Partnership Firm
Limited Liability
Corporate Structure
LLP Agreement in Place of Partnership deed
Less Compliance Cost
Newly Introduced
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, MyCorporation.in offers real-time updates, Compliance Support, FREE Accounting and Invoicing Software with FREE Legal Consultation.
MyCorporation Fee : | ₹ 1999 /- | 2 DIN : | ₹ 0/ - | 2 DSC : | ₹ 3000 /- | Govt Fee : | ₹ 750 /- | Stamp duty : | ₹ 0 /- | Taxes : | ₹ 360 /- |
LLP is a form of business operation which combines the features of a Partnership and a body corporate and on the other hand Partnership refers to an agreement wherein 2 or more persons agree to carry on a business and share profits and loses mutually.
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.
Disadvantages
Compared to a sole proprietorship or partnership, a LLP is a little more expensive to operate. The owner of a LLP may have to pay an unemployment compensation for him or herself, which he or she would not have to pay as a sole proprietor.
PAN ( Permanent Account Number) of all Partners (Minimum 2)
Address Proof ( Voter Id, Passport, Driving License, Aadhar Card) of all partners
Latest passport size Photographs of all partners
Registered Office Address Proof - Electricty Bill along with Rent Agreement / ownership proof of proposed registered office.
Copy of Mobile bill, telephone bill, electricity bill or Bank Statement of all Partners with Present address
Stamp paper for LLP Agreement of State where LLP is to be Incorporated
Incorporation Documents
Digital Signatures and DIN
Name Approval
Application for Incorporation
PAN and TAN
LLP Agreement
2DSC
2DIN
MOA/AOA
COI
PAN
TAN