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    Business Law

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    Dharvi Singhal
    This document outlines the process for forming a limited liability partnership (LLP) in India. It discusses the prerequisites, which include a minimum of two partners and designated partners, one of whom must be a resident of India. The incorporation process involves procuring digital signature certificates, reserving an LLP name, preparing required documents, applying for incorporation and DIN/DPIN, applying for PAN and TAN numbers, and drafting and filing the LLP agreement. Key steps include filing forms, submitting documents, and obtaining a certificate of incorporation upon approval of the application.

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    Business Law

    Uploaded by

    Dharvi Singhal
    45 views10 pages
    This document outlines the process for forming a limited liability partnership (LLP) in India. It discusses the prerequisites, which include a minimum of two partners and designated partners, one of whom must be a resident of India. The incorporation process involves procuring digital signature certificates, reserving an LLP name, preparing required documents, applying for incorporation and DIN/DPIN, applying for PAN and TAN numbers, and drafting and filing the LLP agreement. Key steps include filing forms, submitting documents, and obtaining a certificate of incorporation upon approval of the application.

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    It have business law noted for semester-2 Bcom (hons)

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    Business Law ppt

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    This document outlines the process for forming a limited liability partnership (LLP) in India. It discusses the prerequisites, which include a minimum of two partners and designated partners, one of whom must be a resident of India. The incorporation process involves procuring digital signature certificates, reserving an LLP name, preparing required documents, applying for incorporation and DIN/DPIN, applying for PAN and TAN numbers, and drafting and filing the LLP agreement. Key steps include filing forms, submitting documents, and obtaining a certificate of incorporation upon approval of the application.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    45 views10 pages

    Business Law

    Uploaded by

    Dharvi Singhal
    This document outlines the process for forming a limited liability partnership (LLP) in India. It discusses the prerequisites, which include a minimum of two partners and designated partners, one of whom must be a resident of India. The incorporation process involves procuring digital signature certificates, reserving an LLP name, preparing required documents, applying for incorporation and DIN/DPIN, applying for PAN and TAN numbers, and drafting and filing the LLP agreement. Key steps include filing forms, submitting documents, and obtaining a certificate of incorporation upon approval of the application.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 10

    LIMITED

    LIABILITY
    PARTNERSHIP
    FORMATION AND
    INCORPORATION
    OF LLP
    MADE BY- DHARVI
    SINGHAL
    ROLL NUMBER- 21/291
    Introduction
    Limited Liability partnership is a body corporate and legal entity separate
    from its partner.

    PRE-REQUISITES FOR INCORPORATING A LLP

    • Minimum two partners ( Individual or body • Digital signature certificate


    corporate) • LLP Name
    • Minimum two designated partners who are • LLP Agreement
    individuals and at least one of them should be • Registered Office
    resident in India.
    Procure Digital Signature Certificate
    INCORPORATION
    PROCESS Reserve LLP name

    Preparation of Documents for


    Incorporation of LLP

    LLP Incorporation and DIN


    Application

    Apply for PAN and TAN

    Drafting and Filing LLP Agreements


    STEP 1 - PROCURE DIGITAL SIGNATURE
    CERTIFICATE

    01 02 03
    Every form or application The designated partner It further requires
    requires to be digitally obtain their Digital passport size photograph
    signed by the applicants Signature Certificates and address proof.
    and partners of LLP. (DSC) from government
    recognized certifying
    agencies.
    STEP 2 - RESERVE LLP NAME

    1.Applicants need to need 2. The application can be


    to file a web form named made with maximum 2
    RUN-LLP ( Reserve names in preferred order
    Unique Name- Limited providing their
    Liability Partnership ) significance.

    4.Once the name is alloted 3.The name must comply


    for LLP, it is reserved for a with the applicable
    period of 90 days from provisions for name
    date of approval. reservations.
    STEP 3- PREPARATION OF DOCUMENTS FOR
    INCORPORATION OF LLP

    Proof of office address NOC from owner of the Copy of utility bills ( not
    property older than 2 month)

    LLP applicant is required to prepare the


    following document -

    Subscription sheet All the DPs should have Details of the LLP(s)
    including consent digital signature
    STEP 4- LLP INCORPORATION AND DIN
    APPLICATION

    1.FiLLiP ( Form for 2. The application is 3.If the registrar finds it


    incorporation of Limited accompanied with the necessary to call for
    Liability Partnership) required documents further documents or
    intigrated with DIN including the subscriber's information, he may do so
    ( Director Identification sheet and registered office by directing for re-
    Number) is to be filled. address proof. submission within 15 days.

    4.It is provided that the


    5. Upon approval of the application made for LLP registration
    total period for re-
    online, the Certificate of Incorporation (CoI) will be issued in
    submission of documents
    form 16 along with DPIN/DIN allotted to the Designated
    shall not exceed 20 days in
    Partners.
    total.
    STEP 5 - APPLY FOR PAN AND TAN

    01 02 03
    The application for PAN The applications are The applications are
    and TAN is required to made directly to the made in forms 49A and
    be made separately for Income Tax Department 49B respectively with
    LLP through offline or and also processed by it Certificate of
    online mode. Incorporation as
    supporting proof.
    STEP 6- DRAFTING AND FILLING LLP AGREEMENT
    CONTENTS OF LLP
    1.Draft LLP Agreement 3. Then with signature by AGREEMENT
    carefully and based on the partners and attestation by
    • The name of LLP, name and
    partners’ requirements. the witnesses, the address of partners and
    agreement will be designated partners, business
    object, place of business and all
    executed
    2. Once the LLP other essential details of LLP will
    be placed in the Agreement
    Agreement is reviewed
    • Other clauses will be form of
    and agreed upon by the contribution and interest on
    partners, it will be contribution, profit sharing ratio,
    rights and duties of partners in
    executed by payment of case of admission, resignation,
    stamp duty retirement, cessation and
    expulsion, proposed business, and
    rules for governing the LLP.
    Thank you!

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