D M & Associates

Limited Liability Partnership (LLP) introduced in 2008 is a prominent legal business structure in India having fewer legal compliances, as the name suggests LLP limits the liability of its partners & lends protection from the incompetence or misdeeds of the other partners. LLP registration is one of the simplest forms of business to incorporate and manage in India.

Also, LLP is less expensive to incorporate and maintain than a Private Limited Company & serves as a better option from a tax perspective.

LLP company registration is preferred by Professionals, Medium and Small businesses due to the simple incorporation procedure and lesser compliance formalities. LLPs are incapable of issuing equity shares, It should thus, not be used for any business that requires raising equity funds during its existence.

LIMITED LIABILITY

In a Partnership, partners are personally liable for all their debts, if it is not repaid by the business, the partners would have to sell their personal assets. But with an LLP company registration, only the invested capital in commencing the business would be lost, the personal properties of the partners would be safe.

EASY TRANSFERABILITY

The ownership can be easily transferred to another person by the introduction of a new partner in the LLP registration. Since it is a separate legal entity, changing the Partners, won’t change the ownership of the LLP.

PERPETUAL SUCCESSION

An LLP is a business entity having perpetual succession that means continued existence until it is legally dissolved or wound up. LLP is unaffected by the death or removal of any Partner as it has a separate legal identity. Thus, an LLP continues to exist irrespective of the changes made in ownership.

FEWER LEGAL COMPLIANCES

LLP registration in Mumbai is most suitable for startups and small businesses that are commencing their operations and wish to have minimal legal compliance related formalities. It does not require an audit if it has a turnover of less than Rs. 40 lakhs and capital contribution less than Rs.25 lakhs. It thus has fewer structural changes than a private limited company.A private limited partnership offers legal protection to its shareholders but restricts its ownership. It is relatively convenient to manage and run the company with a possibility of expansion for growing companies. Also, it is easy to dissolve and wind up the company.

A private limited partnership offers legal protection to its shareholders but restricts its ownership. It is relatively convenient to manage and run the company with a possibility of expansion for growing companies. Also, it is easy to dissolve and wind up the company.

1. FOR DIRECTORS & SHAREHOLDERS

• Copy Of PAN OR Passport (For NRI’S)
• Copy Of Voter’s ID OR Passport OR Driver’s License
• Copy Of Latest Bank Statement OR Electricity Bill OR Telephone Bill
• Passport sized photographs
• Specimen Signatures

2. FOR REGISTERED OFFICE

• Copy Of Latest Bank Statement OR Electricity Bill OR Telephone Bill
• Copy Of Notarized Agreement of the rent (English)
• Copy Of Property owner’s NO-Objection certificate
• In case of owned property, Sale deed (English)

To get LLP registration in Mumbai, DSC (Digital/E-signature) of the partners & DPIN (Designated Partner Identification Number) can be obtained within 5 to 7 days.

Name Approval from any of the maximum six options given by the company to the MCA should ideally be suggestive of the business entity & unique.

Incorporation documents should be submitted to the MCA with an application for incorporation. MCA will then approve the application for incorporation of LLP in 10 to 12 days.

The Certificate of Incorporation shall be accepted at the end of this process.

Every LLP company registration requires a registered Permanent Account Number (PAN) and Tax Account Number (TAN).PAN and TAN will then be couriered to the registered office address in 21 working days.

Establishing a Limited Liability Partnership (LLP) for your business can be a strategic decision. Combining the flexibility of a partnership with the limited liability of a corporation, the LLP business structure has emerged as a compelling route for entrepreneurs, professionals, and small to medium-sized enterprises. A significant merit of limited liabilities partnership to be considered while making this important decision is that LLPs require a minimum of two partners, and there is no maximum limit, which makes them ideal for various business sizes and structures.  

At D M & Associates, we understand that the decision to form or manage an LLP is a significant one. Our team of experienced chartered accountants specializes in LLP registration and offers a range of services to assist you at every stage, right from LLP formation services to LLP company registration.  D M & Associates, as your chartered accountant, bring a wealth of expertise backed by years of experience that can help you achieve your business aspiration. 

With our client-focused approach accompanied by services tailored according to your business requirements, we provide hassle-free LLP registration in Mumbai. D M & Associates can be your trusted partner in navigating the intricate needs of the business landscape with the following benefits- 

• End-to-End Services: From LLP formation to ongoing compliance, tax optimization, and strategic planning, we offer a comprehensive suite of services to cater to a wide spectrum of business needs.  
• Advisory and Consultation: We take the time to understand your business goals and provide solutions that cohesively meet your business requirements.  
• Tax Efficiency: We specialize in optimizing the tax structure of LLPs, helping you make the most of potential tax benefits while ensuring compliance with tax regulations. By having D M & Associates by your side, you can stay proactive in your annual filing requirements, changes in LLP law, and related compliance matters.  
• Conversion and Dissolution: Whether you’re considering converting your existing business structure into an LLP or dealing with the dissolution of an LLP, our experts are here to assist you every step.