5 Steps for private limited company registration

The name of the company is the first and foremost decision that a person makes for new company registration. It is the first identity that goes out to consumers or investors that’s why it needs to be unique, desirable and one of its kind to make it stand out of the rest. Therefore, choosing a right name of new private limited company registration becomes extremely important and should be done meticulously.

Process of LLP Registration

  • Post:CA Sundram Gupta
  • August 19, 2020
Company Registration

LLP Registration is a form of business registration in which all or some of the partners have limited liabilities. It, therefore, exhibits elements of both the partnership and corporation form of business. Even company registration has limited liability for the its shareholders. In LLP, each partner is not liable for another partner’s misconduct or negligence.

LLP is a form of partnership with a limited liability similar to private limited company registration in India

  • Obtain DIN and DSC: The first step in this process is to obtain Digital Identification Number by the designated partners of the LLP. It is because all the documents are to be submitted online and therefore required to be signed digitally. Also, all the designated partners need to apply for Director Identification Number (DIN) that has to be made in Form DIR-3.

  • Apply for Name Approval: Limited Liability Partnership- Reserve Unique Name is filed for the reservation of the name of proposed LLP which shall be processed by the Central Registration Centre under Non-STP. But before mentioning the name in the form it is recommended to check the availability of the proposed name on the MCA Portal. It will provide the list of closely resembling names of existing LLPs based on the search criteria filled. Now you can choose the name of the LLP keeping in mind the names that are already existing. The Registrar will approve the name that is not undesirable by the Central Government and does not resemble to any existing name.

  • Incorporation of LLP: Once the name of the LLP gets reserved you can fill Form-2 “Incorporation Document and Statement” which shall be filled with the Registrar who has jurisdiction over the state in which the Registered Office of the LLP is situated. The prescribed registration fees is to be paid and after submitting all the required documents correctly you will get and Incorporation Certificate.

  • TAN, PAN number and Bank Account: Permanent Account Number (PAN) and Tax Assessment Number (TAN) comes along with LLP incorporation certificate rather than apply it separately.

  • Filing of LLP Agreement and Partner’s Details: Form 3 for LLP Agreement and Form-4 for Partner’s details may be filed with the prescribed fee simultaneously at the time of filing of Form-2 or within 30 days of incorporation or within 30 days of such subsequent changes.

LLP is a form of partnership with a limited liability similar to private limited company registration in India. There are some companies which have converted their company in LLP to reduce the compliance cost which is comparatively less in LLP. Detail process of LLP registration is covered above and Patron Accounting make business registration including company registration or LLP registration easy and seamless. We promote start-ups and assist start-ups in all accounting related companies for company registration or LLP registration.

Looking for Business registration in Pune? Patron Accounting is a accounting firm based in Pune of experienced and qualified professionals offering various services such as Business Registration, Accounting Services, Online GST Registrations, Tax Planning, Stock Audit, GST Return filing Services. Having an experience we always come with plan to lay out a smooth process that is effective and efficient. Owing to large networks across India, we tend to deliver your accounting needs simultaneously at multiple locations.

CA Sundram Gupta is a Chartered Accountant and forensic auditor having 10 years of experience in the field of Auditing, GST, Income tax and Accounting. He has given consultation to distinct industries over these years.

Read more-What is a public company


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