): LLPs must file their financial statements, including the balance sheet and profit and loss account, with the Registrar of Companies (ROC) within 30 days of the Annual General Meeting (AGM).
Statement of Account and Solvency (Form 8): LLPs are required to file a statement of account and solvency along with the financial statements.
DPIN Update (Form 6): Any changes in the Designated Partner’s Information (DPIN) must be updated with the ROC through Form 6.
Income Tax Return (ITR-V): LLPs need to file their income tax return with the Income Tax Department. The form may vary depending on the LLP’s turnover and other factors.
Auriga Accounting Private Limited in India provides Company Registration at a reasonable price or if Limited Liability Partnership (LLP) Registration from us then we give you a special discount. Our services are value for money and you never paid a penalty. Our clients are all over India i.e., Chhattisgarh, Assam, Maharashtra, Uttar Pradesh, Delhi, Madhya Pradesh, Bihar, and many other states, and they are very happy with us. We also give you time-to-time updates with full transparency.
Steps | Fees |
Digital Signature Fees | ₹ 3000 |
Government fees ( Stamp Duty) | ₹ 1500 |
Professional Fee | ₹ 2499 |
Total cost | ₹ 6999 |
Auriga Accounting might be helpful for businesses or individuals:
Overall, Auriga Accounting can be a valuable partner for businesses and individuals who want to improve their financial management and achieve their goals
The LLP Agreement is a legal document that outlines the rights, responsibilities, and obligations of partners in a Limited Liability Partnership (LLP). It governs the internal operations, profit sharing, decision-making, and dispute resolution within the LLP.
The income tax rate for an LLP is 30% of the total income. Additionally, a surcharge and health and education cess may apply based on the LLP's annual income and the prevailing tax regulations.
LLP compliance under the Companies Act of 2013 refers to the statutory obligations that LLPs must fulfil. This includes filing annual returns, maintaining proper books of accounts, conducting audits, complying with tax regulations, and adhering to other legal requirements.
A partner can be removed from an LLP by following the procedures specified in the LLP Agreement. Generally, this involves obtaining the consent of other partners, executing necessary documentation, updating the LLP agreement, and notifying the concerned authorities.
The LLP registration fee varies based on the authorised capital of the LLP. It is advisable to check the latest regulations or consult our legal experts.
LLP Registration Online is done with the Registrar of Companies (ROC) in the respective state. The registration process is simplified through AURIGA ACCOUNTING. It involves filing the necessary documents, including LLP incorporation forms.
LLPs are treated as separate legal entities for tax purposes. The LLP itself is not taxed, but its partners are individually taxed on their share of profits from the LLP. The tax liability of partners depends on their personal income tax slab rates.
An LLC is a business entity that combines the features of a corporation and a partnership. It is privately owned and managed by its directors. On the other hand, an LLP is a partnership where the liability of the participants is limited to the amount they invest in the business. In an LLP, the directors are also the owners of the firm.
Any two or more individuals or entities, including foreigners/NRIs, can form an LLP. Professionals such as accountants, lawyers, consultants, and others often choose to form LLPs to combine their expertise and limit their liability.
Yes, LLPs are required to file their annual income tax return irrespective of profit or loss. The LLP's income tax return (ITR) must be filed electronically using the prescribed forms and within the due dates specified by the tax authorities.
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