Skip to main content

LLP REGISTRATION IN DELHI, INDIA

 The whole idea of limited liability partnership (LLP) is very common in India. This specific partnership pinpoints the fact that some partners in a partnership may have limited liabilities. Importantly, under LLP one partner is not responsible or liable for another partner’s misconduct or in any negligence. One can definitely say, the idea of LLP is similar to that of stakeholders in a corporation.  Interestingly, LLP is different from the idea of limited partnership. No doubt, LLP is a much advanced concept in the domain of business and considered to be a far better aspect that limited partnership.

The whole procedure of registering for LLP in Delhi is simple.  Let’s not forget that registered office is mandatory along with two partners.  As per the existing clause, both partners need to be residents of India.  The advantage in this case is, one can use residential address as registered office address.  The whole process of LLP registration can be categorized into 6 simple steps as follows.

  • Applying for Digital signature form (DSC): In this digitized era, signing the digital signature form is a must and all the partners have to sign it.
  • Applying for Director Identification Number (DIN): This is the next after signing the digital signature form.  The state ministry of corporate affairs is the competent authority to deliver it timely.  In other words, partners can apply it via ROC Delhi or MCA portal.
  • Applying for name approval:  This is a small yet a significant step in the whole process of registering for LLP. Once the name in approved, the partners have truly proceeded and remaining formality has to be completed in quick time. There is no denying the fact that ROC Delhi will only approve the name if there is no other company with the same name or trademark.
  • Applying for Registration: This is virtually the most significant step. Getting the registration is actually having LLP registration done altogether.  No doubt, partners will have huge sigh of relief once this stage is covered.
  • Getting registration certificate from Registrar of Companies (ROC): For Delhi, no doubt, this implies the state’s ROC where the partners need to obtain the registration certificate.  Immediately, the partners need to open a current bank account with approved name by Delhi ROC.
  • Drafting the LLP Agreement between the partners: In this step, the partners need to fill LLP Agreement to the Delhi ROC Office and they can do it via MCA Portal.  This LLP Agreement contains all the necessary details and terms and agreement regarding the partnership matters.

 

In this whole process of LLP registration in Delhi, partners need to have the following documents and essentials along with them.

  • 2 copies of PAN card of the partners
  • For address of the partners they can furnish voter card or passport or AADHAR card or driving license.
  • 3 coloured passport size photographers are mandatory
  • As far address proof of the registered office is considered, the partners can opt to furnish mobile or telephone bill or cooking gas bill or water or Municipal Tax bill or House Tax bill. In all the cases, the bills shouldn’t be preferably too old. The partners should submit bills served within two months from the date of issuing. No Objection Certificate (NOC) has to be furnished alongside without any delay.

 

Normally it takes 15-20 working days to complete the whole process of LLP registration. Often due to official delay related to ROC, it takes bit longer.  Interestingly, a salaried person can also become a partner in LLP unless otherwise the person is obligated for not doing such. If  the partners want to change the notified address given in LLP registration, they can only do after following formal procedure.  In any case, the partners have to relocate within jurisdiction of Delhi only.  Nowadays the Ministry of Corporate Affairs allocate Designated Partner Identification Number (DPIN) too which can be obtained within 304 days and is valid for life. Nevertheless, have LLP is much advantageous than traditional business partnership.

Labels:

Comments

Post a Comment

Popular posts from this blog

THE IMPACT ON AFFORDABLE HOUSING IN GST REGIME

  Measures for promoting affording housing “It is proposed to exempt service tax on construction of affordable houses up to 60 square meters under any scheme of the Central or State Government including PPP Schemes.”   After a prolonged demand from industry, the Central Government announced above incentive and vide Notification no. 9/2016 dated 01 st March 2016 came up with a scheme of exemption from service tax liability pertaining to low cost houses up to carpet area of 60 sq meters to be developed by private developers. Before any new project could have seen the light of day under new exemption notification, and start under the new scheme, there comes a GST from 1 st  of July 2017 whereby this exemption to affordable housing by private builders, from service tax stands omitted in the new list of exempted services approved by GST council. Thus the group housing projects proposed by private builders up to a carpet area of 60 square meters no longer qualify for exemption ...
Post a Comment
Read more

INTERNAL AUDIT

  WHAT IS INTERNAL AUDIT? Internal audit is an independent, objective assurance and consulting activity designed to add value to and improve an organization’s operations. The role of this audit is to provide independent assurance that an organisation’s risk management, governance and internal control processes are operating effectively. An internal audit may be used to assess an organization’s performance or the execution of a process against a number of standards, policies, metrics, or regulations. Internal audits  may include examining a business’s internal controls around corporate governance, accounting, financial reporting, and IT general controls. Auditors may cover all areas of an organization or specialize based on their skill-sets. In simple words we can say Internal audits evaluate a company’s internal controls. WHAT ARE THE TYPES OF INTERNAL AUDITS? Some types are: Compliance Audit IT Audit Operation Audit Performance Audit This allows the company’s Board and manag...
Post a Comment
Read more

HOW TO HANDLE THE TAX IN WHEN AVAILING SERVICES FROM UNAUTHORIZED SECTOR

  Understand the GST: Mechanisms- Two mechanisms are there: a) Fore-ward Charge b) Reverse Charge What is Fore-ward Charge Mechanism? Fore-ward charge means liability to pay the taxes on the goods & services is on the supplier. E.g.: X sells goods for Rs.1 Lac to A, X will charge & pay tax on the said goods (say 5% GST) Rs 5000. What is Reverse Charge Mechanism? Reverse charge means the liability to pay tax by the  recipient of supply of goods or services  or both instead of the supplier of goods or services or both. E.g.: Z sells goods for Rs.1 Lac to B, in this case B will pay tax on the said goods (say 5% GST) Rs 5000 on the basis of goods/services receipt. On which supplies Fore-ward/Reverse charge will apply? In case of goods right now no such goods has been notified yet particularly on which tax liability is be discharged by reverse charge mechanism. However, if the goods are bought by the registered person under GST is from the un-registered person then the...
Post a Comment
Read more