8 Simple Steps To Register an LLP for India

This article provides the complete process of registering the LLP within India. In the next sections, you’ll find specifics about the procedure of how to register and register an LLP in India as well as the required documents to be submitted for LLP registration, forms to be submitted to be filed for LLP registration, etc.

Limited Liability Partnership (LLP) is a type of partnership where the partners are not liable for any liability. It has characteristics of corporations and partnerships. In an LLP partnership, a single partner is not accountable or accountable for another partner’s conduct or negligence. LLP was first introduced in India through the Limited Liability Partnership Act, in the year 2008.

Limited Liability Partnership Firm: Limited Liability Partnership(LLP) as its name implies is a partnership-based firm with the added benefit that the liability of partners is restricted. To be tax-efficient, LLPs and partnership companies are treated the same way. They are registered with the Ministry of Corporate Affairs is the authority to register LLPs.

Step 1: Obtain Digital Signature Certificate (DSC)

Each form or application submitted online through the MCA is required to be signed electronically by applicants and partners who are members of the LLP. This is why the DSC that has two years of validity is issued to the named members in the Limited Liability Partnership. The DSC is connected to the PAN card used for the application. It needs a passport size photo as well as proof of address.

Step 2: Obtain Limited Liability Partnership Name Approval

The applicant must submit a web-based form known as RUN-LLP (Reserve Unique Name – Limited Liability Partnership). RUN-LLP is a replacement for the older model LLP Form 1. The new form is a reduced, improved version of the earlier form. The application is made with up to 2 names in order of preference. The names must be in compliance with the rules applicable to reservations of names. If neither of the names has been approved by MCA the MCA, a resubmission of one name is permitted.

When the name is assigned to the applicant, it will be reserved for 90 days beginning from the date of the decision.

Step 3: LLP Incorporation (including DIN Application)

The most significant difference in the new procedure is that in this particular step the incorporation form was required to be submitted in LLP form 2. This has been replaced by FiLLiP (Form for incorporation of a Limited Liability Partnership). The most important aspect is the incorporation with the DIN Allotment Application as well as the application for incorporation. Below are the main applications’ features:

A DPIN/DIN application that is for a maximum of two Designated Partners (DPs) may be filed in the form of an application. When there are more than two DPs who do not have DIN They can be added later, following each filing. Learn more about how you can submit a request for DIN for other partners.

This form allows the registration of names can be submitted. The applicants have the option of choosing to reserve the name using an LLP-RUN or by using this form.

The application must be accompanied by documents that are required which include the subscriber’s form and proof of registered office address. The documents required to be submitted for LLP registration are explained in an article on their own.

Limited Liability Partnership Firm: Limited Liability Partnership(LLP) as its name implies is a partnership-based firm with the added benefit that the liability of partners is restricted. To be tax-efficient, LLPs and partnership companies are treated the same way. They are registered with the Ministry of Corporate Affairs is the authority to register LLPs.

Step 4: Processing of LLP Application

This application is reviewed to be approved at the Central Registration Centre (CRC). If the registrar determines it necessary to contact the CRC for additional documents or details, it can do so by calling to request a second submission in the period of 15 days. Once the application is approved, for registration of an LLP online The certificate of Incorporation (COI) will be issued on form 16 and DPIN/DIN will be assigned to Designated Partners. COI will also include an LLP Identification Number (LLPIN). The COI’s date shall be that of the LLP incorporation.

Also Read: 9 Apparently Benefits of Private Limited Company Registration in India

Step 5: Apply for PAN

In contrast to an individual company applying for PAN is to be submitted separately for LLP via offline or online modes. Applications are made directly to Income Tax Department and are also handled by it. The application is made on form 49A and includes A Certificate of Incorporation as proof of incorporation.

Step 6: Apply for TAN

The application for TAN is made through form 49B the internet or offline method. Learn more about TAN is and the reasons you require it.

Step 7: LLP Agreement Preparation and Filing

This is a crucial aspect of the LLP incorporation process. The LLP Agreement has to be meticulously drafted and must consider a number of points. The name, the business’s objective as well as the location of the business, and all other fundamentals that are required for an LLP. Other clauses comprise the capital as well as the profit-sharing ratio. the rights and obligations of partners as well as other important clauses.

The LLP agreement to obtain an official stamp and notarization should be executed with the partner in front of two witnesses. They should then get an attestation from the two witnesses.

Notification: The agreement must be submitted to MCA within 30 days from when it was incorporated. A delay will result in an additional charge of Rs 100/day beginning from the day of the default until the time of the actual filing.

The details are recorded in form 3 of the LLP form-3. Additionally, verification, approval, and verification are handled by the relevant State RoC rather than the CRC.

Step 8: Obtain GST Registration for LLP

GST Registration of an LLP is the last stage of the whole process. GST Registration isn’t required in the case of an LLP. It is however mandatory if a Limited Liability Partnership is expected to conduct interstate transactions. It is highly recommended to apply for GST registration If the LLP intends to incur expenditures or purchase goods that have GST elements within the same.

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