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Looking to form a Limited Liability Partnership (LLP) in West Bengal?

Setup a Limited Liability Partnership (LLP) in West Bengal with Instabizfilings within 7 days at just Rs. 6,999/-

LLP registration in West Bengal
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Introduction

Limited Liability Partnership in West Bengal is such form of business where 2 or more people come together to form Partnership for doing a business. Limited Liability Partnership in West Bengal 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 West Bengal 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 West Bengal has 2 types of Partners – Designated Partners and Partners.

Advantages of LLP

  • Convenient to Form : LLP can easily be started and registered online in West Bengal and a business can be managed like typical entrepreneurs. LLP agreements are tailored in accordance with the requirements of the partners concerned. There are less formalities in the field of legal compilation, annual meeting and resolution as compared to any other Private Limited Company.
  • No Minimum Capital Requirement : At​‍​‌‍​‍‌​‍​‌‍​‍‌ the very minimum, a New LLP registration in West Bengal can be accomplished. Capital can be a tangible, movable asset such as Land, machinery or an intangible one.
  • No Requirement of Audit :  Within case the contributions of the LLP are beyond Rs. 25 Lakhs, or Within case annual turnover of the LLP is greater than 40 Lakhs.
  • Less Compliance : LLP are less obliged to compliance because they are required to prepare only two statements i.e. Annual Return and Statement of Accounts and Solvency. In comparison with the scenario of a company in the private environment, at least 8 to 10 regulatory formalities and compliances must be licensed properly.

 

Disadvantages of LLP

 

  • High Income Tax Rate : The company income tax rate for a business with a turnover of up to Rs.250 crores is 25%. Nevertheless, a Limited Liability Partnership (LLP) is charged a tax rate of 30% irrespective of the turnover.
  • Transfer of Ownership : The transfer of ownership right to another party is a difficult and lengthy process. The Partners who wish to transfer/her rights would require consent from all the partners. If there is an objection from some of the Partners, it will be impossible to continue with the transfer.

 

Steps for Formation

  • Step 1 : The first step would be to acquire the Digital Signature Certificate (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 Director Identification Number (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 Card is 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
  1. All documents pertaining to Indian National – To be Self Attested
  2. 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

 

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FAQs

There is no minimum capital requirement in LLP in West Bengal. An LLP in West Bengal 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 West Bengal.

If a limited liability partnership (LLP in West Bengal) 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.

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