How much does it cost to start an LLP?

5000/- for incorporating a limited liability partnership with a capital contribution of more than 10 lakh; 4000/- for incorporating a limited liability partnership with a capital contribution that exceeds 5 lakh but does not exceed 10 lakh.

Can I register my LLP myself?

Register on the Ministry of Corporate Affairs' website, which was designed specifically for LLP services. For further details please visit: www.earnlogic.in

What is the minimum capital required for LLP?

There is no minimum capital required for LLP formation. Moreover the contribution of partners can be movable or immovable incorporeal property

Who are eligible for LLP?

An individual or body corporate can become partner of LLP. At-least one designated partners must be an Indian resident.

Is GST necessary for LLP?

Yes GST necessary for LLP. As of April 1,2019 LLP dealing in goods was raised to Rs. 40 Lakhs. If LLPs provide services the threshold remains at Rs.20 lakh.

A Limited Liability Partnership (LLP) cannot deduct the following amount paid to partners: Non-working accomplices' compensation, reward, bonus, or installment. payment to partners of compensation or interest that is not in accordance with the requirements of the partnership deed.

Can a single person start LLP?

However, in order to incorporate a Limited Liability Partnership, two individuals are required.

Is salary from LLP taxable?

A partnership and an LLP will be taxed in the same way. As a result, they will be subject to a 30% income tax. However, Limited Liability Partnerships (LLPs) are not eligible for the advantages of Section 44AD, which permits businesses to cease keeping books if their income falls below 8% of the total gross.

Is TDS compulsory for LLP?

Yes, TDS is compulsory for LLP.

Can a salaried person start LLP?

Yes, salaried individuals can join an LLP as partners. However, you must determine whether such provisions are permitted by your employment contract. Most of the time, employers are okay with their employee being a director in another company.

The operational advantages of a company and the adaptability of a partnership firm are combined in LLPs. When compared to the cost of forming a Private Limited Company, the incorporation fee for an LLP company is significantly lower.

LLP Registration in Coimbatore

LLP registration in Coimbatore depicts the Limited Liability partnership formed under the Limited Liability Partnership Act, 2008. We are serving all over coimbatore in Avinashi Road, Sitra, Peelamedu, Kalapatti, Annur, Neelambur, Kaniyur, Karumathampati and in Somanur. Earnlogic provides the registration platform for the business firms to begin their businesses in a simple and easier way through online Portal. LLP companies are increasing in Coimbatore due to its unique features. The Minimum Capital amount is not needed to begin an LLP company. Hence many entrepreneurs and business professional chooses this type of company. We have 10+ years of experience in legal registration services and our legal experts will provide endless support in the process of LLP registration in Coimbatore.

LLP registration in Coimbatore is a form of business structure that offers corporate protections against liability to the partners. It allows the freedom and flexibility to manage the business which is based on the personal agreements between the partners. The liability of each partner is limited according to the rules and regulations of LLP Act. LLP registration in Coimbatore has the legal existence and identity which is different from that of its partners. It has both the characteristics of private limited and partnership firm.

An individual partner is not responsible or liable for other partners’ misconduct. In LLP, the ownership can be transferred by appointing new designated Partners and it can be done by changing the management partners of a LLP company.

Benefits of LLP registration in Coimbatore

LLP is easier to begin and administrate and has less number of formalities. Lower registration cost.
LLP registration is like a corporate body which has separate existence other than its partners.
LLP can be started without any capital amount.
The partners limited liability is based on the contribution.
Compulsory audit is not needed.
Comparing to Private Limited Company, the annual ROC compliance in LLP is less.
Limited Liability:There are multiple owners are involved in the business, so that all the risks of the business are spread out based on their investments and responsibilities. Thus a single person would not be responsible for all the business activities and issues.
Protection of personal assets:LLP protects the personal assets of the members if any one of the partners involved in any unauthorised acts, it doesn’t affect the other person. Individual partners are thus shielded from the other partner’s wrongful business decision or misconduct.
Perpetual succession:LLP has a separate legal existence so it is distinct from its partners and has a perpetual succession. Any changes in the partners would not influence the rights, existence or obligation of the LLP.

Documents Required for LLP registration

PAN Card/ ID Proof of the Partners
Address Proof of the partners
Residence Proof of Partners
Photocopy
Proof of Registered Office Address
Digital Signature Certificate

Company Registration

Company Allied Services

Intellectual Property

LLP Registration in Coimbatore

Benefits of LLP registration in Coimbatore

Documents Required for LLP registration