A Limited Liability Partnership Firm is a better version of general partnership firm carrying additional advantageous features like protection of business name, partners having limited liability shield, business listing on registrar of companies, recognition under Startup India - Standup India scheme etc. LLP represents the business legal entity more professionally among your buyer personas as compare to normal partnership firm. Find out more.
Aadhar Card, Driving License, Election Id Card, Passport
Electricity Bill, Rent Agreement + NOC
Limited Liability Partnership is a separate legal entity from its partners and liability of each partner is limited to their contribution.
LLP has perpetual succession and contains salient features of Company and Partnership.
Easy to form LLP and registration cost is low in comparison to company formation.
LLP requires less disclosure and compliance requirement is less as compare to other entities.
No mandatory requirement of statutory audit upto a certain limit i.e. Turnover or Contribution.
No income tax charegable on profit distribution in partner’s hand.