LLP Registration in India – Complete Process, Documents & Fees
Limited Liability Partnership entities, has been introduced in India by way of Limited Liability
Partnership Act, 2008. In LLP, one of the most important benefits is that all partners are not
responsible for the misconduct or negligence of another partner. In Limited Liability Partnership,
the liabilities of the partners are limited up to their contribution to LLP; personal properties are
not attached to settle creditors.
Limited Liability Partnership is not capable to issue shares and because of that total ownership is in the hand of partners. Limited Liability Partnership is managed as per the LLP Agreement, if the agreement is not made, then it would be governed as per the provision of Schedule 1 of Limited Liability Partnership Act, 2008.
In Limited Liability Partnership, the requirement of audit of accounts by Chartered Accountant is not mandatory. It is dependent upon the turnover/contribution of LLP. Only Limited Liability Partnership having turnover/contribution exceeding Rs 40 Lacs/Rs 25 Lacs respectively are required to get their accounts audited annually. Small businesses may get benefited from this provision, which will reduce additional compliance to be maintained.
Afleo will help you in all your requirements regarding the Formation of LLP and other formalities. Our Business advisors will give solutions to all your queries regarding LLP Incorporation and help you to take your decisions easily. Afleo.com started with the simple idea that doing business in India should be very easy. Our growing team of young hard working professionals is our biggest asset. Our team puts the consumer first, and work meticulously to ensure that documents are filled correctly and swiftly. Afleo offers LLP Registration Services and acts as an LLP Incorporation agent in Mumbai, Delhi, Chennai, Bengaluru and across India. Afleo is the market leader with 100+ LLP Registration per month and total figures crossing 10,000+
Limited Liability Partnership is not capable to issue shares and because of that total ownership is in the hand of partners. Limited Liability Partnership is managed as per the LLP Agreement, if the agreement is not made, then it would be governed as per the provision of Schedule 1 of Limited Liability Partnership Act, 2008.
In Limited Liability Partnership, the requirement of audit of accounts by Chartered Accountant is not mandatory. It is dependent upon the turnover/contribution of LLP. Only Limited Liability Partnership having turnover/contribution exceeding Rs 40 Lacs/Rs 25 Lacs respectively are required to get their accounts audited annually. Small businesses may get benefited from this provision, which will reduce additional compliance to be maintained.
Afleo will help you in all your requirements regarding the Formation of LLP and other formalities. Our Business advisors will give solutions to all your queries regarding LLP Incorporation and help you to take your decisions easily. Afleo.com started with the simple idea that doing business in India should be very easy. Our growing team of young hard working professionals is our biggest asset. Our team puts the consumer first, and work meticulously to ensure that documents are filled correctly and swiftly. Afleo offers LLP Registration Services and acts as an LLP Incorporation agent in Mumbai, Delhi, Chennai, Bengaluru and across India. Afleo is the market leader with 100+ LLP Registration per month and total figures crossing 10,000+