We collect the Purchase and Sales bills, Expense Vouchers, Expense Bills either in soft copy or our in specified formats or physically.
We collect the Purchase and Sales bills, Expense Vouchers, Expense Bills either in soft copy or our in specified formats or physically.
We collect the Purchase and Sales bills, Expense Vouchers, Expense Bills either in soft copy or our in specified formats or physically.
"Let's Protect your identity and Create Value for your brand with team Apedzii"
A Limited Liability Partnership (LLP) is a hybrid business structure that combines the flexibility of a partnership with the benefits of limited liability for its partners. It is a separate legal entity from its partners.
Registration Process
- Name Reservation: Reserve a unique name for the LLP.
- Incorporation: File the LLP agreement and incorporation documents with the Ministry of Corporate Affairs (MCA).
- PAN and TAN: Obtain PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) for taxation purposes.
Advantages
- Limited Liability: Partners have limited liability, protecting personal assets.
- Flexibility: Combines features of partnerships and companies, offering flexibility in management.
- No Minimum Capital Requirement: No minimum capital contribution required for formation.
Points to be Considered
- Compliance Requirements: While less complex than companies, LLPs have certain compliance obligations.
- Complex Structure: More intricate than a traditional partnership, involving registration with the Ministry of Corporate Affairs.
Compliance
- Annual Filings: LLPs need to file annual returns and financial statements with the Registrar of Companies (RoC).
- Audit Requirements: Mandatory audit if annual turnover exceeds a specified threshold.
Liabilities
- Limited Liability: Partners have limited liability, protecting personal assets. However, personal assets may be at risk if there is fraud or negligence.
An LLP is suitable for professionals and businesses where limited liability is crucial but the flexibility of a partnership is desired. It offers a balance between a traditional partnership and a private limited company. Ensure compliance with regulatory requirements and consult with professionals during the formation process.