We provide an affordable service for Private limited company registration in India with almost nil professional fees. This helps you to save nearly 60% of the total cost without compromising the quality of work.
Our team of trained and experienced graduates takes care of your registration process. Independent qualified professionals further verify the process. We follow a strict concept of Maker and Checker.
We provide a Legal Compliance Dashboard that acts as your secretary for legal work. It intimates you about the upcoming compliances and hence makes sure that you do not miss any of it.
You need to submit our company registration form so that we help you for further procedure.
Send scanned copy of documents and details requires for registration procedure.
After submitting all documents we will provide you with DSC.
We prepare LLP agreement and other forms related to registration.
We will send you all the documents for your verification.
We will submit all forms and documents related to registration of company with ROC on your behalf.
Companies or organizations registering as Limited Liability Partnership are also referred to as LLP. These companies are governed by the Limited Liability Partnership Act 2008. All the partners of the business have limited liabilities in this type of partnership. The partners are not liable for the loss or any misconduct done by another partner.
The Limited Liability Partnership benefits all the partners equally. It includes the advantages of both a partnership and a limited liability company. LLP in India is an ideal structure for professional services firms like financial advisories, marketing agencies, legal services, or consultancy services.
A Limited Liability Partnership registration is one of the simple processes. It’s incorporation and management is easy, unlike the other types of companies.
A Limited Liability Partnership in India can be started by a minimum of two partners and should have at least one Indian citizen as a partner. An LLP is a more systematic form of organization; it also has more credibility as compared to the traditional partnerships for business.
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If you are thinking of starting a business in partnership, then you will be glad to know that starting an LLP is as easy as starting a firm in partnership. The requirements for registering an LLP is like that of a partnership firm.
There is no minimum capital requirement in LLP, unlike the firm established in partnerships. One can incorporate an LLP with the least possible capital also. Additionally, the contribution of partners can, in any form, like money or any other assets.
As per the Limited Liability Partnership Act, an LLP is a separate legal entity like a private limited company. Unlike traditional partnership firm that has unlimited liability, the partners in LLP have restricted liability depending upon the capital contribution.
There are no stringent rules for an LLP to get their accounts audited if the turnover or share capital doesn’t exceed the provided limits. This is beneficial over having a private or public company as there is a mandatory rule to get the accounts audited irrespective of their share capital or turnover.
LLP is eligible under STARTUP INDIA SCHEME and one can take advantage of this scheme provided by the Government of India that is meant for other corporates.
For income tax purpose, LLP is treated in line with a partnership firm. Thus, LLP is liable to pay income tax after providing the effect of a partner’s remuneration as per Income Tax Act. Further, like partnership firm share isprofit is not taxable in the hands of LLP.
Limited Liability Partnership can be started merely by Two Partners and can have as many partners as it wants. However, out of all the partners in LLP at least one of the partner should be an Indian resident Individual.
An Individual or company or any other LLP can become a partner in LLP. In case of Individual partner, his age should be at least 18 years and should not be held liable for any offence. However, an LLP should have at least two individuals as a partner.
Yes, your family members like your brother, sister, parents, or other relatives are eligible to become part of your LLP. But, the people who are minor, criminally prosecuted, bankrupt or not having a sound mind cannot be a part of your LLP.
As per the Limited Liability Partnership Act, every Individual partner of the company should have DIN (Director Identification Number) for incorporating or becoming a partner in LLP. Since all the forms of LLP are to be digitally signed by partners, it becomes mandatory to apply for Class 2 Digital Signature.
No, you can start your limited Liability Partnership from your own or rented home premises. In such a case, the address of home will be treated as a registered office of your firm. Only condition is that such place should be within the territorial boundaries of India.
No, LLP registration with Legal Workmate is an entirely hassle-free online process. There is no need to register or visit any government department. You are only required to notarise your LLP with the nearest available notary in your area after its incorporation.
Yes, there is no restriction of NRI for becoming a partner in LLP. The only condition is that out of all Individual Partners, at least one of them should be Indian resident.
No, LLP doesn’t need to get their accounts audited if the turnover or share capital is below the basic limits. Further, even if there is a requirement for an audit, then our Legal Workmate team will help you with finding the auditor at affordable rates.
LLPs that exceed the turnover of forty lakh rupees, or if the contribution is higher than twenty-five lakh rupees in a financial year, are required to get its accounts audited. ( confirm this with the client).
Tax rates and treatment for both partnership and LLP are same as per Income Tax Law. However in case of partnership firm, if you want to book profit less than 6%/8% of turnover in case of normal business or less than 50 % in case of professional or technical service, then Tax Audit is mandatory under Income Tax Act.
An LLP is required to comply with following things irrespective of turnover : (I) Maintain Books of Accounts. (II) File Income Tax Return. (III) File Annual ROC form.
No, it is mandatory to maintain books of accounts for both partnership firm and LLP. Further, both of them are also required to file Income Tax return. Only difference is that partnership firm is required to do Tax Audit if income is booked lower than given in FAQ 10 whereas LLP is required to get Audit if exceeds limits given in FAQ 9.
Please go through our AMC package for LLP in our compliance tab for details. If you have any query, then please contact us for more information.
An LLP agreement is one that is made between the partners and the LLP regarding the relationship between the individual partners in the LLP and serves the same purpose that MOA and AOA serves. An LLP agreement usually consists of management policies, the inclusion of new partners, policy-making strategies, and so on.
| Private Limited Company | Limited Liability Partnership |
|---|---|
| Should use word Pvt. Ltd at the end of the name. | Should use LLP word at the end of the name. |
| Compliance under Companies Act, 2013 and governed by its MOA &AOA. | Compliance under LLP Act, 2008 and governed by its LLP agreement. |
| Directors managing the business are different from shareholders. So management and Investors can be different. | There is nothing like separate investor and management in LLP. All the partners have the right to intervene in business. |
| Can issue shares to venture capitalist, Employees, private equity investors etc. | Cannot issue shares to venture capitalist, Employees or Investors. |
| Can avail loan against shares of a shareholder. | Cannot avail loan against the contribution of shareholder. |
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PROFINLEX PRIVATE LIMITED
" I'd recommend using legalworkmate if you're a startup or going to start a new business. I'd like to share my experience and it was the best, affordable and professional service. "
SPOT YOUR DESTINATION LLP
" We had a wonderful experience and they were kind enough to adjust when we decide to change plan and other details. Always calm and cooperative even when we keep asking several questions over and over again. Great experience and would surely recommend the service and looking forward for a fruitful and good partnership for times to come. "
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