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  Posted on July 21, 2021

Post Incorporation Compliances For An LLP Company

LLP Limited Liability Partnership is a Best form of Company Registration, It’s Having less compliances as compared with another type of company Registrations. Although we need to take care of Compliances on time, else Penalty meter will rise.

With the successful incorporation of your valuable company, it is time to move ahead with the Post Incorporation steps for your business which will help your company stay compliant as per the norms laid by the Ministry of Corporate Affairs.

Post Incorporation Compliances For An LLP Company

1. LLP Agreement:

Immediately after incorporation of the LLP, the Partners of a Limited Liability Partnership are required to execute an LLP Agreement and a copy has to be filed with the Registrar or Companies in LLP Form 3 with in 30 days of incorporation.

2. Application for Permanent Account Number (PAN):

Every LLP Company has to obtain a Permanent Account Number (PAN) from Income tax department, Government of India.

3. Application for Tax Deduction and Collection Account Number (TAN):

Every LLP has to obtain a Tax Deduction and Collection Account Number (TAN) from Income tax department, Government of India.

4. Opening Bank Account in LLP Name

It is necessary to open a Current Account in the name of the LLP with any Bank of India.

5. MSME/SSI Registration

MSME registration is the procedure to get your LLP registered under MSME development Act for SME benefits.

5. Books and Accounts of LLP

The LLP has to prepare and keep the Books of Accounts of all receipts payments and to comply legal requirements under Companies Act and other various laws.

6. Shop and Establishment Registration

Every Business Establishments are required to obtain Shop and Establishment Registration under respective State Shop and Establishment Act and Rules within 30 days of registration

7. Professional  Tax Registration – Employer & Employee

Every Company is required to obtain Professional Tax – Employer Registration(Enrolment Certificate within 30 days of incorporation).

8. Infusion of Initial Capital by Subscribers to Memorandum

The subscribers to the Memorandum of Company has to bring the amount of subscribed capital as stated in the Memorandum of Association at the time of company registration within 60 days of incorporation

9. Appointment of Auditors

Every LLP whose capital contribution exceeds Rs.25 lakhs or annual turnover exceeds Rs.40 lakhs has to get the accounts audited by a Chartered Account in Practice

10. GST Registration

Every business with annual turnover exceeds Rs.40 lakhs (Service providers 20 lakhs) is required to GST Registration under Goods and Services Tax(GST) Act and Rules.

[You may like to Check: www gst gov in GST Portal Login Guide]

11. Trademark Registration

Ultimate protection for a company name is secured only by way of a Trademark.

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You may also want to read Post Incorporation Compliances For Private Limited Company

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