Minimum 2 Partners are needed to Register an LLP in India, both partners should be the resident of India.
Partners have to apply for the DSC ( Digital Signature Certification), its needed while filings forms & also in future while filing ROC Return and many other things.
Partners have to apply for DIN Number that is mandatory to apply for partnership in Limited Liability Partnership Firm.
Registration Partners have to apply for the Name Application in ROC through the MCA Portal. Then ROC Approved the Name after the verification depends upon that there is no registered same name of other company or trademark.
Some forms are filled on MCA Portal after the name verification. During the Filings of forms we have to ensure about all the other things because when there is the chance of resubmission then we have to file again.
After Verification of the forms, ROC issued the main Certificate of Incorporation i.e is proof of the registration. After Receiving Certificate of Incorporation we have to open a current bank account in the name of LLP.
After Receiving of Certificate of Incorporation we have to File LLP Agreement to the ROC Office through MCA Portal. LLP Agreement is like a partnership firm agreements in that contain all the details regarding the partners.
We're always there for all your questions, here are the answers to some very common questions
The Limited Liability Partnership (LLP) is a company/firm which offers the benefits of both the partnership firms and the incorporated limited liability companies. In India, these LLPs are registered and regulated as per the LLP Act of 2008, and the LLP Rules of 2009.
An LLP has no limit to the maximum number of partners. In the case of a private limited company, the maximum number of the shareholders has been kept at 200.The cost of incorporation of an LLP is lower than that for incorporation of a private or public limited company.
The LLP shall be a body corporate and a legal entity separate from its partners. Any two or more persons, associated for carrying on a lawful business with a view to profit, may by subscribing their names to an incorporation document and filing the same with the Registrar, form a Limited Liability Partnership.
Yes, a salaried person become the director in LLP, there are no legal bondages in this, but you have to go through with your employment agreement if it contains any restrictions on doing so. For government employee that is not possible if he/she is in a job.
For the purpose of taxation, LLPs are treated like Partnership Firms. The tax applicable to an LLP in India is 30%. In case, when the income of the LLP exceeds INR One Crore in any financial year, then Surcharge @ 10% will be applied.
There is any change in Partner and DP (admission, resignation, cessation, death, expulsion) should be filed e- form 4 within 30 days of change with fees. And also Supplementary LLP Agreement to be filed e- form 3 with ROC within 30 days with fees given the alteration in mutual rights and duties of partners and Form 4 shall include a statement signed by the incoming partner that he consents to become a partner.
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