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Limited Liability Partnership

Decoding LLP: Unveiling the Significance of Limited Liability Partnership

LLP, or Limited Liability Partnership, stands at the crossroads of a traditional partnership and a company, blending features from both spheres. The evolution of LLP finds its roots in the simplicity of formation and easy maintenance, making LLP registration an attractive choice. One of its hallmark features lies in empowering owners to curtail their liabilities, distinguishing it significantly from a conventional partnership.

Incorporating an LLP encapsulates the best of both worlds — embracing the limited liability attributes akin to a Private Limited Company while retaining the flexibility inherent in a Partnership Firm. Noteworthy is the pivotal advantage: no partner bears liability for the unauthorized actions of their counterparts. This shields individual partners from joint liability arising from the misconduct of another partner. This unique form of organization finds favor among professionals, micro and small businesses, particularly those that are family-owned or closely-held.

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Seamless Evolution: LLP Registration Simplified with the LLP (Second Amendment) Rules, 2023.

In a landmark move, the Ministry of Corporate Affairs (MCA) has ushered in a new era of simplicity and transparency in the Limited Liability Partnership (LLP) registration process through the LLP (Second Amendment) Rules, 2022. Embracing a web-based approach, all LLP forms are now easily accessible online, streamlining the entire registration procedure.

Noteworthy Changes and Benefits:
  • - Expanded Designated Partners:
    LLP incorporation now allows for up to 5 Designated Partners without the need for a Designated Partner Identification Number (DPIN). This is a significant increase from the previous limit of 2.
  • -Streamlined PAN and TAN Allotment:
    LLPs will now be allotted their Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) alongside the Certificate of Incorporation. This eliminates the need for a separate application for PAN and TAN, ensuring a more efficient process.
  • - Simplified LLP Registration Process:
    The LLP registration procedure is now more user-friendly, enabling online filing of incorporation forms. This not only expedites the process but also enhances convenience for applicants.
Key Steps in the Online LLP Registration Process:
  • 1- Obtain Digital Signature:
    Secure a digital signature for authentication purposes.
  • 2- LLP Name Application through RUN-LLP:
    Submit the LLP name application through the web-based RUN-LLP platform.
  • 3- Incorporation of LLP (Form FiLLiP):
    This step includes applying for Designated Partner Identification Numbers (DPIN), as well as PAN and TAN. Notably, up to 5 Designated Partners can be appointed without the need for DPIN.
  • 4- File LLP Agreement:
    Complete the registration process by filing the LLP agreement online.

Documents Required for Private Limited Company registration

Quick Checklist

  • Photograph of all the Directors
  • PAN Card of all the Directors
  • ID Proof of the Directors (Driving License/Passport/Voter ID)
  • Electricity Bill or any other utility bill for the address proof of the Registered Office.

Specific Requirements

  • An Limited Liability Partnership must have a registered office in India. Documents like bank statement or electricity bill should not be older than 2 months. Along with that utility bill, rent agreement or sale deed and a No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of an LLP must be submitted.

Advantages of LLP

Points to make your decision easy:

No Minimum Capital

LLP Audit

Easy Transfer

Separate Legal Entity

LLP Tax Benefits

Multiple Relationship

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Expertise and Experience:

By choosing our private limited company services, you gain access to a team of experts with extensive experience in managing the intricacies of private limited company operations.

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Comprehensive Compliance:

We ensure that your private limited company complies with all relevant legal and regulatory requirements.

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Efficient Financial Management:

Our services extend beyond compliance to efficient financial management. We assist in bookkeeping, financial reporting, and budgeting, empowering your company with accurate and timely financial information to make informed decisions.

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10+ years of experience

Experienced firm with 10+ years of expertise providing comprehensive financial services, ensuring accuracy, compliance, and cost-effective solutions all types of businesses

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Personalized Advisory Services:

Partner with us for personalized advisory services that guide your company to success, offering insights and strategies to navigate challenges and seize opportunities.

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1000+ projects completed for India

We have successfully completed a wide range of projects including bookkeeping, Payroll, VAT, financial statement preparation and tax compliance for Businesses.

Professional Accounting Experts Are Just A Click Or A Call Away!

Let us handle your bookkeeping with precision, freeing you to concentrate on your core business. Clients typically achieve substantial cost savings when utilizing our services.


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