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Benefits Of llp registration

No Minimum Capital

No minimum capital is required for LLP Formation. No minimum capital contribution required from partners. A Limited Liability Partnership can be registered even with Rs. 1000 as total capital contribution.

LLP Audit

In the case of LLP, no mandatory Audit is required. The audit is required only when the turnover of the company exceeds Rs 40 lakhs and where the contribution exceeds Rs 25 lakhs.

Easy Transfer

Interest in Limited Liability Partnership can easily be transferred by introducing new Designated Partner in LLP and it will not affect its existence As it is a separate legal entity.

Separate Legal Entity

LLP enjoys the benefit of Separate Legal Identity in the eyes of law which clearly states that assets and liabilities of the business are not the assets and liabilities of the Partners.

LLP Tax Benefits

It is also exempted from various taxes such as dividend distribution tax and minimum alternative tax. The rate of tax on LLP is less than as compared to the company

Multiple Relationship

A person can be a partner, employee or creditor of an Limited Liability Partnership. There may be different contracts with the same person in different capacity.

Documents Required For llp registration

PAN card of all partners
Aadhar card/ voter’s ID/ passport/ driving license
Latest bank statement/ telephone bill/ mobile bill/ electricity bill/ gas bill
Passport-size photograph
Office Utility bills (telephone bill/ mobile bill/ electricity bill)
Rental agreement
No-objection certificate from the property owner

Steps for llp registration

Obtaining DSC And DIN
Application For Name Approval
LLP Agreement
LLP Incorporation Certificate
Apply for Your PAN, TAN, & Bank Account

What All You Get From llp registration

DPIN for 2 Partners
Digital Signature for 1 Partner
Incorporation Certificate
LLP Agreement
Bank A/C Opening Document Support