Simplified and Detailed Process for LLP Registration Process in India
India has become the preferred hub for the growing economic market. People are constantly looking forward to start their new venture here. If you are also looking forward to establish a new business in India then it is a wonderful opportunity for you to grow and excel as an entrepreneur. This is because new opportunities and regulations are being put into action to promote the growth of companies. One such initial decision by the government of India to help businessman is the introduction of LLP. Limited Liability Partnership is a recently initiated corporation type in the country and many entrepreneurs are not aware about the LLP Registration Process.
The purpose of bringing in LLP in the Indian market is to focus on the operations of the small as well as medium-sized industries. The promising aspect of Limited Liability Partnership is that it gives several of the privileges that are rejoiced by a PLC (Private Limited Company). Not only just that, but an LLP also tends to make it easy for businesses to follow compliance. Furthermore, the LLP Registration Process is completed at a low cost. This Type of business structures becoming popular day by day. Because of its easy maintenance. It would not be wrong to say that it has evolved as the primary choice of maximum number of small company owners in the country.
What Are the Steps for LLP Registration Process in India?
Attain the DSC
The Digital Signature Certificate, popularly known as DSC, is an authorized digital signature. Every online application for the LLP Registration Process needs to be submitted on the online portal of MCA. When you fill the e-form, digital signature is mandatory on that form. It is mandatory for all the partners as well as directors to procure their digital signature certificate. The DSC Will expire after a period of 2 years. Moreover, to apply for DSC, you need to submit your PAN card, address proof along with your passport-sized photograph.
Secure the Name LLP Company
It is advisable to secure the name for your company at the soonest so that the name is not taken by any other applicant. You get the privilege to select two best names to fill in the RUN-LLP e-form. The name must be unique and should not be identical to any of the running or closed business in the country. Upon rejection by MCA, you can file again with two other names. You can get the LLP name secured for your company for 3 months from the approval date.
Incorporating LLP Company and Applying for DIN
Now you can apply for LLP incorporation by submitting the Form for incorporation of Limited Liability Partnership (FiLLiP). Simultaneously, fill the application to attain the DIN. You can add up to 2 names of LLP partners. If more than that, it can be added later. You have to provide an address proof of LLP office as well as the subscribers’ sheet. The form gets forwarded to the CRC (Central Registration Centre) for approval. Soon after approval, you will receive the Col (Certificate of Incorporation) granted in form 16 and DIN for each partner. You can find the LLP incorporation date as well as the LLP identification number in the Certificate of Incorporation.
Obtain PAN and TAN
In this stage of LLP Registration Process, you are going to fill 2 forms (online/ offline) and submit them to the Income Tax Department to get them assessed. To get the PAN, you will be filing 49A form. Whereas for TAN, or is 49B form. Provide the Col as evidence of your credibility.
Framing and Introducing LLP Agreement
Here, you need to provide all the details regarding the business and partnership such as business name, goal, business area, percentage of profit shared by each partner, their roles and responsibilities, and other crucial information. Get the partner’s signature on the agreement along with the payment stamp duty. Further, the witnesses need to attest to the agreement as well. It is submitted in LLP form 3 that will be examined and authorized by the registrar of the state.
Where Can I Get the Assistance to for LLP Registration Process in India?
If you are searching for the assistance to register your business in India, you can get in touch with the 3E Accounting firm. Our goal is to provide an ultimate experience to our clients by catering their needs. You will get complete assistance for processing LLP registration from our staff who are proficient in their fields. You will get a hassle-free LLP Registration Process as we will complete all the legal works. We will also provide valuable solutions to individuals and corporates facing financial challenges.