LLP Registration in Delhi NCR

Register Limited Liability Partnership

Limited Liability Partnership entities, the world wide recognized form of business organization has been introduced in India by way of Limited Liability Partnership Act, 2008. A Limited Liability Partnership, popularly known as LLP combines the advantages of both the Company and Partnership into a single form of organization.

Limited Liability Partnership is managed as per the LLP Agreement, however in the absence of such agreement the LLP would be governed by the framework provided in Schedule 1 of Limited Liability Partnership Act, 2008 which describes the matters relating to mutual rights and duties of partners of the LLP and of the limited liability partnership and its partners.

Limited Liability Partnership

It is the best suitable for family own business and the partnership firm with the close-held. Especially when you run micro-business it is easy for you to start with the low cost. Raising equity funds for the company is easily accessible, although the company is not capable of issuing equity funds.LLP also secure your personal assets and distribution of profits shall be written in an agreement in prior. LP's may be suitable when the partners are members of an institute or individual earnings are clearly defined and not simply added to one pot and distributed by dividend

The main advantageous feature Limited Liability Partnership is that there is no double taxation. The profit shall be passed through the LLPdirectly to the partners individually and hence everyone will be liable to pay tax once and that is added to the personal income tax return.

Broadly, the partners of the company under this registration will act like board members who will be heading up to take main decisions in the company. All partners shall enjoy the equal amount of rights in the company's decision making unless being mentioned in the partnership agreement. If you find this to be superfine, then One point Compliance is here to support you by all means. Initially, you must definitely have two members as partners and there is no limit on adding your partners to the firm. Mainly, the documents required for the company is Identity proof, Pan Card, Address proof of all partners. It also would require Office address proof and signed incorporated documents.

There was a new trend evolved among all the entrepreneurs to register their partner company under Limited Liability Partnership. There was Humpty number of reasons why they moved rapidly to Limited Liability partnership. The main advantage is, it is considered as the easiest setup form of organization and in the present competitive world, it has a hassle-free operation. Secondly, it has a lower burdensome compliance and capital investment.

But how does it differentiate from the normal partnership?

Unlike the traditional partnership, LLP is a body corporate and legal entity separate from its partners, have Perpetual succession and any change in the partners of a LLP shall not affect the existence, rights or liabilities of the LLP here the liability of partners is limited. No partner can be withheld as liable for the negligence or misconduct of the other partners. It is more or less, functions as a private limited company but then here the shareholders have rights to manage the business directly. One point Compliance helps you to register your firm under this Limited Liability partnership with the proper mentoring.

LEGAL COMPLIANCE TO BE MET

Bank Account: The owners should start a bank account in the company or firm name.

Identity Proof and Address proof of all partners: Identity proofs and address proof should be submitted mandatory for the company to be incorporated. In case of Indian Citizenship, PAN card should be produced. For foreign Nationals or NRIs, the authorized passport copy will be needed. All documents will be taken for validation. Residence proof documents will enhance the credibility of the documentation.

Business license: The Company should have a registered Office. To prove that you are running the company in a particular place, you must submit a recent copy of electricity bill or water tax bill. The legal agreement signed with your landlord or a deed related in partnering for space shall also be an additional proof of the documentation.

Tax registration: (GST Registration)

From 1st July 2017, the government of India imposed the GST on all the businesses. GST is basically a uniform tax which replaces the various taxes like Service Tax | VAT/CST Registration or TIN Number etc.

Depending on the yearly turnover, getting registered under GST has become mandatory. With a yearly turnover of more than 20Lakhs (10 lakhs for northeastern states) the companies are required to register for GST.

Documents Required for GST registration:

1 Aadhar Card Copy

2 Pan Card Copy

3 Personal Bank Statement Copy/Cancelled Cheque

4 Copy of Electricity Bill of owner's office or business premises.

5 Passport Size Photograph


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Why Have A Limited Liability Partnership

Low Registration Cost

There is no huge capital to be invested in registering the company. While other firms and organization do have a certain investment which is higher that LLP. Hence only the annual returns, statement of accounts and solvency shall be submitted at the end of every year.

Organization Structure

An LLP has partners, who own and manage the business. This is different from a private limited company, whose directors may be different from shareholders. For this reason, foreigners do not invest much in the LLP structure. The partners are free to draft the agreement as they please, with regard to their rights and duties.

Owners are Investors

One of the greatest things of a limited liability partnership is that there is no limit on a number of owners that can be involved with the business. This is great because it evenly spreads out the amount of liability that each partner can have if something were to go wrong with the business.

Space for Professionalism

Limited Liability Partnership is an alternative for the corporate business vehicles to carry the value across. The hybrid structure of LLP has attracted many professionals and entrepreneurs to design and designate their role perfectly in a company. It produces a standard partnership with the proper agreement.

Most Competitive Pricing

Documents Required for GST registration:-

# 1 Aadhar Card Copy

# 2 Pan Card Copy

# 3 Personal Bank Statement Copy/Cancelled Cheque

# 4 Copy of Electricity Bill of owner's office or business premises.

#5 Passport Size Photograph


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