Limited Liability Partnership

LLP Registration & Compliance in India

📌 What is a Limited Liability Partnership (LLP)?

A Limited Liability Partnership (LLP) is a hybrid business structure that combines the benefits of a partnership firm and a private limited company. LLPs provide limited liability to partners, while offering flexibility in management and operations, making them ideal for professionals, SMEs, and startups.

LLPs are governed by the Limited Liability Partnership Act, 2008, and regulated by the Ministry of Corporate Affairs (MCA). Partners are not personally liable for the debts of the LLP beyond their agreed contribution.

📌 Key Features of an LLP

• Separate legal entity from its partners; can own assets and enter contracts.
• Limited liability: partners’ personal assets are protected.
• Minimum 2 partners required; no upper limit.
• Flexible profit-sharing arrangement as per LLP agreement.
• No requirement for minimum capital contribution, though contributions must be declared.
• Perpetual succession: LLP continues despite changes in partners.
• Governed under LLP Act, 2008 with compliance obligations like annual filings, tax returns, and bookkeeping.

📌 Eligibility Criteria

• Minimum 2 designated partners, at least one must be a resident of India.
• Partners must have DIN (Director Identification Number).
• Registered office must be in India.
• LLP Agreement must be drafted and filed with MCA within 30 days of incorporation.

📌 Documents Required

• Identity proof (PAN, Aadhaar, Passport) of partners.
• Address proof of partners (utility bill, passport, voter ID, or Aadhaar).
• Proof of registered office (rental agreement, ownership deed, or NOC).
• DSC (Digital Signature Certificate) of designated partners.
• LLP Agreement outlining rights, duties, and profit-sharing ratio.

📌 Advantages of an LLP

1. Limited Liability Protection – Partners are liable only up to their capital contribution.
2. Separate Legal Entity – Can sue or be sued, own assets, and enter into contracts in its own name.
3. Operational Flexibility – Easy to manage compared to a private limited company.
4. Tax Benefits – LLP is taxed as a partnership firm under the Income Tax Act, avoiding dividend distribution tax.
5. Perpetual Succession – LLP continues despite changes in partners.
6. Lower Compliance Burden – Less stringent compared to private limited companies, but still requires statutory filings.
7. Professional Credibility – LLP is recognized legally, enhancing business credibility.
8. Bookkeeping & Accounting – Maintains proper accounts, statutory registers, and annual financial statements.

📌 Our LLP Services Include

1. Incorporation & Registration:

• Name approval and reservation with MCA.
• Drafting LLP Agreement as per Section 23 of the LLP Act, 2008.
• Filing Form FiLLiP (Incorporation Form) for MCA registration.
• Obtaining Certificate of Incorporation (CoI) and PAN/TAN registration.

2. Post-Incorporation Compliance & Accounting:

• Maintaining books of accounts and statutory registers.
• Filing Annual Return (Form 11) and Statement of Account & Solvency (Form 8) as per LLP Act, 2008.
• Preparation of board/partner meeting minutes and resolutions.
• Assistance in audits and statutory reporting if turnover exceeds thresholds under Companies Act or Income Tax Act.

3. Taxation & Advisory:

• Filing Income Tax Return (ITR) for LLP.
• Advisory on GST registration and compliance if applicable.
• Guidance on financial structuring, profit-sharing, and partner contributions.
• Support in tax planning, loan structuring, and statutory compliance.

4. Governance & Risk Management:

• Ensuring compliance with all LLP Act, 2008
• Risk assessment and advisory for operational and financial efficiency.
• Representation before authorities in case of queries or inspections.

📌 Why Partner With India Stat Filing

• Experienced team handling LLP registration, bookkeeping, compliance, and taxation.
• End-to-end support from incorporation to annual compliance.
• Guidance on LLP Act, 2008, Income Tax Act, GST, and MCA regulations.
• Transparent process with regular updates on filings, approvals, and financial statements.
• Expertise in partner agreements, capital contribution management, and operational governance.

📌 Our Commitment

At India Stat Filing, we ensure your LLP is legally compliant, financially organized, and professionally managed. From registration, drafting LLP agreements, bookkeeping, annual filings, and tax compliance, we manage the entire lifecycle so partners can focus on growing their business efficiently and securely.

📞 Get Started Today

Form your LLP with India Stat Filing for comprehensive registration, bookkeeping, statutory compliance, and financial advisory to ensure smooth and legal business operations in India.