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            "description": "LLP Company Registration in Jaipur\nLLP Registration in Jaipur stands for limited liability partnership registration which is registered under the Ministry of Corporate Affairs (MCA) and the beneficial part under LLP registration is that the liability of the partners is limited which is not in the normal partnership firms registered under partnership act. Under LLP registration, the registered LLP company will govern as per the rules and regulations of the Limited Liability Act, 2008. Professionals firms like Chartered Accountants, Company Secretaries, Advocates, recruiting firms, and consulting businesses go for LLP registration for partnerships.\n\nCHECKLIST FOR LLP\nMinimum Requirements for LLP\n \n• Minimum 2 Designated Partners\n• DIN has to be obtained by both the Partners.\n• At least one of the Designated Partners shall be a resident.\nFollowing are The Documents Required\nS.No.\nParticulars\nDocuments Required\n1.\nDIN\nPan Card\nCurrent Address Proof\n2 Passport size photographs\n \n2.\nProposed Names\nAt least Six Names for the proposed LLP\n3.\nRegistered office address\nAddress Proof\nUtility Bill not older than one month\nNOC with Rent agreement if premises is rented\n4.\nCapital Contribution\nThe breakup of the Capital Contribution is required\n5.\nProfit-Sharing Ratio\nProfit-Sharing ratio of the partners shall be specified\n6.\nConsent Letter\nConsent letters are duly signed by both the partners (format to be provided by us)\n7.\nSubscription  Sheet\nDuly signed by the members of the company (format shall be provided by us)\n8.\nLLP Agreement\nDetails of any specific clauses to be inserted in respect of rights/duties of the partners.  A draft LLP Agreement shall be provided by us.\n\n \nBenefits For LLP in Jaipur\nLimited Liability\nThe first and foremost benefit of trading/doing business via LLP is the limited liability conferred upon the partners. As a sole trader or partnership business, the personal assets of the proprietor or partners can be at risk in the event of a failure of the business, but this is not the case for an LLP. Unfortunate events like business failures are not always under an entrepreneur's control; hence it is pivotal to secure the personal assets of the businessman in the event of a crisis.\n \nNo Limit on Owners of Business\nAn LLP requires a minimum of 2 partners while there is no limit on the maximum no. of members: this is in contrast to a private limited company wherein there is a restriction of not having more than 200 members.\nLower Registration Cost\nThe cost of registering LLP is low as compared to the cost of incorporating a private limited company or public limited company\nNo Audit Requirements\nNo, Only the Limited Liability Partnership whose contribution exceeds Rs. 25 Lakh or the Limited Liability Partnership whose turnover exceeds Rs. 40 Lakh are required to annually get their accounts audited by any Chartered Accountant in practice.\nTaxation Aspects of LLP\nLLP is taxed like general partnership firms. Thus, no dividend distribution tax is payable. Provision of “deemed dividend” under income tax laws does not apply to LLP. Section 40 (b): Interest to partners, any payment of salary, bonus, or remuneration shall be allowed as a deduction.\nDividend Distribution Tax (DDT) is not applicable\nIn the case of a company if the owners withdraw profits from the company, additional tax liability in the form of DDT @ 15% (plus surcharge and cess) is payable by the company.\nhttps://www.legalwindow.in/limited-liability-partnership-llp/",
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