Limited Liability Partnership Firm
LLP refers to Limited liability partnership and is governed by the Limited Liability Partnership Act 2008. Limited Liability partnership provides the advantage of limited liability to its owners and at the same time requires minimal maintenance. The directors of any private limited company have limited liability to creditors. In case of default, banks/creditors can only sell the company’s assets and not the personal assets of directors.
What does it includes ?
Documents Required to Register LLP
Documents of Partners
Documents of LLP
PAN Card/ ID Proof of the Partners
Proof of Registered Office Address
Address Proof of the partners
Digital Signature Certificate
Residence Proof of Partners
Passport (in case of Foreign Nationals/ NRIs)
Mandatory Compliance of Limited Liability Partnership Firm
Documents Required For Annual Compliances For LLP
Procedure For Annual Compliance Fulfillment
Penalty For Non-Compliance

Non-compliance will leads to heavy penalty of minimum ₹25000 and maximum ₹5 Lakhs in case of LLP which is much more than in comparison to private limited company i.e. ₹1 Lakh. Fine of minimum ₹10000 is also charged from every partner of LLP separately which may extend to maximum of ₹100000

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