What are the features of the Limited Liability Partnership (LLP) form of organization?
We can register LLP in India, by at least two persons, who shall act as the designated partners of the LLP. There is no limitation on the maximum number of partners in an LLP form of business.
A designated partner of the LLP must be resident in India and a person is said to be resident if he or she stays in India for at least 182 days during the preceding financial year irrespective of their citizenship. The days of stay can be in phases.
As per your business requirements, the LLP can be incorporated with any amount of capital, there is no maximum limit on the capital which can be invested in the LLP. However, the minimum capital cannot be less than Rs. 10,000/-.
LLP proposed name should not resemble any existing company or LLP Name. And you must check the trademark registry to ensure that the name does not match with any registered or applied trademark in India.
As the application for LLP Registration is filed online, the process starts with the issuance of the digital signature of class-2 for the partners.
To reserve the name of LLP, an online application is made in Form RUN-LLP. The process of name reservation for LLP takes around 2-6 days.
After LLP name approval, an application for incorporation is filed in Form FILL LLP to the ROC with partner’s documents & the registered address.
After registration of the LLP, the partners need to enter into a valid agreement on stamp paper of appropriate value as per respective state.
Every shop and the commercial establishment are required to obtain establishment registration with the Labour Department within 30 days of starting their business. It is mandatory for all states in India.
No one should be adversely affected by health hazard and nuisance by the improper carrying of trade a License is necessary from the municipality within 30 days of starting the business.
Specific legislation have been passed by majority state governments to impose a tax on profession, employment of calling of any nature, however, and the fees for it is Rs. 2500 per annum.
GST Registration is mandatory for each business engaged in providing services or supply of products, where the turnover exceeds Rs. 20 Lac or does even one transaction in an interstate trade.
During a business of producing, trading, storing or dealing in any manner of food items, then the state level FSSAI registration or Central License is mandatory based on the turnover.
This location-based Drug License is granted by the State Government based on fulfilling certain norms and criteria. No entity can start or continue sale/trade of medicine without drug license.
Private Security Agency may be a lucrative business with immense potential; however, it can be started or continued only after obtaining a license from the competent authority as designated by the state government.
IEC is a ten-digit pan based registration with the DGFT. IEC is a mandatory prerequisite to start a business of Import or Export in India. Only one IEC code can be issued against a pan.
Disclaimer : 1) These packages are applicable where turnover is below Rs. 50 lakh in case of profession and Rs. 1 crore in case of business. 2) Class 2 digital signatures with 2 year validity on secure USB token. 3) Upto 3 name options can be given in 1 RUN name approval request. 4) Package 4 is applicable upto 2000 entries.
To receive newsletter and
© 2020 Onfilling.com - Powered By ONFILING SERVICES PRIVATE LIMITED