What is an LLP?

A Limited Liability Partnership (LLP) is a unique combination of a company and a partnership. It offers the operational flexibility of a partnership while providing the benefit of limited liability—which means partners are not personally liable for the debts or misconduct of the firm or other partners.

The concept was introduced in India via the LLP Act, 2008, making it a favored business structure among professionals and small businesses.

Key Features of LLP

• Separate Legal Entity

• Perpetual Succession

• Limited Liability for Partners

• No Minimum Capital Requirement

• Low Cost of Formation & Maintenance

• Minimal Compliance Burden

• Audit not mandatory unless contribution exceeds ₹25 Lakhs or turnover exceeds ₹40 Lakhs

Minimum Requirements for LLP Registration

Advantages of LLP

• Limited Liability Protection

• Low Registration & Operational Cost

• No Mandatory Audit (subject to turnover/contribution thresholds)

• Legal Recognition & Perpetual Succession

• Flexibility in Management & Ownership

• Ideal for Professionals and Family-Owned Businesses

Who Should Opt for LLP?

LLPs are ideal for:

• Professional service firms (CA, legal, consulting)

• Small & medium enterprises

• Family-owned businesses

• Freelancers & startups avoiding rigid company structures

❗ Not suitable for businesses aiming for equity funding from VCs or Angel Investors.

Documents Required for LLP Registration

For Partners:

• PAN Card (mandatory)

• Aadhaar Card/Passport/Voter ID/Driving License

• Latest Utility Bill/Bank Statement (not older than 3 months)

• Passport-size photograph

• Email ID & Mobile Number

For Registered Office:

• Address Proof (Electricity/Gas/Water bill)

• NOC from the Property Owner

• Rent Agreement/Sale Deed (if applicable)

Step-by-Step LLP Registration Process

1. Name Reservation

• Apply online through RUN LLP form on the MCA portal

• Propose two unique names with justification

• Once approved, the name is reserved for 20 days

2. Obtain DSC (Digital Signature Certificate)

• Required for signing e-forms

• Apply for Class 2 or Class 3 DSC for all designated partners

3. File Form FiLLiP (Incorporation Form)

• Fill LLP incorporation form (FiLLiP) online

• Attach required documents: partner’s consent, ID proofs, address proof

• DIN can also be applied within this form

• Must be digitally signed and certified by CA/CS/CWA

4. Receive Certificate of Incorporation

• After approval, MCA issues the Certificate of Incorporation with LLPIN

5. Execute and File LLP Agreement

• Agreement defines roles, rights, and duties of partners

• File Form 3 within 30 days of incorporation

• Must be printed on stamp paper (value depends on the state & capital)

LLP Registration in Aurangabad – Why S. R. Mahajan & Co.?

At Sr Mahajan & Co., we make the registration process simple, fast, and affordable. Here’s why clients across Maharashtra trust us:

• Experienced CA professionals

• End-to-End Support from Name Reservation to Agreement Filing

• Timely & Transparent Communication

• 100% Compliance Guarantee

• Affordable Packages with No Hidden Charges