The concept of the Limited Liability Partnership (LLP) was introduced in India in 2008. An LLP has the characteristics of both the partnership firm and company. The Limited liability Partnership Act, 2008 regulates the LLP in India. Minimum two partners are required to incorporate an LLP. However, there is no upper limit on the maximum number of partners of an LLP.
Among the partners, there should be a minimum of two designated partners who shall be individuals, and at least one of them should be resident in India. The rights and duties of designated partners are governed by the LLP agreement. They are directly responsible for the compliance of all the provisions of the LLP Act, 2008 and provisions specified in the LLP agreement.
Here are the major reasons why people prefer the structure of an LLP for their business structure:
The members of an LLP are only liable for a small amount of debt incurred by it. On the other hand, for proprietorships and partnerships, the personal assets of directors and partners are not protected if the business goes bankrupt.
An LLP is a separate legal entity from the partners in it. It has an uninterrupted existence that follows perpetual succession, i.e., the partners might leave, but the business remains. The terms of dissolution have to be mutually agreed upon for the firm to dissolve.
Transferring the ownership of an LLP is also simple. A person can easily be inducted as a designated partner and the ownership switches to them.
Suitable For Small Business
Listed below are the documents required for the limited liability firm registration process.
*Note : One partner must self-attest the first three documents. In the case of foreign nationals or NRIs, all the documents must be notarized (if currently in India or a non-commonwealth country) or apostilled (if from a commonwealth country).
Incorporating LLP Company in India is simple and easy with Tax Salah. Below are the steps to start Limited Liability Partnership Firm.
Raise service request by simply filling our easy to use online form to get started in 3 seconds.
We instantly assign a dedicated manager for your service who helps you throughout entire job cycle.
Submit required documents, make partial payment & track job progress in realtime.
Get your job done within the timeline provided and start building a great business.
“Best and fast service, got the actual service in a very much professional way. A big thumbs up to the team for providing the best quality service.Thanks again.”
Siya Ghosh
“One of the best sevices out there. Their sales manager shrabanti is an one woman army who tackles sales to after sales services all of it. Good luck to you!”
Pradipta Mukherjee
“What a amazing service, thanks for everything you helped me. I was so tended with my company but you help us and made our process so swift and easy”
Sayantan Ghosh
“Awesome service provider, I am overwhelmed,and can assure that it is one of the best tax consultant in the city”
Jayanti Ghosh
“I have got good experience with tax Salah.. All the staffs are very helpful regarding my Dought. I have got instant service from them. Once more to tax Salah team to coordinate 24*7”
Taushif Adil
“ Highly recommend it to everyone. Tax Salah helped me with LLP Registration, Excellent Support and Customer Service.”
Sukanya Ghosh
The registrar of companies (RoC) across India expect applicants to follow a few naming guidelines. Some of them are subjective, which means that approval can depend on the opinion of the officer handling your application. However, the more closely you follow the rules listed below, the better your chances of approval. First, however, do ensure that your name is available.
If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.
No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
You can use (TM) mark as soon as the Trademark application is filed and you receive acknowledgement receipt. (R) mark can be used once trademark is registered.
Trademark, the word is a combination of TRADE and MARK, means a mark which is used in trade, commerce or business.If you close down your business, in legal sense, if you do not carry on any business under your trademark then it will cease to exist. However in practical sense the trademark registry will continue to show your trademark alive unless it is withdrawn by you or it expires after 10 years of registration, due to non-renewal.
Every 10 years the trademark to be renewed, so that you can use your trademark for indefinite time.
An entity liable to be registered under GST should apply for registration within 30 days of meeting the criteria. Casual taxable persons and non-resident taxable persons are required to be registered under GST prior to commencing business.
The primary authorized signatory is the person who is primarily responsible to undertake tasks on the GST portal on behalf of the taxpayer. It could be the promotion of the business or any other trustworthy person nominated by the promoters of the business.
Yes, PAN is mandatory for obtaining GST registration. In the case of proprietorship, the PAN of the proprietor can be used. In the case of LLP or Company or Trust or other types of a legal entity, PAN must first be obtained for the entity. However, PAN is not mandatory for the GST registration of foreigners and foreign companies. For non-resident taxable persons, GSTIN with a fixed expiry date will be provided based on the other documents provided to prove existence.
Yes, you need to file. There is a difference between filing income tax return and deducting TDS. You file a tax return as a proof of the payment of all the taxes due. The IT return would also help you while applying for a visa or a loan.
You can make the payment directly to the Government on the official website of the IT Department. You may pay through net banking, along with Challan 280.
Yes, You can file delayed IT returns for all the years lapsed so far.