Limited Liability Partnership (LLP) Firm Registration: Benefits, Process, and Requirements | Legal Man
A Limited Liability Partnership (LLP) combines the advantages of both a company and a partnership, making it a popular choice for entrepreneurs. Here's a detailed overview of Limited Liability Partnership (LLP) Firm Registration in India:
What is LLP?
An LLP is a hybrid entity that offers the benefits of a partnership while limiting the partners' liabilities. It was introduced in India by the Limited Liability Partnership Act, 2008. Unlike traditional partnerships, LLPs protect partners from personal liability beyond their investment, making them a safer option for business owners.
Benefits of LLP
LLPs have numerous benefits, which make them a preferred choice for professionals and businesses:
Limited Liability: One of the main advantages is that the partners’ liability is limited to their capital contribution. This means that the personal assets of the partners are protected in case of losses or business debts.
Separate Legal Entity: An LLP is treated as a separate legal entity, independent of its partners. This allows the LLP to own assets, enter into contracts, and sue or be sued in its own name.
No Maximum Limit on Partners: While a traditional partnership can have a maximum of 20 partners, an LLP can have an unlimited number of partners.
No Minimum Capital Requirement: Unlike companies, there is no minimum capital required to form an LLP. This feature is attractive for startups or small businesses.
Less Compliance and Regulations: LLPs have fewer regulatory compliance requirements compared to private limited companies. For instance, they don't require annual audits unless their turnover exceeds a certain limit.
Tax Benefits: Limited Liability Partnership (LLP) Firm Registration enjoy tax advantages such as avoiding Dividend Distribution Tax (DDT), which applies to companies. Profits distributed among partners are tax-free after they pay the income tax.
Easy Transfer of Ownership: Transfer of ownership or changes in partners is simpler in an LLP as compared to a traditional partnership or company.
Steps for LLP Registration
Obtain Digital Signature Certificate (DSC): Since the registration process is online, all the designated partners of the LLP need to obtain a Digital Signature Certificate (DSC). The DSC is used to sign electronic documents.
Apply for Director Identification Number (DIN): Each designated partner of the LLP must have a Director Identification Number (DIN), which can be obtained from the Ministry of Corporate Affairs (MCA).
Name Reservation: An LLP must reserve its name through the RUN-LLP (Reserve Unique Name - Limited Liability Partnership) service provided by the MCA. It’s advisable to check name availability before submission to avoid rejections.
Filing of Incorporation Form: After the name is approved, the Form for Incorporation of LLP (FiLLiP) must be submitted. This form contains details about the LLP’s partners, registered office, and other necessary documents.
LLP Agreement: An LLP agreement defines the rights and duties of the partners and the firm. It must be filed within 30 days of LLP incorporation and can be amended as required.
Documents Required for LLP Registration
Partners’ Documents:
PAN Card of all partners (mandatory)
Address proof (Passport, Voter ID, Driver's License)
Residence proof (Bank statement, electricity bill, telephone bill)
Registered Office Documents:
Address proof of the registered office
NOC from the landlord if the office is rented
LLP Agreement: Drafting the LLP Agreement is essential, and it should include details like profit-sharing ratio, responsibilities, and roles of partners.
post-Registration Compliance
Once the Limited Liability Partnership (LLP) Firm Registration done, it is subject to annual compliance requirements such as:
Filing Annual Returns: Form 11, which contains the details of partners, must be filed annually.
Statement of Accounts & Solvency: LLPs must maintain proper financial records and file Form 8 annually, which declares solvency and financial status.
Income Tax Filing: LLPs are required to file their Income Tax Return by the prescribed date, based on their turnover and audit requirements.
Who Should Register an LLP?
LLP is ideal for:
Professionals like CA, CS, doctors, or architects who want to form a firm.
Entrepreneurs and startups looking for a flexible yet protected business structure.
Businesses that plan to scale but want to avoid the compliance burden of private limited companies.
Service providers who operate with multiple partners and wish to safeguard their personal assets.
Conclusion
The LLP structure is gaining popularity due to its flexibility, low compliance burden, and limited liability protection. It’s a smart choice for small businesses, startups, and professionals. With minimal capital requirements, tax advantages, and simplified legal formalities, Limited Liability Partnership (LLP) Firm Registration has become a preferred option for many entrepreneurs in India.For more details, refer to Legal Man.
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2014 Haylor Timeline
Timeline Tag, or years, back to 2013.
1 January - Taylor wrote say don’t go
2 - 4 January - Harry and Kendall Skiing with Jeff and his GF
6 January Lover Journal January 6, 2014, LA: Taylor decides to move to NY “dating is awful”. Reports KUWK producers wanted to film Harry and Kendall and Harry said no.
16 January - Harry seen at pool, then eagles concert in LA on 17th Harry puts his arm around Kendall at Eagles Concert. Kathy Griffiths said he was wasted, said that Tom hanks joked about wanting to drive Harry rehab and that he didn’t stay with Kendall inside. 18th Jarry at sundance festival
19 January - Harry covered "things I can't" with bible and Silver Spoon tattoo's. 20th in LA
21 January - I know places written, then Welcome to NY, you are in Love. Ryan Tedder said Harry was in the Studio then also.
25 January - Lover Journal: January 25, 2014, LA - after Clive Davis Grammy party at night that she never felt better about their chances of winning a Grammy. Rumour Harry seen with Kendall.
26 January - Red doesn't win Grammy, Taylor decides to make 1989 sonically cohesive
2 February - Harry’s 20th birthday, he told stern in 2022 that when he was 20 he felt like every decision in his adult life had been made as a democracy till that point and felt he should make decisions. Daily Mail he spent birthday with Kendall Jenner, his cousin said he is always the dumpee.
9 February - Clean written
11 February - Taylor gets haircut, Harry seen backstage, she then writes Shake it off. He writes Stockholm Syndrome
14 February - Taylor posted "there's nothing like real love"
15, 17, 18th - Harry seen in London
18 February - Kendall at London Fashion Week, Harry goes to Cara's show not hers, in the BUA the next week "Harry purposely didn’t go to the Topshop show or have his planned party so people wouldn’t speculate about him and Kendall,”
19 February -Taylor writes Style in LA. Harry later to collect Brit because he was in bathroom. Rumour he was smoking with Nick G, Harry left after party with his mum, Zayn and Louis not there.
20 February - Harry arrives in LA in afternoon.
21 February - Harry at Sushi Dream with his mum and Robin, later dinner with Jeff, may be the date Charlie Puth tweeted about him.
22 February - Lover Journal February 22, 2014, LA, Been in the studio with Max, Shake it off, has been in Conway Studios all week. Taylor walks on beach with Lorde. Ariana Grande also recording album with JALBOYH in Conway Studios, Max Martin working on both records. Harry MIA in day, then at same Miley concert, Kendall goes separately. Harry and Kendall BUA, work commitments
24 February Harry got anatomical heart tattoo (a real heart for a real love) HSA Publishing Limited (UK company) (private limited company) this is harry’s publishing company was incorporated in February 25, 2014 and is the publisher of JALBOYH
25 February - Article about Harry having written with John Legend and on 20 songs away from the band, says he had worked with Alex & Sierra
1 March - Both at Oscars party. Karlie Kloss flies from Paris to LA.
2 March - Harry seen in LA, then disappeared for 10 days, then LA again. 1D on break.
3 March - Taylor at vanity fair party
4 March - Alex & Sierra posts photo of Meredith in Taylor’s LA home. Harry wrote I love you for them and this was like meeting him about that, Taylor later confirmed she heard it. Harry seen Culver city
5 March - Harry tweets ‘hands on the wheel’ when Taylor posted the photos from the weekend starting with a photo with Ed and others at vanity fair “this weekend was like..” and including a road trip to big sur with Karlie. Karlie has posted daily till she arrived in LA then started again when Taylor posted her photos. Who took the photos? A tumblr user assumed they stayed at Deetjen's Big Sur Inn resort because someone who took a photo in the same place did, maybe, the hotel is 4 star.
7 March - Taylor publicist Paula Erickson resigns, she provided 60 day notice but announced 2 weeks before took affect. Release said taking PR in-house. This reddit post has good analysis suggesting the split may have been because of the rise of Taylor’s image as a serial dater. There was a page six article that may have come from the publicist that Taylor’s parents were hard to work with.
12, 13 March - Harry had dinner alone in LA, Kendall on date with someone else down the street. Harry’s motorbike broke down, he looked sad, guy who came to help mad. 15 March LA
18 March - Harry back in London
19 March - Liam and Harry take fan who won competition out to dinner at Sanctum Soho Hotel London
24 March - Lover Journal: March 24, 2014, New York; Moved to Tribeca, never felt more busy. One Direction filmed You and I music video at Clevedon Pier Somerset
25 March - Harry The Ace Hotel Shoreditch with Ed and Lou Teasdale for a book launch. 1D tour rehearsals
27 March - 1D Where we are tour rehearsals London. (27 & 28) 1D Camden London recording. MH plays call or delete with Nick Grimshaw and calls Niall and Harry, he says he has Niall’s number because he is writing a song for one direction and that he had never spoken to Harry before (but had his number and Harry recognised his voice.) MH asks to borrow £5k and Harry agrees. Harry probably knew he was on Nick Grimshaw. Harry and Niall seen in rehearsals in England.
2, 3 April - Harry London
17, 22, 23 April - Harry seen in LA
8 April - page six article maybe put out by Taylor’s resigned publicist that says Taylor’s parents are difficult to work with and says her business manager also resigned.
22 April - HS in LA at Sharks game with Jeff
25 April - 5 October - 1D Where we are Tour. South American dates till 11 May.
26 April - Harry Fern Tattoos, healed, covering "Might as well..."
29 April - Matty Healy's mum says MH is writing a song for 1D
4 May - Taylor attends met gala and later features this dress of ‘old Taylor’ in LAYMMD, marked start of 1989. 1D in Argentina.
7 May - One direction bread van to Christ the redeemer in TV special. Earlier Harry drunk at the hotel pool, floated his hat in the sea and Brazil! Tattoo. 1D sue over condoms using their name, MTV says it means fans will “never ever sleep with Harry Styles”
8 May - One Direction record Change your ticket in Fasano Hotel, (2:12) Rio De Janeiro. The TV Special shows Niall working out the lyrics and Harry recording WDBHG (2:25) also, though the hotel is not credited for WDBHG. In 2016 Matty Healy messily said he had been asked for a song for Four which wasn't used and felt Change Your Ticket was similar to guitars on the 1975 Girls. 1975 or MH never pursued it other than the shade. MH said to Capital FM he heard change your ticket before it came out and asked to take guitars off he didn’t write on it.
11 May - 1D tour break till 23 May, working on Four.
17 May - Taylor on tour break in NYC, working on 1989. Taylor seen most days in NYC in May.
17 & 20 May - Harry seen LA
24 May - One Direction (headliner) and Ed Sheeran play Radio 1 Big weekend in Glasgow. Ed wrote 18 this week. Liam said they had a show in another country the night before and that night. Taylor leaves NYC not seen for 6 days until Japan 31 May. 23 May - 13 July Europe 1D dates.
26 - 28 May - One Direction break, Taylor MIA. Harry in London and plays celebrity football game on 26th. After scoring a penalty shot Harry hugged Niall then kissed his heart tattoo.
27 May - footage of Zayn and Louis smoking weed in a car leaked, filmed in April. Harry quoted in media being annoyed they let it be filmed. Ed Sheeran live on Britans got talent, Simon Cowell asked for a 1D song, Ed declined then wrote 18 the next day.
30 May - Lover Journal: May 30, 2014, Shanghai 1989 cover art. 2 June - Tokyo, then asian dates till 12 June. Taylor arrives at a commercial airport with so many fans it’s talked about 10 years later… and held up as why she flies private when she had owned a jet for years… Harry Manchester show.
31 May - Tree Paine starts as Taylor’s publicist.
7 June - rumour Harry was getting dual citizenship
8 June - 1D had 5 day break starting in London then Stockholm on the 13th. Heart kiss in You and I
11 June - Harry sent a fan a video for her wedding “"You don't have to go through with this, you know all men cheat these days and it usually happens pretty fast. It’s not too late, I’m going to be waiting at Orli’s in Borehamwood for the next three hours. If you don’t come I’ll understand but that’s where I’ll be.”
12 June - Red Tour ends in Singapore, then seen most days in NYC till the 20th.
18 June - Taylor adopted Olivia Bensen, model Steph Smith with her, Steph posts to instagram and follows both Harry and Taylor that day. Harry can be heard laughing in this video. Harry not seen, but in Copenhagen the day before and day after in London
19 June - Harry in London dressed the same as in the Four booklet
20 June - Taylor seen in NYC then not again for 10 days till 30th. 1D Paris
2 July - Ariana Grande talks about Harry writing JALBOYH. She says it's a beautiful song he's an amazing songwriter.
4 July - Taylor squad party at RI. 1D had a show in Switzerland.
13 July - Taylor water gun patrol at High Watch RI. Last time she is papped there for 10 years.
17 July - Harry and Paige at same GQ party.
20 July - Harry at Anne and Robins wedding UK
31 July - Harry in LA, not seen on 28th. Taylor NYC
March - September - Harry wrote for Four: stockholm, Where do broken hearts go, I love you (Alex and Sierra) & Little bit of your heart.
1 August - 5 October - 1D US/Canada dates.
2 August - Taylor played 1989 for Harry. Harry followed Jack Antonoff on Twitter the next day. 2 November Harry said he spent a week in the US and then played daytime TV for the rest of break.
14 August - Taylor wore black and white rose dress on Tonight show with jimmy Fallon, prompting rumors 1989 will be called Roses
18 and 20 August - 18th seen with fans in US, Harry MIA on 20th
19 August - Shake it off released, 1989's lead single with Hella Good Hair line.
24 August - 1D show in Dallas where a fan has a “Harry you have hella good hair”’poster Harry grins at. Harry comes back (he first sees it at 1:03) to point, thumbs up and again smile at the sign.
23 and 25 August - Harry in Nashville. JALBOYH released.
26 August - 1D in LA for Ellen, then Chicago then disappeared
20 - 25 August - Taylor in LA, MIA till 3 September
30 August - Heart Kiss you and I
31 August - 9 September - Harry MIA, only seen LAX 5 September then appears in London on 9th.
3 September - Ariana says she nearly refused to record JALBOYH
When asked whether she felt pressure recording a song written by Harry, Ariana said, "No, I was more intimidated because he recorded a demo for me so I could learn the song. I was like, "I don't know if I wanna touch this song.'" She has previously said ""I remember when I heard it I was like 'Wow that's a really strong verse, that's really beautiful' and then the [pre-chorus], I was like 'wow that's a really beautiful pre, that's a really strong pre!' and then the chorus I was like crying!"
3 September - Taylor arrives in London wearing the New York sweater she wears in the Reputation Magazine polaroid for Dancing with our Hands Tied. The Rep photo looks to be taken in her London rental she had in 2017, it's unclear when it was rented.
3 - 14 September - Taylor seen in London till 7th, then MIA till NYC on 14th (i.e. both go from LA to London and MIA for a week) Niall said they had 10 days off and didn’t see each other.
8 September - Taylors 1989 Rolling Stone Interview where she said it was infatuation, RS said she sounded jaded.
11 September - Rolling Stone things you learn hanging out with Taylor Swift included:
"“I think the way I used to approach relationships was very idealistic,” she says. “I used to go into them thinking, ‘Maybe this is the one — we’ll get married and have a family, this could be forever.’ Whereas now I go in thinking, ‘How long do we have on the clock — before something comes along and puts a wrench in it, or your publicist calls and says this isn’t a good idea?'”
13 September - One Direction - Rose Bowl Los Angeles, during You and I on “did they ever hold each other tight like us?” Harry kissed the heart then had chest pains later in the show. He ends the show visibly unwell.
14 September - Four written with Fools Gold. First day Taylor seen (NYC) in a week, last seen London. 18 September Niall mentioned a 10 day break and again said the band didn’t see each other on break.
19 and 20 September - both play the iHeartRadio festival, on the 19th Taylor played WANGB, IKYWT, Love Story with a speech about Romeo & Juliet and a lot of pointing 22 and Shake it off. and 1D on the 20th, Harry kissed the heart tattoo in Little Things.
Late September Harry had US shows, he kissed his heart tattoo un Better than words (4:23) and was in a great mood. Taylor wasn't seen until NY the day of that show. Harry’s instagram goes b&w between 24 September and 23 October. Out of the woods released 14 October, may refer to screaming colour lyric? Taylor posted about screaming colour. Also over 28 sept anniversary
4 October - Lou Teasdale shares photo of Harry’s braids
6-11 October - Taylor in Paris and london
8 October - Harry pumpkin picking with Erin Foster. E news “It's unlikely it will ever become serious, but they are casually dating whenever they are in the same place at the same time and it works for both of them. Meanwhile, their outing was PDA-free and didn't seem to hint that any sort of romance was brewing.”
10 October - Taylor performed Riptide performance on BBC 1 with the lyric "I love you when you're singing that song / And I got a lump in my throat / 'Cause you're gonna sing the words wrong"
12 October - Harry threw up on side of the road in LA and sign put up. He had been at lily Allen’s party the night before. Press included quotes from Ed that Harry didn’t drink in the US
24 October - Taylor MTV You are in Love is about Jack and Lena, who didn't know and her body language is guarded. Recorded this date.
27 October - 1989 released, Taylor NY. 1D Film Night Changes MV
1 November - Harry wore the Saint Laurent coat in November - December 2014. In 2016, He choose it, now with a lipstick stain, as one of '12 prized possessions', “I was leaving breakfast in London wearing this coat. I thought the girl was biting me. She was lovely.”
4 November - Taylor pulls her entire discography off Spotify over period that artists would not earn royalties. Harry said a month ago at an Airport a reporter said "Do you have any Nudes on the cloud?!" I said "yeah, loads."
5 November - Taylor Posts a video of herself lip syncing to Kendrick Lamars Backseat Freestyle
8 November - Taylor liked a tumblr post of Matty Healy wearing a 1989 t-Shirt on stage.
10 November - Taylor wore the Butterfly and Reputation Snake Ring in the Blank Space Music video.
13 November - Harry's mermaid tattoo. “I am a mermaid”
14 November - sad guardian 1D interview
15 November - Taylor in NY, Harry records Band Aid in London. Throughout November and December Louis and Liam seem annoyed with Harry and talk over him. Many consider this the point Harry told the band he would not renew his contract, the band tensions were high from this point. See One Direction break up deep dive on Reddit.
17 November - One Direction releases Four. Perform Today show in Orlando live, Zayn missing. Filmed Four TV special. Released the Four Hangout where Harry describes the Stockholm Syndrome muse (TS) a Nympho and talks about writing from personal experience. At 31 mins Niall says WDBHG is his favourite 1D song, Harry says thank you and Niall hugs him. Harry agrees, then says best song ever then gotta be you One Direction song which (in the background) Harry adds "well done Tyler." Niall adds "your boyfriend’s back." (The boys had rhyming nicknames for each other, Tyler Swift was Taylor’s name in The Man) Change your ticket announced as bonus track on ultimate edition.
19 November - Harry and Taylor go to a 1975 concert together, ET reported they went back stage together. Change your ticket (which MH claimed was too similar to Girls after 1D did not use a song MH submitted for Four. Us weekly reports Haylor talking again.
23 November - Harry looks in Taylors direction while performing, she points at him in her performance and he makes heart eyes/whistles at Taylors AMA’s speech. Harry stayed in LA an extra day to go to Taylor's mini post-AMAs part while 1D went to Australia. (Canyon Moon vibes).
30 November - Taylor arrives London
1 December - Harry, Kendall and Cara at British Fashion Awards in London, the day of that photo of him at top of stairs.
2 December- Taylor performs Style at VS show and completely slays. Harry joins them at the VS after party and leave 5 mins apart. (So it Goes, pick you up, leak vibes) Taylor posted photos with Ariana also, JALBOYH was still charting. Taylor wears a similar outfit in the I don’t wanna live forever video with Zayn. This was also the first time Style was played live!
4 December - Taylor returns to NY
5 December - rumours Taylor at 1975 concert
Early December- Harry follows Xander Ritz on Instagram. Xander is a lacrosse player who is close friends with Harry and seen a lot in late 2015 and 2017/2018, there are ships of them. Xander is now married to Jacquelyn. Harry is still seen with his brother Maxwell. Max and Xander co-own the Loyalist in Brooklyn. The loyalist is a high end brand integration company. Like Taylor, Xander is from Philadelphia and his family is still there. He was seen with Jeff a lot and rumoured Jeff introduced them.
6 December - Taylor has laryngitis at Jingle Bell Ball. Matty Healy has a meltdown on stage, crying, lying down and is eventually dragged off stage. In 2015 he said this was about girl stuff, drug stuff, financial stuff. In 2016 is said "“Yeah. Absolutely. And the reason I mention that is because if I had gone out with Taylor Swift I would’ve been, ‘F***ing hell! I am NOT being Taylor Swift’s boyfriend.’ You know, ‘F***. THAT.’ That’s also a man thing, a demasculinizing, emasculating thing.”
8 December - Blind "The B- list celebrity offspring of two of the worst celebrity parents ever has been hooking up the past few weeks with the lead singer of the band that Taylor Swift loves. Apparently they sent Taylor a pic of themselves naked in bed together." (Ali Lohan (Dina and Michael)/Matty Healy “The 1975″)
9 December - one direction RTL episode where the band is angry at Harry, especially this section, where Liam seems drunk and talks about new experiences (shading Harry for saying he won’t continue 1D maybe) later in the interview says “we should have written a song about beards” and Louis said “or hair in general” and with a mocking look to Harry “har, har”, (possibly shading Harry for Matty Healy's meltdown the night before.) This was followed by a lot of interviews with Liam and Louis reacting to Harry like this and some they gave separate interviews.
12 December - Taylor performs the Z100 Jingle Bell Ball, with IKYWT over midnight to her birthday and during Shake it Off she gives a breathless sounding 'it's my birthday' she points to the left of the stage to say guy with the hella good hair. Harry was in Spain for Los40 Spain. Rob Sheffield writes a piece about just Harry (not band) in Rolling Stone which is positively glowing.
13 December - Taylor has a party in her apartment. Harry is in France for the NRG Awards. Tweets asking the media to stop having her date her friends (MH & KK)
15 December - one direction performs WDBHG with Ronnie Wood on xfactor UK final
19 December - Harry at the Bowery Hotel again, wears the Another Man 12 Prized Possessions coat that later has lipstick
22 December - Harry in Central Park, wearing Saint Laurent coat
21 December - Harry seen with Nadine Leopold and wears her jacket and carrying her bags. Sun reports things “heating up” with happy photos. The same night there are photos of Harry pointing and yelling angrily at 2am in the east village in the jacket with bags.
24 December - Tabloid media about Ali Lohan/MH
26 December - Taylor wears opal ring thought to be from Harry.
30 december- Taylor morning show and says about Style “This song is about a relationship that is never really done. you always have that person who you feel like might interrupt your wedding and say ‘don’t do it because we’re not over!” I compared it to person comes in and out and never really go out of style with a smile. Asked if the person sings she says she wants fans to picture their ex-BF not hers.
Continue to 2015
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