Limited Liability Partnership — corporate protection with low compliance cost
Register a Limited Liability Partnership under the LLP Act 2008. Combines the flexibility of a partnership with limited liability protection and no mandatory statutory audit below ₹40 lakh turnover.
LLPs are governed by the Limited Liability Partnership Act 2008 and are popular among CA firms, law firms, consulting practices, and tech startups that do not need equity investors. Unlike a Pvt Ltd, an LLP has no requirement for board meetings, a company secretary, or statutory audit below ₹40 lakh turnover — making ongoing compliance significantly cheaper.
Professional services firms (consultants, architects, lawyers, CAs), bootstrapped tech startups, and import-export businesses that want the protection of a corporate shell without the compliance cost of a Pvt Ltd. Also suitable for joint ventures between companies.
⚠️ Penalty for Non-Compliance
LLPs must file Form 11 (Annual Return) by 30 May and Form 8 (Statement of Accounts) by 30 October every year. Failure attracts a penalty of ₹100 per day per form with no upper cap. An LLP that fails to file for three consecutive years can be struck off by the ROC.
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Valid for: Perpetual (as long as annual compliances and statement of accounts are filed)
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LLP Registration
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