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 falls under the Limited Liability Partnership Act, 2008, offering a corporate shield against liability. We cater to various areas like Avinashi Road, Sitra, Peelamedu, Kalapatti, Annur, Neelambur, Kaniyur, Karumathampati, and Somanur. Earnlogic simplifies the LLP registration process via an online platform, aiding entrepreneurs to start without a mandatory minimum capital amount. With over a decade of experience in legal services, our experts offer seamless support throughout the online LLP registration in Coimbatore.

This business structure protects partners from liability, allowing flexible management based on personal agreements. Partner liability is limited as per LLP Act regulations. LLP registration in Coimbatore establishes a distinct legal identity separate from its partners, combining aspects of private limited and partnership firms.

Individual partners aren't liable for others' actions. LLPs allow ownership transfer through designated partners' appointment or changes in management.

Benefits of LLP registration in Coimbatore

LLP with LLP registration online offers ease in setup and administration, involving fewer formalities and lower registration costs. It functions as a separate entity from its partners, akin to a corporate body. LLP initiation doesn’t necessitate any initial capital investment. Partner liability is confined to their contributions.
Unlike Private Limited Companies, LLPs require less annual ROC compliance.
Its benefits include:
Limited Liability:Distributes business risks among multiple owners based on their investments, preventing a single individual from bearing all responsibility.
Protection of personal assets:Shields individual partners from others' unauthorized actions or misconduct, safeguarding their personal assets.
Perpetual succession:As a distinct legal entity, LLP remains unaffected by partner changes, preserving its rights, existence, and obligations.

Documents Required for LLP registration

Essential documents required for LLP registration process include,

PAN Card/ID Proof,
Address Proof,
Residence Proof of Partners,
Photocopies,
Proof of Registered Office Address, and
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