What is an LLP?

A Limited Liability Partnership (LLP) is a business structure that combines the advantages of both a traditional partnership and a private limited company.

It provides:

• Limited Liability Protection - Partners are not personally liable for business debts.
• Separate Legal Entity - The LLP exists separately from its owners.
• Flexible Management - Less compliance compared to companies.
• Perpetual Succession - LLP continues to exist even if partners change.

Unlike traditional partnerships, where partners are personally liable for business obligations, an LLP limits each partner's liability to the amount they invest in the business.

Why Choose an LLP with Calzone?

• Ideal for Professionals & Service-Based Businesses - Suitable for consultants, agencies, IT firms, and law/accounting firms.
• No Minimum Capital Requirement - LLPs can be formed with low investment.
• Less Compliance Than a Private Limited Company - No mandatory audits if turnover is below 40 lakh.
• Limited Liability Protection - Partners are not personally responsible for company debts.
• Flexible Business Structure - Partners can define their roles and rights in an LLP Agreement.
• Faster Registration with Calzone - We handle everything from documentation to compliance.

Eligibility for LLP Registration

A Limited Liability Partnership (LLP) can be formed by:

• Minimum 2 Partners (no limit on the maximum number).
• At least one partner must be a resident of India.
• A legal agreement defining the partnership terms must be created.

If a company is a partner in an LLP, it must appoint a natural person as a nominee.

Advantages of Registering an LLP with Calzone

• No Minimum Capital Requirement - Start with any amount.
• Tax Benefits - LLPs are taxed at a flat 30% with no dividend distribution tax.
• Less Compliance - No need for annual audits if turnover is below 40 lakh.
• Separate Legal Entity - Can enter contracts, own property, and sue in its own name.
• No Limit on Number of Partners - Expand your business without restrictions.
• Seamless Registration - Calzone ensures fast, efficient, and compliant LLP incorporation.

Disadvantages of LLP

• Higher Tax Rate - LLPs are taxed at 30%, which is higher than companies taxed at 25% (for turnover up to 400 crores).
• Cannot Raise Equity Capital - LLPs cannot issue shares like private limited companies.
• Difficult Ownership Transfer - Requires approval from all partners.
• Strict Penalties for Non-Compliance - 100 per day fine for delayed filings.

Step-by-Step Process for LLP Registration with Calzone

• Step 1: Obtain Digital Signature Certificate (DSC)
  • All designated partners need a DSC to sign documents digitally.
  • Calzone assists in obtaining DSC from authorized certifying authorities.
• Step 2: Apply for Designated Partner Identification Number (DPIN/DIN)
  • DPIN (Designated Partner Identification Number) is required for each partner.
  • If a partner already has a DIN (Director Identification Number), it can be used instead.
  • Calzone handles the entire DPIN/DIN application process.
• Step 3: Name Reservation for LLP
  • Select a unique business name that follows naming guidelines.
  • Submit two name preferences to the Ministry of Corporate Affairs (MCA).
  • Calzone ensures quick name approval and compliance with MCA norms.
• Step 4: File Incorporation Application (FiLLiP Form)
  • Submit incorporation documents via FiLLiP (Form for LLP Incorporation).
  • Attach partners' details, registered office address, and LLP agreement.
  • Once approved, the Certificate of Incorporation is issued.
• Step 5: Draft & File LLP Agreement
  • The LLP Agreement defines roles, responsibilities, profit-sharing, and exit clauses.
  • Must be filed within 30 days of incorporation using Form-3.
  • Calzone ensures a legally sound agreement, drafted by experts.

Documents Required for LLP Registration

• For Partners:
  • PAN Card & Aadhaar Card.
  • Address Proof (Voter ID, Driving License, Passport).
  • Residence Proof (Latest Utility Bill or Bank Statement - not older than 2 months).
  • Passport (for NRIs or Foreign Nationals).
• For LLP Registration:
  • Registered Office Proof (Electricity/Water Bill - not older than 2 months).
  • Rental Agreement & NOC from the Owner (if applicable).
  • LLP Agreement (to be filed within 30 days of incorporation).

Compliance Requirements for LLPs

• Annual Return Filing (Form 11) - Due within 60 days from the end of the financial year.
• Statement of Accounts & Solvency (Form 8) - Due within 30 days after 6 months of the financial year-end.
• Income Tax Returns - LLPs must file tax returns annually.
• GST Returns (If applicable) - Mandatory for LLPs with GST registration.

Late filing results in a penalty of 100 per day until compliance is completed.

Cost of LLP Registration with Calzone

Why Choose Calzone for LLP Registration?

• End-to-End Assistance - From DSC to LLP Agreement, we handle everything.
• Expert Business Consultation - Guidance on compliance, tax benefits, and growth strategies.
• Quick Processing - Fast registration with minimal hassle.
• Affordable Pricing - Transparent and competitive fees.