LLP Registration India

Limited Liability Partnership

LLP - limited liability partnership is one of the highly recommended forms of corporate in which every partner enters the company with limited liability where the profit and loss and other liabilities have been shared as per the ratio of amount that they have invested while joining the LLP. It is one of the most successful corporate forms that have showed a huge success in short span of time.

LLP registration in India has taken place under LLP act 2008. It is quite distinct from those of limited partnership firms as under LLP one partner is not held responsible for another partner's negligence whereas under the Partnership Act 1890 there is joint liability.

Limited Liability Partnership Registration Process and Services

LLP rules and guidelines usually vary as you proceed from one country to another. Every country has separate criteria in respect of limited liability partnership registration process and services.

Here; in India: The Limited Liability Partnership Act 2008 had got listed in the official Gazette of India on January 9, 2009 whereas effected from 31 March 2009. Thus, it is necessary to review and understand the exhaustive list of rules and regulations of LLP incorporation or formation in the respective countries where you are required to form your limited liability partnership firm.

There are few perquisites while forming a limited liability partnership such as:

·         There should be not less than 2 partners to form LLP as per LLP act 2008 India.

·         There should at least 2 designated partners where these partners should be individuals and one of them must be resident of India and have Designated Partner Identification Number assigned by the Ministry of Corporate Affairs.

·         Designated partners required to obtain digital signature certificate number that is DPIN on filing an application under e-Form 7 before applying for LLP registration in India.

·         Before filing an application; a LLP name should be decided and approved from the desired associated authority. Be sure name must be in compliance with guidelines of LLP and Ministry of Corporate Affairs. An application for approval shall be filed in E-Form 1 to the registrar of company.

·         An agreement should be formed and duly signed by all the partners before filing an application in India.

·         Finally, an application for LLP registration in India should be made in E-Form 2 to the registrar office of LLP. Where all information about LLP require to mention in respect of ID Proof of partners, full name and addresses, about agreement and lots more as per specified guidelines. Know more about: international transfer pricing

Here, we are glad to introduce you with best legal firm in India where you can call at 011-43520194 or mail at info@carajput.com  to obtain registration or incorporation of LLP.

NGO OR SOCIETY & 80G REGISTRATION

There is Two type of Society and NGO's in India - State label and All India label. Before registering the NGO or Society you should know about the difference between both of them

• STATE LABEL : To register the Society or NGO at State Label. You will have to provide the ID proof of Seven Member's (DL | Copy of Passport | Voter ID). You will have to provide Two Members (President - Treasurer or Secretary - Treasurer) form Delhi and another Five Member's can be from any states. Two set of MOA of NGO or Society.

• ALL INDIA LABEL : To register the Society or NGO at all India Label. You will have to provide the ID proof of Nine Member's (DL | Copy of Passport | Voter ID). You will have to provide Two Members (President - Treasurer or Secretary - Treasurer) form Delhi and another Seven Member's from Seven different states. Two set of MOA of NGO or Society.

80G - INCOME TAX EXEMPTION: NGO can avail income tax exemption by getting itself registered and complying with certain other formalities, but such registration does not provide any benefit to the persons making donations. The Income Tax Act has certain provisions which offer tax benefits to the "donors". All NGO's should avail the advantage of these provisions to attract potential donors. Section 80G is one of such sections. 

1. REGISTRATION UNDER 80G :If an NGO gets itself registered under section 80G then the person or the organisation making a donation to the NGO will get a deduction of 50% from his/its taxable income. The NGO has to apply in Form No. 10G As per Annexure - 29 to the Commissioner of Income Tax for such registration. Normally this approval is granted for 2-3 years.  
2. CONDITIONS TO APPLY TO 80G:The NGO should not have any income which are not exempted, such as business income. If, the NGO has business income then it should maintain separate books of accounts and should not divert donations received for the purpose of such business.  The bylaws or objectives of the NGOs should not contain any provision for spending the income or assets of the NGO for purposes other than charitable.  The NGO is not working for the benefit of particular religious community or caste.
   The NGO maintains regular accounts of its receipts & expenditures.
   The NGO is properly registered under the Societies Registration Act 1860 or under any law corresponding to that act or is registered under section 25 of the Companies Act 1956.
3. DOCUMENTS REQUIRE TO FILED 80G :The application form should be sent in triplicate to the Commissioner of Income Tax along with the following documents : 

• Copy of income tax registration certificate. 
•  Detail of activities since its inception or last three years whichever is less  
• Copies of audited accounts of the institution/NGO since its inception or last 3 years whichever  is less. Know more about : international transfer pricing