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Limited Liability Partnership

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Limited Liability Partnership (LLP) Registration

A Limited Liability Partnership (LLP) is a hybrid business structure that offers the benefits of both a partnership firm and a private limited company. Introduced under the Limited Liability Partnership Act, 2008, it provides limited liability protection to its partners while maintaining operational flexibility.

Compliances for Limited Liability Partnership (LLP)

  1. Annual Return Filing (Form 11) – Due by May 30 of each financial year.

  2. Statement of Account & Solvency (Form 8) – Due by October 30 of each financial year.

  3. Income Tax Filing (ITR-5) – Mandatory annual tax filing for LLPs.

  4. GST Registration & Filing – Required if turnover exceeds ₹20 lakhs (₹10 lakhs for special states).

  5. Appointment of Auditor – Required if LLP’s turnover exceeds ₹40 lakhs or contribution exceeds ₹25 lakhs.

  6. TDS Compliance & Employee PF – If applicable, LLPs must file TDS returns quarterly.

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LLPs must file TDS returns quarterly.

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Advantages of Limited Liability Partnership

  1. Limited Liability Protection – Partners’ personal assets are protected from business liabilities.

  2. Separate Legal Entity – LLP has its own legal identity, independent of its partners.

  3. No Minimum Capital Requirement – LLPs can be started with any amount of capital.

  4. Less Compliance than Private Limited Company – Fewer regulatory requirements compared to Pvt Ltd firms.

  5. Tax Benefits – LLPs are taxed at a flat 30%, and dividend distribution tax (DDT) is not applicable.

  6. Perpetual Existence – LLP continues to exist even if partners change.

  7. Easy Transfer of Ownership – Partners can be replaced or added without affecting business operations.

Documentation Required for Limited Liability Partnership

  1. PAN Card of all Partners

  2. Aadhar Card, Passport, or Voter ID (Identity Proof)

  3. Latest Utility Bill (Address Proof) of Partners

  4. Passport-size Photographs of all Partners

  5. Registered Office Address Proof (Electricity Bill & Rent Agreement if rented)

  6. Digital Signature Certificate (DSC) of Partners

  7. Director Identification Number (DIN) of Designated Partners

  8. LLP Agreement (Defining roles and responsibilities)

  9. Consent Forms & Affidavits from Partners

“We were able to start our LLP without any legal complications. Thanks to TaxoTalk!”

Frequently Asked Questions (FAQs)
Who can register an LLP?

Any two or more individuals or entities can register an LLP in India.

What is the minimum capital required for LLP registration?

There is no minimum capital requirement for LLP registration.

Is GST registration mandatory for LLP?

Yes, if the LLP’s turnover exceeds ₹20 lakhs (₹10 lakhs for specific states) or deals with interstate transactions.

Can an LLP have only one partner?

No, an LLP must have at least two partners at all times.

What is the difference between LLP and Pvt Ltd Company?

LLPs offer less compliance and limited liability, while private limited companies provide better funding options and structured corporate governance.