START YOUR ONLINE REGISTER
Your LLP Now
Avail benefits of a Partnership & a Company. Register your Limited Liability Partnership at Ebizfiling Prices start from INR 5999/-only
Government Fees / Cost For LLP Registration :
ESSENTIAL
₹6999/
(All Inclusive)
2 Digital Signature Certificates
2 Director identification Numbers
Name Approval Application
Stamp duty on NRT Lakh Authorized Capital
Company Incorporation using SPIC
Copy of e-MOA & 40A
E-PAN
E-TAN
ENHANCED
₹ 9999 / -
(All Inclusive)
2 Digital Signature Certificates
2 Director identification Numbers
Name Approval Application
Stamp duty on NRT Lakh Authorized Capital
Company Incorporation using SPIC
Copy of e-MOA & 40A
E-PAN
E-TAN
ULTIMATE
₹ 25399 /-
2 Digital Signature Certificates
2 Director identification Numbers
Name Approval Application
Stamp duty on NRT Lakh Authorized Capital
Company Incorporation using SPIC
Copy of e-MOA & 40A
E-PAN
E-TAN
ENTITY COMPARISON GUIDE
| TYPE | PROPRIETORSHIP | PARTNERSHIP | LLP | PVT | OPC |
|---|---|---|---|---|---|
| Members | Maximum 1 | 2-20 | 2- Unlimited | 2-200 | 1 |
| Legal Status of Entity | Not Considered as separate Legal entity | Not Considered as separate Legal entity | Considered as separate Legal entity | Considered as separate Legal entity | Considered as separate Legal entity |
| Members Liability | Unlimited Liability | Unlimited Liability | Liability of its members is limited | Limited to the extent of share capital | Limited to the extent of share capital |
| Registration | Not Compulsory | Optional / Can be Registered under partnership Act 1932 | Registered Under MCA | Registered Under MCA | Registered Under MCA and Companies Act 2013 |
| Transferability Option | Not Allowed | Not Allowed | Can Be Transferred | Can Be Transferred | Allowed to only one person |
| Taxation | As in Individual | 30% of Company Profit | 30% of Profit Plus CESS and Surcharges applicable | 30% of Profit Plus CESS and Surcharges applicable | 30% of Profit Plus CESS and Surcharges applicable |
| Annual Filings | Income Tax Returns with the Registrar of companies | Income Tax Returns with the Registrar of companies | Filed with the registrar of the company | Filed with the registrar of the company | Filed with the registrar of the company |
PROCESS OF LLP INCORPORATION
ADVANTAGES OF LLP INCORPORATION
FAQ Frequently Asked Questions
Name reservation: The first step to incorporate a Limited liability partnership (LLP) is the reservation of the name of LLP. The applicant has to file eForm 1 for ascertaining availability and reservation of the name of an LLP business.
The Certificate of Incorporation (COI) acts as conclusive evidence of the formation of the LLP. Immediately after securing this certificate, partners can initiate the business proceeding with ease.
The due date for filling this form is 30th October of each FY. Failure to file such a form can attract a penalty of Rs 100/day.
The processing time for incorporating LLP in India takes around 15-20 working days.
As per the central government notification, LLP registered under the LLP Act, 2008 must be treated as a partnership firm or firm under the GST regime.
LLP is not obligated to address taxes on their income & partner's share. Therefore, no dividend distribution tax is addressable as u/s 40(b). However, bonuses, commissions or remuneration, salary payment, Interest to partners do expose to taxes.
A member of such establishments is taxed on his/her profit's share that is reaped by the partnership. For a higher tax rate, the taxpayer, A member of an LLP is, however, taxed on his or her share of the profits that are generated by the partnership. For a higher or additional rate taxpayer, they would therefore pay 40% or 45% income tax on the LLP profits, whereas a company may pay corporation tax at a lower rate (19%).
LLPs in India is mandated to audit their account as per Rule 24 of LLP, Rules 2009. Such rules, among other, states that any LLP, whose annual turnover does not surpass, in any FY, Rs 40 Lacs, or whose contribution does not surpass Rs 25 lac, is not obligated to get its accounts audited.
