It is to be noted that Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. Very first idea behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business entity that is simple to maintain while providing limited liability to the owners.
In today’s economy, LLP is considered as one of the easiest types of business to incorporate and manage in India. Also with an easy incorporation process and simple compliance formalities, LLPs are preferred by Professionals, Micro and Small businesses that are family-owned or closely-held.
What is the difference between a Private Limited Company and a LLP?
The difference can be drawn considering the following important aspects:
– Cost: The cost for the incorporation of a private limited company or an LLP
Features: Both LLP and Private Limited Company offers more of the less the same features. LLP and Private Limited Company are both separate legal entities and have assets and liabilities that are separate from that of the promoters.
LLP and Private Limited Company are both transferable, though a Private Limited Company offers more flexibility when it comes to transferring or sharing of ownership.
Bashmakh & Co will reach out to you for the collection of the necessary information or documents for registration of LLP. The data can be submitted online through our mobile app or website.
Further the process for obtaining the Digital Signature Certificate tokens for the Partners of the LLP would be initiated. On submission of the digital signature application, the applicant would have to complete OTP verification and a video KYC check. Simultaneous to the digital signature application process, we also file a request with the MCA for reserving the name of the LLP that you had selected.
On obtaining the name approval and the digital signatures, we would draft all the incorporation documents for the registration of the LLP and sent it to the Partners for signature
In continuation to the above we take up several other step and reach out for MCA approval and finalizing the registration process. In addition Bashmakh & Co. provides Post incorporation services like maintaining the basic accounting and compliance for your LLP. Also we at our desk of experts and trained personnel will undertake filing of Income Tax Returns for LLPs as well as MCA Annual Return filings too.
Get call us for LLP Registration fees in Mumbai. We are here with expert team to help you in this.
minimum two number of partner require to start LLP
There are annual filling in LLP. Annually Form 8 and Form 11 is to be filled online after finalizing books of accounts
a. Lower cost for registration as compared to PVT/Public LTD
b. No limit for maximum no. of partners
c. No limits for contribution
d. Audit is not compulsory
a. Filling LLP form 24
b. Close bank a/c
c. Cease commercial activity
d. Prepare documents, affidavits & declaration
e. File any pending documents
f. Obtain CA certificate
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