LLP Consultant - LLP Registration in Ahmedabad

Format Form 9

LLP Consultant — Wed, 19 Feb 2025 11:12:36 +0000

Form 9
Consent to act as Designated Partner/Partner

To,
Name of LLP (Proposed)
Address:
_______________
_________________

Subject: Consent to act as Designated Partner/Partner of Limited Liability Partnership

I, [Full Name], residing at [Full Address], hereby give my consent to act as a Designated Partner/Partner of [Name of the LLP] pursuant to the provisions of the Limited Liability Partnership Act, 2008 and the rules made thereunder.

Full Name: [Full Name]
Father’s/Husband’s Name: [Father’s/Husband’s Name]
Date of Birth: [DD/MM/YYYY]
Nationality: [Nationality]
Occupation: [Occupation]
Permanent Address: [Permanent Address]
PAN: [PAN Number]
DIN/DPIN (if applicable): [DIN/DPIN Number]

Declaration

I declare that I have not been convicted of any offence in connection with the promotion, formation or management of LLP and have not been found guilty of any fraud or misfeasance or of any breach of duty to any LLP under this Act or any previous company or LLP law in the last five years.

Signature: ________________________

Designation: Designated Partner/Partner

Date: [DD/MM/YYYY]
Place: [City]

Want to register LLP in Ahmedabad ?
Contact LLPconsultant.com for LLP Registration in Ahmedabad.
We will register your LLP in Ahmedabad within 5 working days.

Register Your LLP in Ahmedabad @ Rs. 6500.
LLP REGISTRATION IN AHMEDABAD
http://LLPconsultant.com
call: 073832 47698

The post Format Form 9 first appeared on LLP Registration in Ahmedabad.

Benefits of Losses in an LLP for Startups

LLP Consultant — Thu, 06 Feb 2025 09:42:56 +0000

Carry Forward Losses:
1. Losses from the business can be carried forward for up to 8 years and adjusted against future profits when the business starts generating income.
Unabsorbed Depreciation:
1. Depreciation that cannot be fully utilized in the current year can be carried forward indefinitely and set off against any future income.
Reduced Tax Liability in Profitable Years:
1. When your startup starts earning profits, carried-forward losses will reduce the taxable income, lowering the tax liability.

For more assistance with LLP taxes, compliance, or registration, visit llpconsultant.com and let our experts guide you!

The post Benefits of Losses in an LLP for Startups first appeared on LLP Registration in Ahmedabad.

COMPARE LLP, PARTNERSHIP AND COMPANY;

oqdhtx — Thu, 09 Jan 2020 15:01:44 +0000

Sr. No.	Particulars	Partnership	LLP	Company
1	Liability	Every partner is liable jointly with all other partners and also severally for all acts of the firm done while he is a partner	A liability of partner is limited to the extent of his contribution. A partner is personally liable for his own wrongful act i.e. act, which is not authorised by LLP or for fraud on his part	Liability of Shareholders is limited to the extent of his shareholding in the company.
2	Taxation	1. Income Tax[30%+3%ED] 2. No Surcharge on IT 3. Profits will be taxed in the hands of partnership Firm and not in the hands of partners. 4. MAT is not applicable. 5. Remuneration of partners will be taxed in the head of “Income from Business or Profession”.	1. LLPs will be treated at par with partnerships for the purpose of Income Tax [30%+3%ED]. 2. No Surcharge on IT. 3. Profits will be taxed in the hand of LLPs. 4. MAT is not applicable. 5. Remuneration of partners will be taxed in the head of “Income from Business or Profession”.	1. Effective Tax including ED and Surcharges will be [33.99%] 2. DDT is applicable on distribution of Dividend. 3. MAT is applicable. 5. Directors remuneration is taxable under Salary.
3	Perpetual Succession	It does not have perpetual succession; death of one partner can dissolve it.	LLP has perpetual succession; it means LLPs may exist even though there are many changes in partners or members.	It has perpetual succession, member may come and go but company does always exist, except some circumstances.
4	Investment	Partnership is not allowed to invest in other shares of other company or LLP in Firms’ name.	LLP can invest in shares of other company or LLP in its own name.	Company can invest in shares of other company or LLP in its own name.
5	Legal Proceedings	Only registered Partnership Firm can sue third party or it can be sued.	LLP is a Legal Entity, which can sue or can be sued.	Company is a Legal Entity, which can sue or can be sued.
6	Bank Finance	Banker does not prefer this form of business due to less protection.	Since registration of charges in this case not available, bankers do not have sufficient protection.	Banker enjoys sufficient protection.
7	Compliances	There is minimum compliance under Partnership Act.	There are minimum compliances under LLP Act.	Too much compliance under Companies Act.
8	Information available in Public Domain	Since Balance sheet and Profit & Loss account is not required to be filed with the Registrar of Firms, these information are not available.	Statement of Accounts and Statement of Solvency is required to be filed with ROC within 30 days after end of 6 months form end of financial year.	Annual Accounts, Annual Returns, Various event based forms are required to be filed with ROC.
9	Related Party Transactions	There no restriction on contracts with related parties.	In LLPs also no such restrictions on these types of contracts	There are restrictions related to Related Party Transactions
10	Liquidation	Simple Process	Will be done according to provisions of LLP Act, 2008	Will be done according to provisions of Companies Act, 2013
11	Foreign Direct Investment	NRIs/PIO can invest on non repatriation basis subject to conditions. Other than NRIs/PIO required RBI’s permission.	10^th November, 2015, 100% FDI is allowed for business operating in sectors/ activities, where 100% FDI is allowed, through Automatic Route and there is no FDI-linked performance conditions have been prescribed.	The Goverment has allowed 100% FDI in Private Limited and Public Limited Companies through Automatic Route in some Sectors/ operations in which 100 % FDI is allowed through Automatic Route.
12	Identity of promoters	Identities of promoters are not verified by any Government Agencies.	Designated Partners are required to have DPIN and well identified.	Directors are required to have DPIN and well identified.
13	Cost of Formation	Least cost of formation up to Rs. 5000/-	Minimum Fees to be paid Rs. 5000/- and professional Fees	High fees as compared to LLPs/ Partnerships
14	Restriction of having name	There is no restriction in this case.	Name of existing LLP and company cannot be provided.	Name of existing LLP and company cannot be provided.
15	Confidentiality	All documents and deeds are confidential and not available for outsiders.	LLP Agreement, Incorporation documents, returns etc., are in public domain.	The MOA/AOA, incorporation documents, Annual Accounts, Annual returns, various forms are in public domain.
16	Registration of Charges	Not required in this case	Not required	Registration, Modification and Satisfaction registration is required.

The post COMPARE LLP, PARTNERSHIP AND COMPANY; first appeared on LLP Registration in Ahmedabad.

Why Your Startup Should Be An LLP ?

oqdhtx — Thu, 26 Jul 2018 14:07:38 +0000

A Limited Liability Partnership (LLP) is a partnership in which some or all partners have limited liability. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner’s misconduct or negligence. This is an important difference from that of an unlimited partnership.

Salient features of an LLP

An LLP is a body corporate and legal entity separate from its partners. It has perpetual succession.

Being the separate legislation (i.e. LLP Act, 2008), the provisions of Indian Partnership Act, 1932 are not applicable to an LLP and it is regulated by the contractual agreement between the partners.

Every Limited Liability Partnership shall use the words “Limited Liability Partnership” or its acronym “LLP” as the last words of its name.

Every LLP shall have at least two designated partners being individuals, at least one of them being resident in India.

Need for LLP

For a long time, a need has been felt to provide for a business format that would combine the flexibility of a partnership and the advantages of limited liability of a company at a low compliance cost.

This format would be quite useful for small and medium enterprises in general and for the enterprises in services sector in particular.

LLP is more similar to operating a Limited Company. In terms of liability, the Limited Liability Partnership is itself liable for debts run up in running the business, rather that the individual members of the LLP.

The post Why Your Startup Should Be An LLP ? first appeared on LLP Registration in Ahmedabad.