LLP REGISTRATION in Kolkata

Limited Liability Partnership in Kolkata

Limited Liability Partnership in Kolkata is a separate legal entity which has the benefits of “Limited Liability”. It is governed and registered under the Limited Liability Partnership Act, 2008 (notified on 31st March 2008) and the rules made there under. Small and Medium Enterprises (SMEs) can also function as LLP. LLP is suitable for service sector especially for the professionals like Company Secretaries Chartered Accountants, Lawyers, Cost Accountants, etc.

The whole idea of a Limited Liability Partnership in Kolkata is very common. This specific partnership pinpoints the fact that partners in a partnership may have limited liabilities. Importantly, under LLP one partner is not responsible or liable for another partner's misconduct or in any negligence. One can definitely say the idea of LLP is similar to that of stakeholders in a corporation. Interestingly, LLP is different from the idea of limited partnership. No doubt, LLP is a much-advanced concept in the domain of business and considered to be a far better aspect that limited partnership.

Need for LLP Registration in Kolkata

Limited Liability Partnership is a newly introduced concept for medium and small sized businesses. It provides many of the benefits of a Private Limited Company. There is a low registration fee and easy to maintain LLP. Its procedure of formation is very much similar to the procedure of a Private Limited Company. Registration is what vests such personality upon the legal entity. It is done by the registrar of the Company.

Reasons and benefits of LLP registration in Kolkata

1. A LLP is a legal entity and a juristic person. A partner has no liability to the creditors of a LLP for the debts.
2. A LLP has a perpetual succession that has a continued existence until it is legally dissolved.
3. LLP doesn’t require any audits if it has less than 40 lakhs of turnover and 25 lakhs of capital contribution. LLPs are good for small businesses and start-ups that have minimal regulatory compliance.
4. The ownership can easily be transferred to another person by including them as a partner.
5. An LLP being an artificial person can acquire, own and sell property in its own name.

Process for LLP registration in Kolkata

Follow the steps in order to register a Limited Liability Partnership in Kolkata:

1. Acquire DPIN, Acquire DSC - DPIN stands for Designated Partner Identification Number. For obtaining DPIN for the partners, DSC–Digital Signature Certificate is required. After obtaining the DSC of the proposed partner, the next step is acquiring the DPIN.
2. Register DPIN, DSC with LLP - After obtaining the DPIN and DSC, it needs to be registered immediately. This embarks the registration of the proposed LLP.
3. Check Name Availability - Deciding on an appropriate name for the business plays a crucial part in the formation of LLP. So, an application for reservation of name is to be submitted to the Ministry of Corporate Affairs. Further, the application shall be scrutinized by the Registrar of Companies (ROC). Once the name selected is available then such application is approved. In case such name is registered by any other firm then selection of another name is to be made and submitted within a stipulated time of 60 days of notice of the rejection of name.
4. Download LLP Forms -After the approval of the name and all the necessary verification, one can download the LLP forms online. The form needs to be duly filled along with the submission of relevant documents including PAN Card/ID Proof of the Partners, Address proof of the registered office of the LLP & its partners etc.
5. File electronically -The actual providing of information and submission of documents takes place during filing for incorporation. The partners need to submit such information and documents within the prescribed time limit.
6. Track Status - It takes time to process the application due to a number of application requests with the ROC. So, one need to be patient enough to get their application processed. For this purpose, applicants are provided with the facility to track the status of their application online.
7. Receipt of Certificate - Once the application is accepted, the Registrar issues the Certificate of Incorporation. After such issue, the LLP shall be considered to be registered.

You can reach Company Vakil for for LLP registration in India, we will handle the entire process for you while you read some interesting fact about the city

Interesting fact about how Kolkata might have got its name  According to the Hindu mythology, there are 51 Shakti Peethas of Goddess Sati (or Shakti) which were created when Sati’s corpse was cut into numerous pieces by Vishnu and these pieces spread throughout the subcontinent in the form of temples of the Goddess. Kolkata is one of those auspicious places for Durga’s devotees, where the holiest of holy temple, the Kaligaht temple is situated. Devi Kalika or Kali in this temple is one of the Shakti Peethas. It is believed that Sati’s right toe fell here. The Kalbhairav here is known as Nakulesh. It is also said that the name of the city Kolkata is derived from this Kalighat Temple.