Limited Liability Partnership Registration In Madhya Pradesh

LLP is suitable for Entrepreneurs looking for Limited Liability

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+ Additional Govt Fees
Capital fee : ₹750 /-
Stamp Paper fee : ₹0 /-
2 DIN : ₹0 / -
2 DSC : ₹2400 /-
Quick Registration Professionally by Experts
₹1,999+GST
+ Additional Govt Fees
Capital fee : ₹750 /-
Stamp Paper fee : ₹0 /-
2 DIN : ₹0 / -
2 DSC : ₹2400 /-
Boost up your business along with Registration
₹9,999+GST
+ Additional Govt Fees
Capital fee : ₹750 /-
Stamp Paper fee : ₹0 /-
2 DIN : ₹0 / -
2 DSC : ₹2400 /-
Tutorial Videos to Register business yourself Is Included Tutorial Videos to Register business yourself Is Included Tutorial Videos to Register business yourself Is Included
Entrepreneur Success Training Is excluded Entrepreneur Success Training Is Included Entrepreneur Success Training Is Included
Accounting and Invoicing Software Is excluded Accounting and Invoicing Software Is Included Accounting and Invoicing Software Is Included
Accounting, Invoicing and Compliance Training Is excluded Accounting, Invoicing and Compliance Training Is Included Accounting, Invoicing and Compliance Training Is Included
CRM, Website Builder Software Is excluded CRM, Website Builder Software Is Included CRM, Website Builder Software Is Included
Chatbot, Whatsapp, Email, Social Media Automation Software Is excluded Chatbot, Whatsapp, Email, Social Media Automation Software Is Included Chatbot, Whatsapp, Email, Social Media Automation Software Is Included
Professional Consultation Is excluded Professional Consultation Is Included Professional Consultation Is Included
Incorporation Certificate and LLP Agreement Is excluded Incorporation Certificate and LLP Agreement Is Included Incorporation Certificate and LLP Agreement Is Included
Social Media Presence Is excluded Social Media Presence Is excluded Social Media Presence Is Included
Web Presence Is excluded Web Presence Is excluded Web Presence Is Included
Setting up your accounting process Is excluded Setting up your accounting process Is excluded Setting up your accounting process Is Included
Accept Online Payments Is excluded Accept Online Payments Is excluded Accept Online Payments Is Included

What is Limited Liability Partnership (LLP)?

A Limited Liability Partnership or LLP is a form of business Registration which offers the benefits of limited liability to the partners at low compliance costs.
LLP provides features of a partnership and the company are combined together.
A limited liability partnership is a legal entity, liable for the full extent of its assets
With registration, FoundersCart.in offers real-time updates, Compliance Support, FREE Accounting and Invoicing Software with FREE Legal Consultation.

Difference Between LLP & Partnership Firm

Partnership is an old idea, whereas Limited Liability Partnership (LLP) is a new concept introduced in India under the Limited Liability Partnership Act, 2008. Each partner in the partnership owns a portion of the company. This is a less expensive and more customizable company form than a corporation. LLP combines the benefits of both a partnership with flexibility and lower complaince cost and Pvt. Ltd by limiting the partners' liability.

Advantages

One big advantage is that the partners are not liable personally and cannot be forced to pay a business debt or liability with personal property or assets. Their personal assets would be shielded from all business liability. A partner shall not be personally liable for the wrongful acts or omission of any other partner. After death of a partner, even if the name continues, no liability exist to legal representative

Disadvantages

Limited liability partnerships are not recognised as legal business arrangements in every state, unlike general partnerships. The formation of a limited liability partnership is restricted in some states to professionals such as doctors and lawyers. Another disadvantage is that individual partners are not obligated to consult with other participants in certain business agreements.

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Documents Required For Limited Liability Partnership Registration

For Directors
  • PAN (Permanent Account Number) of all proposed directors (Self attested)
  • Identity Proof (Voter Id, Passport, Driving License) of all proposed Directors. (Self attested)
  • Latest passport size Photographs of all directors.
  • Address proof with Present address Mobile bill OR Telephone bill OR Electricity bill OR Bank Statement not older than 1 Month (Self attested)
For Share Holders
  • PAN (Permanent Account Number) of all proposed Share Holders (self attested)
  • Identity Proof (Voter Id, Passport, Driving License) of all proposed ShareHolders (Self attested)
  • Latest passport size Photographs of all Share Holders.
  • Address proof with Present address Mobile bill OR Telephone bill OR Electricity bill OR Bank Statement not older than 1 month (Self attested)
For Registered Address
  • Electricity Bill along with Rent Agreement OR Ownership proof and NOC

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Please Choose From Below Packages
Register Yourself We will Register for you Register and Grow faster
FREE
+ ₹750 govt fees + ₹2400 dsc fees
₹1999+GST
+ ₹750 govt fees + ₹2400 dsc fees
₹9999+GST
+ ₹750 govt fees + ₹2400 dsc fees
Tutorial Videos to Register business yourself Is Included Tutorial Videos to Register business yourself Is Included Tutorial Videos to Register business yourself Is Included
Entrepreneur Success Training Is excluded Entrepreneur Success Training Is Included Entrepreneur Success Training Is Included
Accounting and Invoicing Software Is excluded Accounting and Invoicing Software Is Included Accounting and Invoicing Software Is Included
Accounting, Invoicing and Compliance Training Is excluded Accounting, Invoicing and Compliance Training Is Included Accounting, Invoicing and Compliance Training Is Included
CRM, Website Builder Software Is excluded CRM, Website Builder Software Is Included CRM, Website Builder Software Is Included
Chatbot, Whatsapp, Email, Social Media Automation Software Is excluded Chatbot, Whatsapp, Email, Social Media Automation Software Is Included Chatbot, Whatsapp, Email, Social Media Automation Software Is Included
Professional Consultation Is excluded Professional Consultation Is Included Professional Consultation Is Included
Incorporation Certificate and LLP Agreement Is excluded Incorporation Certificate and LLP Agreement Is Included Incorporation Certificate and LLP Agreement Is Included
Social Media Presence Is excluded Social Media Presence Is excluded Social Media Presence Is Included
Web Presence Is excluded Web Presence Is excluded Web Presence Is Included
Setting up your accounting process Is excluded Setting up your accounting process Is excluded Setting up your accounting process Is Included
Accept Online Payments Is excluded Accept Online Payments Is excluded Accept Online Payments Is Included

GST @18% : 432

Total : ₹3,582

all govt fee included

GST @18% : 792

Total : ₹5,941

all govt fee included

GST @18% : 2232

Total : ₹15,381

all govt fee included

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Why Choose LLP?

Convenient

Convenient

It is easy to start and manage a business like entrepreneurs. LLP agreements are customized in according to meet the needs of partners concerned. There is fewer formalities in areas of legal compilation, annual meeting, resolution as compared to any other Private Limited Company.

Convenient

No minimum capital requirement. Limited Liability

A limited liability partnership (LLP) can be formed with a little amount of cash. Capital can take the shape of a tangible, transportable item such as land or machinery, or it might take the form of an intangible asset. Liability of the partners is limited to the amount invested in the company.

Convenient

Savings from lower compliance burden.

LLPs have a lower compliance burden because they only have to file two statements: the Annual Return and Statement of Accounts and the Solvency Statement. The Audit requirement comes only after turnover exceeds Rs. 40 lacs or contribution exceeds Rs.25 lacs.

Convenient

LLP Agreement in Place of Partnership deed.

An LLP has the organizational flexibility of a partnership. The provisions dealing with the day to day running of the LLP will normally be contained in a written LLP agreement.

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The journey is full of challenges , there is a lot of competition, and the odds are stacked against survival.

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FoundersCart was created by a team of Chartered Accountants with an Idea to help entrepreneurs overcome these challenges.
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Frequently asked questions

LLP is an alternative corporate business form that gives the benefits of limited liability of a COMPANY and the flexibility of a PARTNERSHIP. Since LLP contains elements of both ‘a corporate structure’ as well as ‘a partnership firm structure’ LLP is called a hybrid between a company and a partnership.

Under “traditional partnership firm”, every partner is liable, jointly with all the other partners and also severally for all acts of the firm done while he is a partner. Under LLP structure, liability of the partner is limited to his agreed contribution. Further, no partner is liable on account of the independent or un-authorized acts of other partners, and registered with Ministry of Corporate Affairs just like company

A basic difference between an LLP and a joint stock company lies in that the internal governance structure of a company is regulated by statute (i.e. Companies Act, 2013) whereas for an LLP it would be by a contractual agreement between partners. LLP will have more flexibility as compared to a company and lesser compliance requirements

You can start a Limited Liability Partnership with any amount of capital. There is no requirement to show proof of capital invested during the incorporation process. Partner's contribution may consist of both tangible and/or intangible property and any other benefit to the LLP.

Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provisions of clause 58 and Schedule III and IV of the LLP Act. Form 18 needs to be filed with the registrar along with Form 2 for such conversion. There are two essential condition to fulfill for this conversion 1) The company has no security interest in its assets at the time of application. 2) The partners of the LLP will be no one but the shareholders of the company.

It will be dealt under the Income Tax and other tax laws separately, prima facie a LLP is taxed as a partnership. The tax rate is flat 30% with surcharge only if income exceeds certain level. The internal structure of the LLP is similar to that of a partnership. The members provide working capital and share any profits. Income derived by the members from the LLP will be closer to that of a partnership than to the dividends paid by companies.

Any two persons who consent to become partners can incorporate an LLP. There is no upper limit of number of partners. Among the partner there has to be two designated partner of which one should be resident in India. FDI investment is allowed similar to Pvt. Ltd. FDI in LLP will be allowed only when there are no FDI-linked performance conditions.

The Unique Number is required to allot to an Individual which remains valid for whole life of the individual and is required to become Partner of any LLP. DPIN and DIN are same. This can be used for registering as director in company. No need to apply separately if you already have a DIN with you.

Firstly we just need to find a unique name as prefix and promoters need to provide a name of the proposed LLP along with the significance of the word. Secondly, the name needs to include a word about the LLP business activity. Finally, before selecting Names it will be advisable to check on Google, MCA Portal, MCA Guidelines and Trade Mark site the availability of Name. Choosing the right name gives lots of brand value. The name must constitute the activity part and do not include words like Co-operative, Sahakari or the equivalent of word 'co-operative'

After filing incorporation details, and if the details are found to be correct then ROC issue certificate of Incorporation. The certificate is issued by Central Registration Centre by the Registrar. The application is accompanied with required documents including the subscriber’s sheet and registered office address proof. The e-form will be attested by the partners through PAN based DSC and certified by the practicing professional (CA/CS/CWA). If you want to do it yourself, we can assist you in getting the certificate at a nominal fee. Just reach out to us.

No, partners are not required to present personally because documents can be filed online at any place.

To incorporate an LLP we required approximately 15 working days. The time taken for incorporation will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure a speedy process of incorporation, please choose a unique name for your LLP and ensure you have all the required documents are provided before starting the incorporation process. Post receipt of you CoI (Certificate of Incorporation), you need to apply for PAN and GST (if required) and then draft the LLP agreement as per the requirement of the partners. This is very important for transparency and growth.

The purpose of introducing LLP was to meet the needs of small business. Hence the Govt fees are significantly lower for LLP than of Pvt. Ltd. Further incidental cost like number of documents that have to be printed on Non-Judicial Stamp Paper and Notarized is lesser for LLP registration

An LLP can own and enjoy property in its own name, partners are not owners of the company's property. LLP is capable, in its own name, of acquiring, owning, holding, disposing of property, whether movable, immovable, tangible or intangible.

Yes, an existing partnership firm or a company that is unlisted can be converted into LLP. There are many advantages of converting a partnership firm into a LLP. Converting a company to LLP one must evaluate the operation model of the entity before proceeding. It has both benefits as well as some inflexibility. We encourage all Partnership to convert into LLP.

If you're ready to register your LLP, then this is the place for it!

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