2. About LLP (Limited Liability Partnership)
LLP, a legal form available world-wide, introduced in India and is governed by the
Limited Liability Partnership Act 2008, with effect from April 1, 2009
Limited Liability Partnership (LLP) is a corporate business vehicle that provides
both the benefits of a company and partnership firm i.e. limited liability and
allows its members the flexibility of organizing their internal structure as a
partnership based on a mutually arrived agreement.
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3. Salient Features
•Body corporate and separate legal entity from its partners
•Liability of partners limited to their contribution
•No requirement of minimum capital contribution
•Perpetual existence irrespective of changes in partners
•Rights and duties of partners shall be governed by an agreement between partners.
•Minimum two partners require as of whom at least one shall be resident in India.
•No restrictions as to maximum number of partners
•No requirement of audit if contribution from partner does not exceed Rs 25 Lacs OR
annual turnover does not exceeds Rs 40 Lacs.
•A firm, private company or an unlisted public company can also be converted into LLP.
•The Indian Partnership Act, 1932 shall not be applicable to LLPs.
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4. Benefits of LLP over limited company & Partnership firm
Benefits of LLP over Limited Company
•Corporate Dividend Tax (CDT) not applicable
•Lower cost of formation
•Lesser compliance requirements
•Easy to manage and also easy to wind up and dissolve
•No requirement of minimum capital contributions
Benefits of LLP over Partnership Firm
•Partners of LLP not personally liable for the obligations of entire partnership.
•Foreign nationals can be partners in a LLP unlike in partnership firm
•A separate legal personality distinct from its partners, can own assets in its name, sue and
be sued.
•An LLP is taxed as a partnership, but has the benefits of being a corporate
•No upper limit on number of partners in an LLP
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5. How to place an order with us for LLP Registration
1. Open the URL – www.companiescart.com
2. Click on the tab –LLP Registration
3. Get Quote for your LLP Registration by pressing on “ Pricing” tab.
4. Get Quote- first Select your state & Contribution and Press “Submit” tab
5. Place the Order by filing few details and make the payment.
6. After our Executives will be in touch with you till your LLP Registered.
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