Benefits of LLP Registration In India

There are Several Benefits of Incorporating a Business as an LLP.

• It requires less time to set up a business as an LLP, and the process is easy and less expensive.
• Setting up a business as a Limited Liability Partnership provides an organized structure to a business, as it operates based on an agreement.
• Additionally, there are tax benefits also. A business set up as an LLP gets taxed at a lesser rate compared to other business types. LLPs also get exempted from various taxes such as dividend distribution tax and minimum alternative tax.

Government Fees / Cost for LLP Registration In India:

For Registration of LLP, Government Fees Depend on the Contribution of LLP.

• LLP whose contribution does not exceed Rs. 1 lakh Rs. 500/-.
• LLP whose contribution exceeds Rs. 1 lakh but does not exceed Rs. 5 lakhs Rs. 2000/-.
• LLP whose contribution exceeds Rs. 5 lakhs but does not exceed Rs. 10 lakhs Rs. 4000/-.
• LLP whose contribution exceeds Rs. 10 lakh Rs. 5000/-.

Note: There are additional costs as well, such as DIN application fees, stamp duties, and LLP form filing fees.

Limited Liability Partnership (Second Amendment) Rules, 2022

The Ministry of Corporate Affairs has introduced Limited Liability Partnership (Second Amendment) Rules, 2022, making the LLP registration procedure more easier and transparent.

Following Changes Have Been Made Through LLP (Second Amendment) Rule, 2022:

• All the forms of LLP have now become web-based.
• Instead of 2 Designated Partners, there can be 5 Designated Partners (without having DIN) at the time of incorporation.
• Along with the Certificate of Incorporation, LLPs shall be allotted their PAN and TAN.
  A web-based Form 9 shall be made available for filing Consent of Partners.
• The Statement of Account and Solvency shall now be signed on behalf of the LLP by its interim resolution professional.

Documents Required For LLP Registration

• PAN Card/ ID Proof of the Partners
• Photograph
• Designated Partner
• Identification Number
• Digital Signature
• Certificate
• Address Proof of the partners
• Residence Proof of Partners
• Proof of Registered Office Address
• Designated Partner
• Identification Number
• Passport (in case of Foreign Nationals/ NRIs)

LLP Registration With The StartupLab

The StartupLab aims to provide entrepreneurs ease in the company registration in India. As the process is intricate, our team of experts guides you in the entire process of new company registration.

So, register your Limited Liability Partnership with TheStartupLab.