Send an Enquiry
Enquiry Form
captcha

9 + 0 =

Call us now
Call Us Now
9136664394
9136664395
7304244849
Whatsapp
Call Us Now
9136664394
9136664395
7304244849
loader
c shape double border

Looking to form a Limited Liability Partnership (LLP) in Madhya Pradesh?

Setup a Limited Liability Partnership (LLP) in Madhya Pradesh with Instabizfilings within 7 days at just Rs. 5,499/-

LLP registration  in Madhya Pradesh
topangle bottomangle

Introduction

Limited Liability Partnership in Madhya Pradesh is such form of business where 2 or more people come together to form Partnership for doing a business. Limited Liability Partnership in Madhya Pradesh is also popularly known as LLP and it also enjoy the benefit of separate legal identity which is not available in normal partnership. In this form of business, the liability of Partners is Limited, in other words Partners are liable to pay to the extent of the money they have contributed to start the LLP. Each Partner in LLP is responsible for their own act and cannot be made liable for the misconduct or negligence of other Partner.

 

Limited Liability Partnership in Madhya Pradesh thereby has the features of both Partnership Firm as well as a Company thereby making it one of the attractive entity option for many businesses.

 

A Limited Liability Partnership in Madhya Pradesh has 2 types of Partners – Designated Partners and Partners.

Advantages of LLP

Convenient to Form

It is easy to start and register LLP online in Madhya Pradesh and manage a business like entrepreneurs. LLP agreements are customized in according to meet the needs of partners concerned. There is fewer formalities in areas of legal compilation, annual meeting and resolution as compared to any other Private Limited Company.

 

No Minimum Capital Requirement

New LLP registration in Madhya Pradesh can be done with the minimum amount of capital money. Capital may be in the form of tangible, movable asset like Land, machinery or intangible form.

 

No Requirement of Audit

LLP is required to audit their account in the following situation: When the contributions of the LLP exceeds Rs. 25 Lakhs, or When annual turnover of the LLP exceeds Rs. 40 Lakhs

 

Less Compliance

LLP have to face less compliance burden as they have to submit only two statements i.e. the Annual Return & Statement of Accounts and Solvency. Whereas in the case of private company, at Least 8 to 10 regulatory formalities and compliances are required to be duly completed

 

Disadvantages of LLP

 

High Income Tax Rate

The income tax rate for a company with a turnover of up to Rs.250 crores is 25%. However, LLPs are taxed at a 30% rate irrespective of the turnover.

 

Transfer of Ownership

Transferring the ownership right to someone else is a challenging and a tedious task. The Partners wishing to transfer/her rights will need written consent from all the partners. In case if some Partner raises an objection, the transfer process cannot proceed further.

 

Steps for Formation

Step 1

The first step would be to acquire the DSC for the Designated Partners of the LLP.

 

Step 2

The availability for the name of the LLP must be checked, by making an application for the same in RUN-LLP.

 

Step 3

The forms FiLLiP along with DIN application are to be duly filled and submitted while making an online application.

 

Step 4

An application must be made for PAN (Permanent Account Number) and TAN (Tax Deduction Account Number) mandatorily to get the LLP registered.  

 

Step 5

The registrar verifies the documents and if it is satisfactory, the certificate of incorporation (COI) is awarded along with the PAN and TAN. 

 

Step 6

Draft LLP Agreement and submit LLP agreement in Form 3 within 30 days of incorporation of LLP.

Required Documents

For Designated Partners

PAN Mandatory- Indian National / Passport – Foreign National

Proof of Identity – Voter Id/Passport/Driving License – Any 1

Proof of Address (Electricity Bill/Bank Statement/Telephone Bill/Mobile Bill not older than 2 months) – Any 1

*All documents for Indian National – To be self-attested

*All documents of Foreign National – To be self-attested & apostilled

 

For Registered Office

Proof of Ownership – Sale Deed / Rent Agreement duly signed copy

Copy of Utility Bill – Electricity Bill / Telephone Bill / Gas Bill – Any 1

 

Why Us

·        Skilled Team of CA, CS, and Lawyers, and On-Call Support

 

·        Dedicated Relationship Manager

 

·        Limited Liability Partnership Registration process is managed fully online.

 

·        Quick turnaround and affordable pricing

 

·        Thousands of Happy Customers

 

·        Take advantage of offers like No Cost EMI / Referral Discounts

 

Placeholder Image

Need more details? We can help! Talk to our experts now!

Start Your Business Registration – Talk to Our Experts Now!

FAQs

FAQs

There is no minimum capital requirement in LLP in Madhya Pradesh. An LLP in Madhya Pradesh can be formed with the least possible capital.

1. Utility Bill of Registered Office;

2. Proof of Owneship of Registered Office;

3. Copy of PAN & Aadhar as Identity proof of Partners;

4. Copy of Utility Bill/Bank Statement as Address proof of Partners.

Filing of LLP Form 8 (Statement of Accounts & Solvency) and LLP Form 11 (Annual Return) is mandaory for all the LLP in Madhya Pradesh.

If a limited liability partnership (LLP in Madhya Pradesh) has just two members and both are designated partners, both can become authorised signatories.

Ministry of Corporate Affairs (MCA) is the registering authority for pan India.

Time taken for registration is considered on the basis of working hours of government officials which is 12 working hours on a single day. Therefore, the approx. time taken for formation of entity would be 4 days.

Start your LLP in Madhya Pradesh at just 5,499/-

Setup your Private
shape dot

Loved by founders all over the world

Related Articles