Advantages of LLP company registration
The LLP company registration does offer numerous benefits but the main benefit which as the owner is the legality. So, let’s have a look over the benefits of registering LLP.
- Legal Identification:- LLPs are administered as separate legal entities. So, the partners and LLP are different from all others in the eyes of the law. So, according to LLP rules, no partner is responsible for other partner misconducts.
- Minimum Capital requirements:- Registration offers a benefit of no minimum capital requirements to commence an LLP firm registration and its incorporation.
- Count of partners:- The least amount of members require to incorporate the LLP company are 2. But there is no limit to maximum number of partners.
- Taxation Benefits :- Limited liability partnership is considered as 'Partnership Firm' for Taxation purpose.
- Transfer of ownership is easy:- There are no barriers upon joining and leaving LLP. It is easy to introduce a partner and leave the firm or transfer of ownership. So, No long procedure and documentation submission requires in LLPs.
- Auditing:- Auditing of LLP in India is needed only if the contribution exceeding 25 lakhs or yearly turnover exceeding 40 lakhs.
Requirements to Register an LLP
- Minimum 2 Designated Partners (18 years and above age)
- No Capital Requirement
- At least one Designated Partner as Indian Resident
- DPIN for all Designated Partners
What we provide in Package?
- Name Approval
- MCA Registration Process
- PAN of LLP
- TAN of LLP
- Partnership Agreement
- Designated Partners DPIN
- Certificate of Incorporation
- Any of Designated partner's Digital Signature Certificate
- Post Registration Support
- CA/ CS Services Support
Annual Compliance:
All LLPs are required to endure compliances and file certain statutory filing with the Government every year.
It is Mandatory for an LLP to file:-
1. Annual Return
2. Statement of Account and Solvency
3. Income Tax Return
4. Applicable MCA/ ROC and any other Regulatory Authority, Filing/Compliance.
For More Details and Service Contact Us On info@thecompanywala.com
Disclaimer:- The materials provided herein are solely for information purposes and shall not be treated as solicitation in any manner and for any other purpose whatsoever. It shall not be used as legal opinion and not to be used for rendering any professional advice. The material s written on the basis of the provision applicable as on date of writing of this article.