LLP Registration in Delhi India - Lex N Tax Associates

Limited Liability Partnership (LLP) Registration in Delhi

In today’s scenario the cost of running business is essential to be maintained. For this purpose, the type of business structure and status is focusing area. In current environment of highly inflated market condition, the survival is difficult. In high competitive market condition the type of corporate body structure need to be discussion matter for the business organization. Lex N Tax gives you best LLP Registration Services Delhi NCR.
With the advent of Companies Act, 2013, several exemptions and relaxations available earlier to private limited and unlisted limited companies have been done away with, and the new company law has imposed several restrictions on such companies. Apart from the stringent regulations affecting the day-to-day working of the companies, the new law has also imposed rigorous penalty and prosecution provisions in case of non-adherence to the same. In such a scenario it has become very difficult, challenging and costly to maintain small private limited companies.

Hence the need of the hour is to look forward to other forms of entities for doing business, and Limited Liability Partnership is one of such forms. A Limited Liability Partnership (hereinafter referred to as ‘LLP’) is a corporate business form that provides the benefits of limited liability of a company and the flexibility of a partnership. Hence it may also be referred to as a hybrid between company and partnership. It is governed by the provisions of The Limited Liability Partnership Act, 2008 and related Rules thereon. Ministry of Corporate Affairs has launched various easy form for LLP corporate to initiate and promote LLP in various ways. Lex N Tax Associates provides Best LLP Registration Services in Delhi NCR.

Corporate Tax Planning with LLP

• LLP is a separate legal entity, liability of LLP to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP at the time of partnership;
• LLP has perpetual existence and can continue its existence irrespective of changes in partners. Like company it can enter into contract and register name for legal owner of property;
• No partner shall be held personally liable for any act of the LLP or any of the other partners for the sole reason of being a partner of the LLP. Hence no partner is liable on account of the independent or un-authorized actions of other partners, for this no partner liable for the Act done by another partner or any misconduct;
• There is No MAT applicable on LLP. However, AMT u/s 115JC is applicable in cases where income based deductions are claimed by the LLP;
• No requirement for preparation of consolidation financial statements in case LLP is the holding entity.

In recent days the MCA has launched the new easiest portal for LLP corporates V3 which is online portal. In the newly launched portal the form filing is virtual and easy as compare to earlier. In past the form filling is offline (through PDF form) now has been shifted to online mode to make process more easy as compare to earlier. Lex N Tax provides Best LLP Registration Services in Delhi, LLP Registration Services in Delhi NCR, LLP Registration Services in west Delhi, LLP Registration Services in Jankpuri.

Governing Law & Rules for LLP Registration

• Initially The LLP (Limited Liability Partnership) was introduced through Limited Liability Partnership Act, 2008 in the beginning.
• The LLP Act got the assent of the President on 7th January, 2009 for implementation.
• The LLP Act was notified on 9th January, 2009 in the official Gazette.
• The provisions of the LLP Act came into force on 31st March, 2009 as per notification.
• The Limited Liability Partnership Rules, 2009 were notified by the Central Government in phases since 1st April, 2009 through notice in official gazette.
• LLP Act comprises of 81 Sections and 4 Schedules attached thereto for overall compliance.
• LLP Rules comprises of 41 Rules and related clauses.

Lex N Tax always ready solve your doubts regarding how to apply LLP Registration, LLP Registration Services in Delhi NCR.

Benefits of LLP Registration

• Low cost of formation as compare to other corporate incorporation.
• Easy to establish and application.
• Easy to manage and run LLP.
• No requirement of any minimum capital contribution otherwise specified in any law.
•  No restrictions as to maximum number of partners otherwise specified in any law.
•  LLP and its partners are distinct from each other, LLP not liable for act done by partner.
• Less compliance level as compare to company.
•  Less requirement as to maintenance of statutory records essential record is maintained.
• Less Government Intervention and compliance.
• For professionals’ more suitable and easy to run.
• Renowned form of Business worldwide due to less compliance burden.

Lex N Tax Associates provides you all Benefits of LLP Registration and gives you Best LLP Registration services in Delhi NCR.

LLP Registration Process

Step: I

• Application for Reservation of Name:
  Pre-requisite:
• There must be at least two Designated Partners.
• All the Designated partners must have DIN (Otherwise DIN need to be obtained with DSC of the individual applicant).
• In case of existing DIN, at least one Designated Partner must have DSC.
• All the Partners must have PAN.
• Selection of six (6) names to be proposed for incorporation (name should not resemble with the existing one and should not be match with the existing Trademark in terms of category in which it falls).
• Significance of the name (if not a general one).
• Board Resolution in favour of the Authorized Person (from the Company acting as Partner/Designated Partner).

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Step: II

• Application for Incorporation of LLP:
  Pre-requisite:
• Subscribers’ sheet duly filled up and signed by all designated partners/partners and the witness.
• PAN and Address Proof of the person authorized by the Board (for the Company acting as designated partner/partner).
• Documents pertaining to Registered Office.