Register my LLP (Limited Liability Partnership)

How do I register my LLP and what will be the charges?

Hello @Shelly_Trivedi

In order to register an LLP on Ministry of Corporate Affairs, the first step is to reserve a name for the proposed LLP. In order to reserve name, RUN-LLP needs to be filled out on MCA along with 2 proposed names of the LLP and NoC, if any required by paying a fee of Rs. 200/-

Once the name has been approved by MCA, the name is valid for a period of 3 months within which e-Form FiLLiP needs to be filed along with documents as may be required, for incorporating the LLP. The fees of filing e-Form FiLLiP depends on the contribution of the LLP.

Hope this helps!

LLP incorporated feb 2019. We could not file compliance’s for year 2019-20 because form3 was not approved by MCA, now they have approved but filing for 2019-20 shows huge fees. What can be done?

Hey @AM_POWER

As per the Limited Liability Partnership Act, 2008, Financial Year is defined as under:

" financial year, in relation to a limited liability partnerships, means the period from the 1st day of April of a year to the 31st day of March of the following year:

Provided that in the case of a limited liability partnership incorporated after the 30th day of September of a year, the financial year may end on the 31st day of March of the year next following that year;"

Hence, an LLP incorporated in February, 2019 can opt for closing its books of accounts in March, 2021. Thus you don’t need to make the compliances for FY 2019-20, as the first financial year will be from February 2019, to March, 2021.

Hope this helps!

Thanks for your reply. I have a doubt, for a feb 2019 incorporation the March of next following year will be March, 2020 right? or does provision allow to go up to March 2021?

Regards.

Hey @AM_POWER

There was a typo in the previous post regarding the financial year.

However, you wont be able to take the benefit of Financial Year in your case so what you can do is raise a complaint on MCA and explain that Form-3 wasnt approved. Or you can contact your local ROC for this.

Hope this helps!

Thanks. Is there any way to know actual fees(not the estimated fee calculator on MCA website) charged to our specific LLP before we upload the forms so that we come to know wether they have by default lowered the fees because of delay on their part?

Regards.

Hey @AM_POWER

For Form-8 (Section 34) and Form-11 (Section 35) of the LLP Act, 2008, specifies that if any LLP fails to file its annual return before the expiry of the periods specified, such LLP and the Designated Partners shall be liable to pay a penalty of Rs. 100/- per day, subject to maximum Rs. 100,000/-

The above provisions are subject to any extensions that may have been provided by MCA for that financial year.

You can check out the LLP Act, 2008 here.

Hope this helps!

Thanks for your help.

Which form is required to add/ remove a Designated Partner?

Hi @Mohit_More

In order to add or remove Designated Partner of an LLP, e-Form - 4 needs to be filed within 30 days of such addition/ removal.

You can learn more about making changes in Designated Partners of LLP here

Hope this helps!

What is the due date of filing LLP Agreement?

Hello @Rachit_Awasthi1

LLP Agreement shall be filed in e-Form-3 within 30 days of incorporation.

Here’s an article that explains LLP Agreement in details

What are the advantages of LLP over a partnership firm?

Hey @Vicky_Singh

The major advantages of an LLP over a partnership firm is that an LLP has a separate legal existence than its owners and the liability of the partners of an LLP is limited which is not the case in a partnership firm.

You can read more about the process of converting an a partnership into an LLP here:

Hope this helps!

I had a query, how can I file Annual Return for LLP?

Hey @Nandana

Annual return of LLP is to be filed in e-Form 11. Fill in the details regarding LLP and Designated Partners like their contribution, etc. Details of LLP and or company in which Partner/Designated Partner are a Director/Partner is mandatory to attach with the form.

Hope this helps!

Hey Aishwarya,

I have a question regarding two things with LLP FORM 11

  1. I have recently incorporated my LLP on 07-11-2020, What should be the START OF FINANCIAL YEAR DATE in the 2. Option?
  2. What should be the mandatory Attachment to be attached with the Form 11, if the partners in the LLP DOES NOT have any other directorship or interest in any of the LLP or Company.

Hey @Ujvin_Nevatia

  1. As per LLP Act, Financial Year means the period starting 1st of April and ending 31st March of the following year. However, since your LLP has been incorporated after 1st April, your financial year will start from the date of incorporation, i.e., 07/11/2020.

  2. Details of Designated Partners is a mandatory attachment for Form-11 even if the Designated Partners are not Directors/ Designated Partners in any other entity. You can mention “NIL” in the field where you are supposed to mention the name of LLP/Company against the DPIN or each Designated Partner.

You can download the format of details of designated partners here

Hope this helps!

What is meaning of the field: Total contribution received by all the partners?
Is it the profit received from the firm or the capital contribution by the partners?