LLP Registration in Jaipur
A Limited Liability Partnership combines the flexibility of a partnership with limited liability for its partners. It is popular with professionals, consultancies and family-run businesses.
Requirements at a glance
- At least two partners, of whom at least two are designated partners and at least one is resident in India.
- No minimum capital; partners agree their contributions in the LLP agreement.
- A registered office in India, and a distinctive name approved by the Registrar.
- Digital Signature Certificates for the designated partners.
The process
- Digital Signature Certificates and Designated Partner Identification Numbers.
- Name reservation on the MCA portal.
- Incorporation filing through the LLP incorporation form, which produces the Certificate of Incorporation.
- Drafting of the LLP agreement, which sets out profit sharing, roles, capital and exit terms, and its filing within 30 days of incorporation.
- PAN and TAN, bank account and, where required, GST registration.
Annual compliance
An LLP files a Statement of Account and Solvency every year and an Annual Return, and also files an income tax return. The general due dates are 30 October for the Statement of Account and 30 May for the Annual Return, and the LLP must also have its accounts audited if its turnover or contribution exceeds the prescribed limits. Dates and limits can change, so we track them for you.
Frequently asked questions
When is an LLP better than a Private Limited company?
An LLP suits professional practices and businesses that do not plan to raise equity from investors. It has lighter compliance than a company, but it cannot issue shares or ESOPs.
Can a company or an NRI be a partner in an LLP?
Yes, subject to the LLP Act, the FDI policy and FEMA rules, as applicable to the sector and the partner.
Is an LLP audit compulsory?
Only if the annual turnover exceeds ₹40 lakh or the contribution exceeds ₹25 lakh, as per the current limits. We confirm the position each year.
This page gives general information about Agar & Co. and its services. It is not an advertisement or solicitation, and it should not be treated as professional advice. Rates, thresholds and due dates change from time to time.