The Limited Liability Partnership Company who wants to file their Compliance at once can adopt this package. Filing of Form 11 & Form 8
The term No Profit does not mean that the Company cannot generate profit or income, but what it means is applying the income for promotion of the object and not for distributing it to the promoters. It means that the Company can earn profits but the promoters cannot be benefited out of those profits.
Applicable Annual Turnover < Rs. 2 cr for businesses or Gross Receipt < Rs. 50 Lacs for Professionals
What services are covered in this plan?
Form 11
Form 8 Filing
Transfer of Shares
Change in Office address
Increasing Capital
Closure of LLP
PAN Card of the Partners
Address Proof of the Partners
Utility Bill of the proposed Registered Office of the LLP
No-Objection Certificate from the Landlord
Rental Agreement Copy between the LLP and the Landlord
Purchase of Plan
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How do I file an LLP agreement?
LLP agreement governs the mutual rights and duties amongst the partners and also between the LLP and its partners.
1. LLP agreement must be filed in form 3 online on MCA Portal.
2. Form 3 for LLP agreement has to be filed within 30 days of the date of incorporation.
3. The LLP Agreement has to be printed on Stamp Paper.
Is there any turnover limit for LLP?
LLP have to calculate their tax liability from their financial statements for the year 2018. Only those LLPs whose annual turnover exceeds Rs. 40 lakhs or whose contribution amount exceeds Rs. 25 lakhs are required to get their accounts audited by a qualified Chartered Accountant.
What are the advantages of a Limited Liability Partnership?
The primary advantage for an LLP is that it establishes a separate legal entity from that of the general partners. As such, an LLP may own property as well as sue and be sued in a legal arena
What is the minimum capital required for LLP?
Moreover, the contribution of a partner can consist of tangible, movable or immovable or intangible property or other benefit to the LLP. On the other hand, the minimum capital contribution required for a private limited company is Rs.1 lakh and a limited company requires a capital of Rs.5 lakhs.
Is LLP liable to pay profession tax?
Under entry 18A of the profession tax act the each partner of the limited liability partnership firm registered under the Limited liability partnership act 2008 shall be liable to pay Profession tax of Rs. 2500 per annum.
Does an LLP have directors?
About Limited Liability Partnerships
There are no shares, shareholders or directors in an LLP. Must have a registered office address in the country of incorporation. LLPs do not pay corporation tax – each LLP member is taxed through Self- Assessment as a self-employed individual
