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Limited Liability Partnership

Limited Liability Partnership

LLP is one of the easiest form of business to incorporate and
manage in India. one partner is not responsible or liable for
another partner's misconduct or negligence. LLP is a blend of
both partnership and a company. The main reason for introduction
of Limited Liability Partnership (LLP) is to provide a form of business
entity that is simple to maintain while providing limited liability to the
owners.


Advantages

  • eparate legal entity from its partners
  • Easy to form as its formation involves less formalities and cost of
    incorporation is also low compared to companies.
  • Notwithstanding any changes in the partners of the LLP, the LLP will be a same entity with the same privileges, immunities, estates and possessions.The business will continue to run as per relevant laws.
  • Since regulated its easy to raise finance in LLP as compare to proprietorship and Partnership.
  • Audit is mandatory only where the annual turnover exceeds 40Lakhs and capital contribution exceeds 25 Lakhs.Thus small businessman feels relieved

  • Registration

  • In order to start an LLP minimum 2 partners are required no limitation on maximum partners.
  • Partners DIN & DSC numbers are needed.
  • Name of the LLP to apply and get approved
  • LLP Agreement drafting.
Documents
  • ID & Address proof of all partners.
  • PAN Card
  • Rent agreement and NOC from the owner if the property is rented
  • Ownership documents in case the property is owned
Traditional
₹ 1000
  • Unlimited Bandwidth
  • Unlimit Space
  • 100 Database
  • 1000 Email Addresses

Faq's

Is it necessary to Register for GST ?

All existing taxpayers registered under any of the following Acts :
a) Central Excise
b) Service Tax
State Sales Tax or VAT (Except exclusive liquor dealers if registered under VAT)
a) Entry Tax
b) Luxury Tax
Entertainment Tax (Except levied by Local Bodies)
have to register for GST. The enrolment for GST will ensure smooth transition to the GST regime.

Is the Registration process different for taxpayers registered under Centre, State or Union Territory Tax Acts ?

No. The Registration process is common for all taxpayers registered under Centre, State or Union Territory Tax Acts

Do existing taxpayers required to enrol separately with Central and State authorities under GST ?

Registration under GST is common for both GST and State GST. Also there is common Return and common Challan for Central and State GST.

When will Provisional Registration Certificate be issued ?

The Provisional Registration Certificate will be available only if the Registration Application is submitted successfully.

When will be the Final Registration Certificate be issued ?

The Final Registration Certificate will be issued within 6 months from the date of verification of documents by Authorised Center/State officials of the concerned Jurisdiction.