STATUTORY COMPLIANCE FOR LLP
FOLLOWING COMPLIANCES ARE IMPORTANT AFTER LLP INCORPORATION PROCESS:
1. Registered office capable of receiving notices and communications to be set up by the designated partners of the LLP.
2. LLP agreement has to be filed within 30 days from the date of the incorporation of the LLP and it is a statutory compliance for LLP Incorporation as the LLP Agreement defines the set of rules and guidelines to be followed by the Partners of the LLP.
3. Seal of the LLP Incorporated must be obtained as it is required for the PAN Card Allotment and the Bank Account Opening procedures.
4. LLP Business Letter head and all other relevant publications of the LLP must be mentioning the name, address, email ids, Phone numbers, Fax, Website Address of the LLP.
5. LLP Pan Application must be submitted once the LLP is incorporated and the PAN acknowledgment must be signed and sealed by the designated partners of the LLP.
6. Opening a Bank Account with the copies of the documents of the LLP incorporation
7. LLP Auditor Appointment is required if only the turnover of the LLP exceeds 40 lakhs in one financial year otherwise there is only requirement of maintenance of proper books of accounts and records.
8. Annual LLP Filing to be filed within 60 days from the end of the financial year and the details submitted includes the number of designated partners in the LLP, their names and the management affairs of the LLP. Annual filing is submitted through FORM 11
9. Statements of Accounts and solvency details has to be filed by the designated partners to declare the amount of profit earned by the LLP and the same is submitted in Form 8 accompanying the signatures of the designated partners of the LLP and also signatures of any certified CA or CS.
10. Income Tax Returns Filing
WHAT IS A LIMITED LIABILITY PARTNERSHIP?
Incorporation of a Limited Liability partnership is a new structure brought into existence by the LLP Act, 2008with an intention to give flexibility to the existing partnership firms to convert their business into a Legal Entity or to the new businesses deriving to become a Legal Entity where the Liability of the Partners is Limited to the agreed contribution that they have in the Company in accordance with the agreed terms of all the partners penned down in LLP Agreement.KNOW MORE ABOUT LLP INCORPORATION PROCESS
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