LLP Registration

Register your Limited Liability Partnership at GST Wala only @1999. More than 5000 businesses trust us to register their LLP and keep their business compliant with the law. So, you are just a click away from getting the fastest and most affordable way to get LLP Registration in India. @1999/-

DPIN and DSC
LLP Agreement
Fees & Stamp duty
LLP Incorporation Certificate
LLP PAN and TAN
ZohoBooks subscription
Filing of Form -3

Limited Liability Registration (LLP) Registration in India

In India, the concept of Limited Liability Partnership was introduced in 2008 by the LLP Act, 2008. In India, LLP has become the most preferred form of business among entrepreneurs. Registering an LLP in India has both the limited liability features of a Private Company and the flexibility of a Partnership Firm. No partner is answerable on account of unauthorized or illegal actions of other partners, thus individual partners are protected from joint liability created by another partner’s wrongdoing. LLP is generally preferred by professionals, Micro & Small businesses that are family owned or closely held. In 2022, the MCA (Ministry of Corporate Affairs) introduced LLP (Second Amendment) Rules, 2022 and it has made the procedure of LLP Registration even easier & transparent as now all the LLP Forms will be digital-based forms. Also, with the LLP (Second Amendment) Rules, 2022, Limited Liability Partnerships shall be allotted their TAN & PAN along with the Certificate of Incorporation itself.

What is a “Limited Liability Partnership” or “LLP”?

LLP or Limited Liability Partnership has become a popular form of organization among entrepreneurs in India. A Limited Liability Partnership gives the benefits of a Company & a Partnership Firm. An LLP in India is a Partnership Firm established by at least 2 Partners who enter into an LLP Agreement. However, the LLP Partner have limited liability and the LLP has perpetual succession just like a Company.

What are the Features of an LLP in India?

The following are the features of an LLP in India:

It’s a body corporate & legal entity separate from its members
The members of an LLP have a limited liability, limited to their agreed contribution to the LLP
It has the organizational flexibility of a Partnership
It has a perpetual succession, it continues to exist even after the founding partners leave the organization. All it requires is to have at least 2 partners
Its accounting & filing requirements are similar to that of a Company
Less compliance and regulations
No requirement for minimum capital contribution
At least one partner must be a resident of India
There is no upper limit on the maximum number of Partners

Benefits of LLP Registration in India

The following are the benefits of LLP Registration in India:

1. Low Cost and Less Compliance:

The overall cost of establishing a Limited Liability Partnership is low compared to the cost of registering a Private or Public Limited Company in India. The compliances to be followed by the LLP are also low. The LLP needs to file only 2 Statements yearly (i.e., an Annual Return and a Statement of Accounts and Solvency.

2. Liabilities are limited:

Limited Liability Partnership provides a limited liability benefit to all the designated partners. In case of s business insolvency or loss, the partners’ liability is restricted to the capital contribution as per the LLP agreement. Moreover, one partner is not held responsible for the actions of negligence/misconduct of any other partner.

3. Separate Legal Existence:

Just like a Company, an LLP has a separate legal entity. The Limited Liability Partnership is different from its partners. An LLP in India can sue & be sued in its own name. The Contracts are signed in the name of the Limited Liability Partnership (LLP) which helps to gain the trust of various stakeholders & gives the customers and suppliers a sense of confidence in the business.

4. Tax Benefits:

It is also exempted from various taxes like DDT (Dividend Distribution Tax) & Minimum Alternative Tax. The tax rate on LLP is less than that of the Company.

5. No Minimum Capital:

For the LLP formation in India, no minimum capital is required. No minimum capital contribution is required from partners. An LLP can be incorporated even with Rs. 2000 as a total capital contribution.

What are the Different Types of LLP Forms in India?

Following is the list of all types of LLP Forms in India:

1

FiLLiP Form

This form is used for the incorporation of LLP in India.

2

Run LLP

This form is used for reserving a name for the LLP.

3

Form 3

Details regarding LLP Agreement.

4

Form 8

Statement of Account & Solvency.

5

Form 11

Annual Return of LLP.

6

Form 24

This is the application to the ROC for striking off the name of LLP.

Checklist for the LLP Registration

Following is the checklist for LLP Registration in India:

Minimum 2 Partners are required
Digital Signature Certificate for all the proposed Partners
DPIN (Designated Partner Identification Number)
LLP Name which is not similar to any existing LLP
LLP Agreement between the Partners
Proof of registered office of the LLP
Capital contribution by the LLP Partners

What are the vital documents required for LLP Registration in India?

Documents of all the Partners

1: PAN Card or Identity Proof of all the Partners

All the designated Partners are required to provide their PAN and it acts as a primary identity proof.

2: Address Proof of Partners

For the address proof, Partners can submit any one document out of Passport, Aadhar Card, Voter’s Id, or Driving License. Name & other information as per address proof & PAN Card should be the same. If the spelling of one’s own name or father’s name or DoB is different in PAN Card & address proof, it should be corrected before submitting to the Registrar of Companies.

3: Partners Residence Proof

Latest telephone bill, electricity bill, bank statement, or gas bill should be submitted as residence proof. Note: Such bills should not be more than 2-3 months old & must contain the Partner’s Name as mentioned in the PAN Card.

4: Passport sized-photos

Partners should also provide their latest passport size photos

5: Passport

For becoming a Partner in a Limited Liability Partnership, NRIs & Foreign Nationals have to submit their passport mandatorily. Passport has to be notarized by the concerned authorities in the country of such NRI & Foreign Nationals, else the Indian Embassy located in that country can also sign the documents.

Proof of Registered Office Address:

If the registered office is taken on rent, an NOC & a Rent Agreement from the landlord has to be submitted. NOC will be the consent of the landlord to allow the LLP to use the place as a registered office.
Submit the latest utility bills like electricity, gas, telephone bill, etc. and the bill should contain the complete address of the premise & owner’s name & the document should not be older than 2 months.

Know the LLP Registration Process

Following is the step-by-step procedure for LLP Registration in India

1: Obtain DSC

We already know that the documents for LLP Registration are filed online & are required to be digitally signed. So, before starting the LLP Registration process, you must apply for the Digital Signature Certificate (DSC) of the designated Partners of the proposed LLP. Hence, the designated Partner must obtain their DSCs from the Government-recognized certifying agencies.

2: Get DIN

After obtaining DSC, then you need to apply for DPIN of all the proposed Partners or those wanting to be designated Partner of LLP. The application for the allotment of DIN has to be made in Form DIR-3

3: Application for Name Approval

LLP-RUN application form is for the name reservation of the Limited Liability Partnership. But before applying for the name reservation, it is necessary to use the free name search facility on MCA Portal. The system will provide the list of closely resembling names of existing companies/LLPs based on the search criteria. This will definitely help you choose names not identical to already registered names. The Registrar will approve the proposed name only if the name is not undesirable in the Central Government’s opinion & doesn’t resemble any existing Partnership Firm or an LLP or a body corporate or a Trademark.

4: Filing FiLLiP Form

For the LLP Registration in India, you need to file a FiLLiP Form and submit it to the Registrar who has jurisdiction over the State in which the registered office of the LLP is situated. The Form will be an integrated form. This Form is also used for allotment of DPIN, if a person who is to be appointed as a designated partner doesn’t have a DPIN or DIN. The application for reservation may be made via FiLLiP too. In case the name is approved, the name shall be filled as the proposed name of the Limited Liability Partnership.

5: File LLP Agreement

This Agreement governs the mutual rights & duties amongst the Partners & also between the LLP & its Partners. LLP Agreement must be filed in Form-3 online, Form-3 for the LLP Agreement must be filed within 30 days of the Incorporation. This Agreement has to be printed on stamp paper. The value of Stamp Paper is different for every state.

6: Apply for PAN, TAN, and Open a Bank Account

Once you get the Certificate of Incorporation we will apply for the PAN, TAN and Bank Account for your Limited Liability Partnership.

LLP Compliance

All LLPs incorporated in India are required to file statutory returns with MCA every year. Limited Liability Partnerships having a sales turnover of over Rs. 40 lakhs or capital of over Rs. 25 lakhs will also be required to complete a statutory audit. GST Wala can help you maintain your LLP Compliance at a very affordable price.

Forms	Compliance	Due Date	Penalty
DIR-3 KYC	For every individual with DIN	Before 30th Sep every year	Rs. 5000 if the DIN is deactivated
Form-11	Annual Returns	30th May	Rs. 100/day
Form-8	Statements of Accounts & Solvency	30th October	Rs. 100/day

FAQs

Q1. How do I register for LLP?

To register for the LLP, you may follow the given steps: apply for the DSC < apply for the DIN < draft the LLP Agreement for the partners to sign it < Fill Form-2, Form-3, and Form-4 along with attaching the LLP agreement < pay the LLP registration fee < application verification process will take place < once verified, you will receive the certificate for incorporation.

Q2. Who are eligible for LLP?

Individual eligible to conduct business in Indian Region is eligible for LLP registration if that individual is accompanied by another eligible partner with Indian Citizenship

Q3. What LLP means?

It is one of the eight forms of company structures available for business registration under Companies Act 2013. It stands for Limited Liability Partnership.

Q4. Is it compulsory to register LLP?

Any business needs to be registered in order to avail benefits offered by the government. In order to register, it is important to check is the business nature and operation is matching the eligibility frame for registering as LLP. Important to note that any business can only be called as an LLP, if it is registered.

Q5. Is LLP better than Pvt Ltd?

LLP has distinctive features and benefits than that of a Pvt. Ltd. Such as that of registration process asking for MoA and AoA, where there is no such requirement in LLP registration. Moreover, the LLP registration process is quite convenient to be followed than that of a Pvt. Ltd. However, Pvt. Ltd. Is the most sorted and organized form of company.

Q6. Is LLP better than partnership?

LLP is a form of partnership which is based on the partnership deed signed between the partners who are intending to work together in a business. It is basically a bridge between the private limited company and a partnership firm with perks of a private limited and functioning of a partnership firm.

Q7. What are the disadvantages of LLP?

LLP is not allowed to raise equity investment which eventually narrow down the capital investment options. Moreover, the income tax rate is bit higher for the LLP in comparison to that of a private limited company.

Q8. What is the advantage of LLP?

You may proceed ahead with LLP registration owing to its wide range of benefits such as no capital requirement, minimum two directors, less registration cost, less complex process, etc.

Q9. What is the tax slab for LLP?

In case the turnover is up to Rs. 250 Cores, the tax slab for the LLP raises to 30%.

Q10. Who pays the debts of a LLP?

The partners of the LLP are responsible for the payment of the debts. However, the personal debts of the partners cannot be touched upon for the debt recovery unless the case is of the fraud or cheating. The recovery is only done from the capital contribution of the partners.