LIMITED LIABILITY PARTNERSHIP
    WE OFFER

    We offer a spectrum of services to domestic and foreign companies which includes Company Registration & their Annual Compliances, Secretarial & Legal assistance, MIS & Data Analytics, Business Intelligence & Interactive dashboarding, Accounting & Bookkeeping and Business Process Outsourcing. We are a team of professionals with competitive pricing. You may register your query through ‘Chat with us’ at the bottom of this page or send us an e-mail on [email protected] or find our details on ‘Contact us’ page. Our Specialist Advisor will get back to you in 2-3 working days.

    L

    imited Liability Partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It is well defined as a structure which is easy to incorporate with minimal compliance formalities. If you are a micro or small business owner which is family owned or held closely and/or a business professional, this form of business is designed for you. It is one of the easiest form of businesses to incorporate and manage in India. The main advantage of a Limited Liability Partnership over a traditional partnership firm is that in a LLP, one partner is not responsible or liable for another partner’s misconduct or negligence. A LLP also provides limited liability protection for the owners from the debts of the LLP.

    It is a separate legal entity governed by the LLP Act of 2008 which allows you to enter into contract with other entities, sue or be sued, own assets and borrow funds in the name of LLP firm. This distinguishes it from a regular partnership firm.

    LLP agreement would define the operating structure which includes roles and responsibilities of partners. Usually, LLPs select a ‘Designated Partner’ who controls the day-to-day affairs of the firm.  It also helps in protecting partner’s interest in case of loss due to unlawful act of any other partner

    If you want to safeguard your personal assets in case of loss or insolvency, this is your cup of tea. One partner is not held responsible for the actions of negligence or misconduct of any other partner. Liability of financial contribution of any partner is restricted to the capital contribution as per the LLP agreement.

    LLP requires lesser compliances over a Private Limited Company. There are many compliances that do not apply to this structure such as board meetings, audit requirements, statutory meetings, etc. In addition, the services offered by professionals are economical for LLPs as compared to a private company. This may be ideal for start-ups who do not have any equity funding requirements.

    Since LLP  is a separate legal entity separate from its Managing Partners, the ownership of the LLP can be changed by changing the Managing Partners, the ownership of the LLP can be changed.

    There are multiple tax advantages to LLP:

    • Partners can give a loan to LLP and vice-versa. There is no restriction in receiving or providing loans.
    • There is no dividend tax in case of LLP but in the private limited company, if you want to pull your profit from business it is taxable.
    OUR PROCESS
    DOCUMENTS REQUIRED
    POST INCORPORATION
    OUR PRICING
    OUR PROCESS
    WE COLLECT DETAILS

    Please fill basic details in form & share required documents

    SIT BACK & RELAX

    Let us Do it for you. Do Nothing & collaborate with us

    REGISTRATION DONE

    We complete the process & incorporation certificate is given

    This is what we do when YOU SIT BACK & RELAX

    • Review the documents and information provided
    • Apply for Digital Signature Certificate (DSC)
    • Check availability of company name with MCA
    • Draft Memorandum of Association (MOA)
    • Draft Articles of Association (AOA)
    • Draft all other incorporation documents
    • Reserve name with MCA
    • Apply for Directors Identification Number (DIN)
    • Apply for company incorporation with MCA
    • Apply for PAN and TAN of company
    DOCUMENTS REQUIRED
    Foreign Companies

    In case of NRI or Foreign National, documents of partner(s) must be notarised and/or apostilled

    Latest Passport size photograph of Partners

    • Aadhar card and Voter ID/ Passport/ Driving License of Partners
    • PAN Card of Partners
    • Foreign nationals must provide a valid passport

    Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Partners

    The above documents should not be more than 2 months old

    • Latest Electricity Bill/ Telephone Bill of the registered office address
    • No Objection Certificate to be obtained from the owner(s) of registered office
    • Rent Agreement of the registered office should be provided if any

    All other incorporation documents to be provided in soft copy

    POST INCORPORATION

    Maintaining books of accounts as per Indian GAAP

    Books of accounts have to be maintained under different statutes – Income Tax Act, Companies Act 2013 and GST Act. All the respective acts specify the nature of books to be maintained, retention period and other statutory requirements

    LLP Agreement

    LLP Agreement must be filed with the Ministry of Corporate Affairs within 30 days of incorporation

    Auditor appointment

    Auditor has to be appointed within 30 days of LLP Incorporation

    Annual Return

    Annual Return has to be filed in LLP Form 11

    Registered Office

    LLP must have its registered office within 30 days from the date of incorporation and all the times thereafter

    Letterheads

    Letterheads should have few mandatory fields as name, address, Phone No, Fax, etc

    Bank Account

    Bank account of the LLP has to be opened on incorporation

    TAN

    Applying TAN of LLP on incorporation

    PAN

    Applying PAN of LLP on incorporation

    TDS return

    A TDS Return is submitted on a quarterly basis to Income Tax Department. It is a summary of all the transactions related to TDS made during a quarter

    Income tax return

    LLP is required to file their income tax return using Form ITR 5

    GST Registration

    Entities required to register for GST as per regulations must file for GST application within 30 days from the date on which the entity became liable for registration under GST

    GST returns

    GST returns have to filed on monthly, quarterly and annual basis

    Tax audit

    Every LLP whose turnover exceeds INR 1 Cr. in case of a business or INR 50 Lakh in case of a profession, is required to get its books of accounts tax audited under section 44AB of the Income-tax Act

    Statutory Audit

    The accounts of every LLP shall be audited in accordance with Rule 24 of LLP, Rules 2009. Such rules, inter-alia, provides that any LLP, whose turnover does not exceed, in any financial year, forty lakh rupees, or whose contribution does not exceed twenty five lakh rupees, is not required to get its accounts audited. However, if the partners of such limited liability partnership decide to get the accounts of such LLP audited, the accounts shall be audited only in accordance with such rule

    Transfer pricing rules and certificaion would be required

    Any individual/company/LLP which has undertaken an international transaction with an associated enterprise is required to maintain documentation as per the rules. Also, any individual/company/LLP which has entered into an international transaction during a previous year is required to obtain an Accountant’s Report and furnish report before 30th November of the financial year

    If a LLP fails to comply with the rules and regulations of the Companies Act, then the LLP and every officer who is in default shall be punishable with fine for the period for which default continues. In case of delays, additional fees is required to be paid and it inceases with time.

    OUR PRICING
    basic
    ₹7,999
    All inclusive
    ROC Incorporation fee
    State Stamp Duty
    Digital Signature Certificate
    Designated Partner Identification Number
    LLP Name Reservation on MCA
    Partnership Deed drafting
    LLP Identification number
    Permanent Account Number
    Tax Deduction & Collection Account Number
    LLP Incorporation Certificate
    Drafting LLP Agreement
    new
    standard
    Most Preferred
    ₹14,999
    All inclusive
    ROC Incorporation fee
    State Stamp Duty
    Digital Signature Certificate
    Designated Partner Identification Number
    LLP Name Reservation on MCA
    Partnership Deed drafting
    LLP Identification Number
    Permanent Account Number
    Tax Deduction & Collection Account Number
    LLP Incorporation Certificate
    Drafting LLP Agreement
    GST Registration
    Form 8 filing
    Form 11 filing
    premium
    ₹21,999
    All inclusive
    ROC Incorporation fee
    State Stamp Duty
    Digital Signature Certificate
    Designated Partner Identification Number
    LLP Name reservation on MCA
    Partnership Deed drafting
    LLP Identification Number
    Permanent Account Number
    Tax Deduction & Collection Account Number
    LLP Incorporation Certificate
    Drafting LLP Agreement
    GST Registration
    Form 8 filing
    Form 11 filing
    3 Months GST return
    Income Tax filing
    10% discount in annual compliance packages

    WHAT OUR CUSTOMERs SPEAK

    Puneet Srivastav
    Puneet Srivastava
    Helium
    Australia

    It has been an absolute delight working with Manish and Stairfirst to support the set up and managing the compliance requirements for our Indian subsidiary. The team is super responsive, best at their game and acts as a trusted partner to guide you through the complex maze of regulatory needs. They have also been accommodating in some extra services we have requested few times at very competitive price. I will highly recommend working with them.

    Emma
    Emma Jones
    Disruptive Hiring
    United Kingdom

    Stairfirst helped us set up Indian subsidiary of our UK Company in timely manner. They understood what we needed and got on with it. StairFirst has become a trusted partner which takes care of all our Annual compliance, RBI Clearances, Income tax and Corporate compliances, Accounting and Payroll services. I am extremely happy to recommend their services.

    Alok Profile pic 2
    Alok Alamban
    Entrepreneur
    Canada

    Team at Stairfirst is always responsive. Their knowledge on regulations and processes is amazing. This is crucial when making decisions while setting up a new business. Our experience with them has been positive. We look forward to continued relationship. Wishing the team more success ahead.

    Connect with us
    OUR OFFICE
    438, Fourth Floor, Spaze i Tech Park, Sohna Road, Sector 49, Gurugram - 122 018, India
    OUR EMAIL
    Drop us an email at
    [email protected]
    Support
    'CHAT with us' or
    call us at +91 99718-86104