Smart Platform for Legal, Accounting & Compliance services

www.wazzeer.com

Incorporating a

Limited Liability Partnership (LLP)in India

www.wazzeer.com 2

As an entrepreneur, key factors to consider while choosing the entity type:

• Funding structure/ requirements

• Limited liability

• Founding team structure

• Initial cost

• Compliance work involved

• Tax advantages

Private Limited Company

Limited Liability Partnership

Business Incorporation in India

Partnership

One Person Company

Sole Proprietorship

www.wazzeer.com 3

Mandatory registration

Private Limited Company

Limited Liability Partnership

Partnership One Person Company

Sole Proprietorship

Auditor Appointment

Annual Returns Filing

Limited Liability

Multiple partners

Ease of Incorporation +Compliance

Ease of allotting Share

Yes

Yes

Yes

Yes

Yes

Very Easy

Yes

Yes

Yes

Yes Yes

Easy

Yes

Yes

Yes

Very EasyComplex

No

No

No

Complex Not Possible

Complex

No

Yes

No

No

No

Complex

No

Not Possible

No

Optional

Less Complex

No

Majorly there are 5 entity options for a for Profit Business

www.wazzeer.com 4

Requirement to start LLP:

At least 2 Designated partners

No minimum contribution

Designated Partners are the Shareholder

LLP Agreement

Not required to maintain

any registers

Top 4 Reasons

Limited Liability

Less Compliance

Misconduct by a partner

does not affect other

Why do businesses choose to incorporate as LLP?

Documents Required:

Address proof of Office PAN card of Directors Photo of directors Address proof

of directors Identity Proof

www.wazzeer.com

Share your requirement

DSC +DIN Name Approval + Registration, LLP Form -1

Drafting LLP Deed

Incorporation certificate

Apply LLP Form -2

Apply LLP Form -3 with LLP Deed

+PAN+TAN

1 Day 2 Days

2 Days1-2 Days2 Days

Hire and pay depositShare Documents online

1 Day

Deliverables:

Time to deliver Registration: 7-10 days

DIN approval letter

Name approval letter

Certificate of Incorporation

MoA &AoA

PAN & TAN number

DSC of Director

Registered address approval mail

from MCA

LLP Deed

Company Bank Account

Documents and procedure involved in registering LLP

www.wazzeer.com 6

Company Documents Registration Accounting Legal

‒ Get PAN card (part of incorporation)

‒ Get company TAN (part of incorporation)

‒ Company bank account

‒ Company seal and letterheads

‒ GST

‒ Shops and Establishment

‒ Professional Tax Registration

‒ Professional Tax enrollment

‒ PF Registration

‒ ESI Registration

‒ Trade/ Food License

‒ IEC Registration

‒ Other applicable registrations

‒ Book Keeping

‒ Payroll Processing

‒ TDS monthly Filing & Quarterly Returns

‒ GST Returns Filing

‒ Annual RoC filings

‒ Income tax filings

‒ Vendor Agreement

‒ Employment Contracts

‒ Sexual harassment policy

‒ Consultant/ Freelancer Agreements

‒ Other Contracts

Wazzeer can do

Depends on nature, scale or location of business

The legal, accounting and compliance work to be done in the first 100 days of an LLP

Can I register my office address as my residential address?

Yes. Your residential address can act as the registered office address for a company. If the place is on rent and the bills are in

the owner’s name, a ‘no objection certificate’ will be needed.

Do the directors need to be physically present during this process?

No. The complete process can be carried out online. Wazzeer has developed a Stand Operating Processes that delivers

Business Registration 100% online in a seamless way. You might need to sign and courier us a few documents.

What is a Digital Signature Certificate (DSC)?

The DSC is an instrument issued by certifying authorities to enable you to sign a document electronically. A DSC is required for

signing of multiple documents while registering and then operating a company.

What are the Tax rates for an LLP and is Dividend Distribution tax applicable?

'Firm' tax is applicable to LLP @ 30.90% on net profit of the company. There is no DDT. Profit after tax will be credited to

partners' account and it will not be taxable in the hands of partners again.

www.wazzeer.com

Frequently asked questions (1/3)

What are the documents required for DSC registration?

•1 Address Proof - Any one of: Driving license, Voter ID, Utility bills, Passport, Tax receipts, Bank Statement, PF statement,

•1 Identity Proof - Any one of: PAN card of the applicant (for Indian nationals), Passport of the applicant

Later in future, if partners want to withdraw capital from the firm, how can that be done?

Partners can withdraw capital subject to LLP agreement. It is also possible for a partner to reduce contribution liability after

giving notice to creditors

Can a partner resign or be removed from LLP?

A partner continues as a partner in the LLP even after transferring all his rights in the LLP if LLP agreement provides. A

partner can even resign from the LLP. It is possible to remove a partner subject to the LLP agreement.

What is LLP Name Approval?

Once you decide on the name of your company with reference to LLP Name Guidelines Rule 18 of LLP Rules, you need to

apply to MCA on Form 1. Once approved, the name will be reserved for 90 days.

www.wazzeer.com

Frequently asked questions (2/3)

Can I register my office address as my residential address?

Yes, you can show your own residential or rented home address as the registered office address of the Company. If you take

place for rent, and the bill’s are on the Owner’s name then ‘No Objection Certificate’ is required.

Who can be partners/partners in an LLP?

Any individual (Residents, NRIs, Foreigners), or even a company or an LLP, can become a partner. However, only an individual

can become a ‘designated partner’ in an LLP. Note. at least one of the designated partners in an LLP should be an Indian

national.

What is an LLP agreement?

An LLP agreement is signed by partners of LLP regarding the relationship between the individual partners in the LLP. This

document determines the mutual rights and duties of the partners and their rights and duties in relation to that limited

liability partnership. Partners are to file an agreement by above declaration within 30 days of Incorporation

www.wazzeer.com

Frequently asked questions (2/3)

We make things simple!

Qualified CA or CSExpert in Company incorporation; with 5+ Yrs

experience, 100+ Companies Incorporated

Cost EffectiveBest in industry price; Pay what you see; No

Hidden charges

Hassle Free Delivery

Set SOP; Glitch free project delivery in 7-10 days

Dedicated Account Manager

Your one point contact for all legal, accounting

and compliance matters during registration and

beyond.

www.wazzeer.com

Why choose Wazzeer for this service?

www.wazzeer.com 11

Communicate your requirement

Compare Quotations Relaxand Track

Review and accept delivery

Hire and Pay Deposit

Wazzeer is evolving into a trusted destination for end to end legal, accounting and compliance services

www.wazzeer.com 12

Let’s talk Utkarsh Singh+91 – 9937536453Utkarsh.singh@wazzeer.com

Smart Platform for Legal, Accounting & Compliance services.