Designated partners are responsible for planning and executing business policies. They make decisions regarding supervision of the LLP and regarding products and services. The Limited Liability Act in India requires a minimum of 2 designated partners to register an LLP.
There is no minimum capital requirement for registering a LLP in India. The LLP registration fee varies based on capital.
The proposed directors should produce the following documents.
* PAN of the Directors
* Address Proof (copy of Passport/ Voter's ID/ Driver's License/ Bank Statement)
* Passport Size Photo
* Address Proof of the place of business (copy of the rental agreement or electricity bill)
The Information Technology Act, 2000 provides for use of Digital Signatures on the documents submitted in electronic form. All filings with the Ministry of Corporate Affairs are required to be filed with the use of digital signatures. We will get the digital signature for one of the director who will also be the authorized signatory.
Directors of companies and designated partners of LLP must have DIN. All intending Directors have to obtain DIN. DIN is an unique identification number given to directors. The DIN form has to be certified by a professional to ensure correctness of the information provided in the DIN form.
The LLP name should reflect the business objects of the LLP. Choose a LLP name which does not resemble any existing companies or LLPs. If the proposed names resemble any existing business entity, the Registrar of companies may reject the name application.
To avoid delay, we request you to suggest a minimum of 6 names in the order of preference.
The subscribers of the LLP need to write their name, address and occupation in their own hand writing and sign the document. This document has to be witnessed by a professional.
On the successful filing of documents and if found correct, the Registrar of Companies will issue the Certificate of Incorporation (COI), which is conclusive evidence that the LLP is registered under The Limited Liability Act. The date mentioned in the certificate is the date of incorporation of the LLP.
The LLP agreement need to be drafted, stamped, and signed by the partners of the LLP. TH eLLP agreement will have the address, objects of the LLP, Partners details, profit sharing and it has to be witnessed.
Permanent Account Number (PAN) is unique number issued by the Indian Income Tax Department and is mandatory for financial transactions such as opening a bank account, receiving taxable salary, tax payment etc.
TAN or Tax Deduction and Collection Account Number is required to be obtained by all persons/companies who are responsible for deducting or collecting tax. It is compulsory to quote TAN in TDS/TCS return (including any e-TDS/TCS return).