Limited Liability Partnership (LLP) Registration

1. Limited Liability:

• Partners' liability limited to their contribution
• Personal assets protected
• Each partner protected from other partners' actions

2. Flexible Management:

• No restriction on maximum partners
• Freedom to design internal structure
• Easy to add or remove partners
• No mandatory board meetings

3. Cost-Effective:

• Lower registration costs
• Minimal compliance requirements
• Reduced operational costs
• No mandatory audit up to ₹40 lakhs turnover

4. Tax Benefits:

• No dividend distribution tax
• No surcharge on income above ₹1 crore
• Partners' remuneration is tax-deductible
• Profit sharing ratio can be flexible

Requirements for LLP Registration

1. Partners:

• Minimum 2 partners required
• At least one resident Indian partner
• No maximum limit on partners
• Can be individuals or body corporate

2. Designated Partners:

• Minimum 2 designated partners
• At least one must be resident Indian
• Must have valid DPIN
• Responsible for compliance

3. Registered Office:

• Must have registered office in India
• Can be owned or rented property
• Valid proof of address required

4. Capital Requirements:

• No minimum capital requirement
• Capital can be in cash or kind
• Flexible contribution ratio