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33 Pearls Omaxe, NSP, New Delhi
Call Today
+91 - 9319 920 453
Open Hours
Mon - Sat: 10AM - 7PM
33 Pearls Omaxe, NSP, New Delhi
OPC
Rs.2,999
Pvt. Ltd.
Rs.3,499
LLP
Rs.1,999
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Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. The basic thought behind the introduction of Limited Liability Partnership (LLP) is to provide a Simple form of business entity Which is to maintain while providing limited liability to the owners.The main advantage of a Limited Liability Partnership over a traditional partnership firm is that in a LLP, one partner is not responsible or liable for another partner's misconduct or negligence. A LLP also provides limited liability protection for the owners from the debts of the LLP. Therefore, all partners in a LLP enjoy a form of limited liability protection for each individual's protection within the partnership, similar to that of the shareholders of a private limited company. However, unlike private limited company shareholder, the partners of a LLP have the right to manage the business directly.
Incorporation Documents are prepared and sent for Signatures.
Once ID proofs and signed documents are received, Digital Signature and DIN is applied for Directors
Once all all partners are ready with DIN numbers, Application for Name Approval is filed with MCA, MCA Checks the name availability and approves a name based on Name Guidelines
After name is approved, Documents and Partnership deed is prepared and sent for Signatures. Once signed documents are received, Application of Incorporation is filed with MCA. MCA check and Approves the Incorporation Application.
PAN is applied based on Incorporation Certificate after that TAN is applied Once we receive copy of PAN card
Application is filed with MCA for Registration of Partnership Deed, This need to be done within 30 days from the date of Incorporation
It is very easy to form LLP, as the process is very simple as compared to Companies and does not involve much formality. Compared to other forms of starting business, LLP has been found as the easiest form of incorporating a company and requires fewer hassles.
Just like a Company, LLP is also a body corporate, which means it has its own existence as compared to a partnership. LLP and its Partners are a distinct entity in the eyes of the law. An LLP is known by its own name and not by the name of its partners.
It is easy to become a Partner or leave an LLP or otherwise it is easier to transfer the ownership in accordance with the terms of the LLP Agreement. It is relatively easy to transfer the ownership of an LLP to another person as compared to other business forms.
An LLP exists as a separate legal entity from its partners. Liability for repayment of debts and lawsuits incurred by the LLP lies on it and not on Partners. Forming an LLP is a good way to protect your personal assets from your company's liabilities.
Under LLP, only in case of business, where the annual turnover/contribution exceeds Rs 40 Lacs /Rs 25 Lacs are required to get their account audited annually by a chartered accountant. This provides great relief to small businessmen
Private Limited Company enjoys enhanced transparency thus able to win the trust of general public.
Compared to a Private Limited Company, A Limited Liability Partnership tends to have less compliance to follow.
One Person Company is a Private Limited Structure in the eyes of law, which gives suppliers and customers a sense of confidence in business.
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