LLP Registration

LLP Registration

What is LLP Registration?

LLP refers to Limited liability partnership and is governed by the Limited Liability Partnership Act 2008. Limited Liability partnership provides the advantage of limited liability to its owners and at the same time requires minimal maintenance. The directors of any private limited company have limited liability to creditors. In case of default, banks/creditors can only sell the company’s assets and not the personal assets of directors.

Advantages of LLP Registration

Minimum Requirements For LLP Registration

  • Minimum 2 Partners
  • No Capital Requirement
  • At least one Designated Partner as Indian Resident
  • DPIN for All Partners

Documents Required for LLP Registration

What are the Annual Compliance after LLP registration

After incorporation of the LLP firm, one has to comply with the rules and regulation of Ministry of Corporate affairs and all compliances should be done within time period because in case failure of compliances you may have to pay a huge fine for this so be aware. Also, after the incorporation of your LLP, you have to file your Annual statement to the MCA because it is compulsory and also you have to file your Profit and Loss statement to the MCA. After incorporation of LLP, you need to comply with the rules and regulation of the Income-tax department also because it is compulsory. You mandatorily have to file Income tax of your LLP and also you have to make a PAN card for your LLP because without PAN you cannot file your income tax return. For more info visit here on LLP Annual Filing Details.