LLP Registration in Pune

What is LLP Registration?

LLP company registration in Pune is the process of legally forming an LLP, a unique business structure that combines the benefits of both partnerships and corporations. LLPs provide limited liability protection to their partners, meaning that the personal assets of partners are typically protected from the firm’s debts and liabilities. 

Unlike traditional partnerships, LLPs are recognised as separate legal entities, allowing them to own property, enter into contracts, and operate independently of the partners.

Key features of LLPs include:

• Limited Liability
• Separate Legal Entity
• Flexible Management
• Less compliances
• Perpetual Succession

LLPs are ideal for professionals and small businesses seeking a formal business structure with limited liability and operational flexibility.

Benefits of Registering an LLP in Pune

LLP company registration in Pune offers numerous benefits for business owners and professionals seeking a streamlined business structure with legal protections. Here are the key advantages of LLP registration online:

1. Limited Liability Protection

   LLPs shield partners’ personal assets from business debts, making them safer than traditional partnerships.
   

2. Separate Legal Entity

   An LLP is recognised as a separate legal entity, allowing it to enter into contracts, acquire assets, and operate independently of the partners.
   

3. Operational Flexibility

   LLPs in Pune can function with fewer compliances and regulatory restrictions than private limited companies, making day-to-day management simpler.
   

4. Cost-Effective Compliance

   LLPs have minimal reporting requirements, reducing administrative costs and making them budget-friendly for small and medium businesses.
   

5. Tax Efficiency

   LLPs can leverage various tax benefits, such as exemptions from dividend distribution tax, making them tax-efficient entities.
   

6. Perpetual Succession

   LLPs continue to operate even if partners leave or join, providing continuity and stability for the business.
   

7. No Minimum Capital Requirement

   An LLP can be registered in Pune with a low initial capital, making it accessible for startups and emerging businesses.
   

An LLP incorporation in Pune is an attractive option for those looking to establish a business with liability protection, operational ease, and cost efficiency.

Eligibility for Registering an LLP in Pune

Certain eligibility criteria must be met to register a LLP in Pune. Here are the key requirements for LLP company registration:

1. Minimum Partners

   An LLP must have a minimum of two designated partners. There is no upper limit on the number of partners.
   

2. Designated Partners

   At least one designated partner must be a resident of India. A designated partner is responsible for compliance with the LLP Act.
   

3. Age Requirement

   All designated partners should be at least 18 years old.
   

4. Digital Signature Certificate (DSC)

   All designated partners must obtain a Digital Signature Certificate, which is required to sign electronic documents during registration.
   

These LLP eligibility criteria ensure that the LLP is set up in compliance with the legal framework established by the Indian government.

Documents Required for LLP Registration in Pune

Below is an overview of the key LLP registration documents in Pune, which must be carefully compiled to meet the legal requirements set forth by the Ministry of Corporate Affairs (MCA).

LLP Registration Process in Pune

The LLP registration process in Pune involves several key steps to ensure compliance with legal requirements. Here’s a detailed guide for LLP incorporation procedure:

• Step 1: Obtain a Digital Signature Certificate (DSC)

  All designated partners must obtain a Digital Signature Certificate (DSC).
  

• Step 2: Name Reservation

  Propose a unique name for the LLP using the LLP-RUN (Reserve Unique Name) form on the Ministry of Corporate Affairs (MCA) portal. You can suggest up to two names. The name must comply with MCA naming guidelines.
  

• Step 3: Draft the LLP Agreement

  Prepare an LLP Agreement that outlines the partners' rights and responsibilities, profit-sharing ratios, and operational guidelines.
  

• Step 4: Incorporation of LLP

  Fill out the FiLLiP (Form for Incorporation of Limited Liability Partnership) and submit it to the Registrar at the LLP's registered office. Along with FiLLiP, include the Subscriber sheet and consent from the partners.
  

• Step 5: Obtain a Certificate of Incorporation

  Upon successful verification, you will receive a Certificate of Incorporation, which confirms your LLP’s registration.
  

• Step 6: File the LLP Agreement

  Submit the LLP Agreement using Form 3 on the MCA portal within 30 days of incorporation.
  

• Step 7: Open a Bank Account

  With the LLP’s PAN and TAN obtained during registration, you can open a bank account in the name of the LLP to manage finances effectively.
  

Selection of a Company Name in Pune & Trademark Process

Prior to initiating company registration, it is advisable to conduct a thorough company registration name check, ensuring adherence to MCA guidelines for the chosen name.

Following the company registration name availability search, you can apply for Trademark Registration to secure exclusive rights and a distinctive identity. This involves selecting a unique trademark, categorising it appropriately, and submitting an application to the Trademark Registry with the necessary documentation.

Use our “Company Name Search” to find company name availability and search for Trademarks, Domain Names, and Social Media Handles linked to your business name. 

Access a curated hub with accurate data sourced from the Trademark Database, MCA Database, and more – all at your fingertips in just one click!

Searching for a company name?

Check company name availability using our powerful name search tool.

GST Requirements for LLP Registration in Pune

Registering for the Goods and Services Tax (GST) in Pune is mandatory for businesses surpassing the prescribed turnover threshold, which is ₹40 Lakhs (for goods) and ₹20 Lakhs (for services). 

Certain businesses, like E-commerce, must register for GST, while others have the option to register voluntarily even if their turnover is below the threshold. Voluntary registration can benefit businesses looking to avail themselves of an input tax credit.

Essential documents, including PAN, Aadhar, business registration documents, proof of address, bank statements, and photographs of proprietors/partners/directors, are needed for GST registration.

To initiate GST registration for an LLP, follow these steps:

• Access the official GST portal,
• Complete the online registration process.
• Furnish the necessary information, including business details, PAN, Aadhaar, bank account details, and relevant documents.

Upon successful GST registration of a company, you will receive a distinctive Goods and Services Tax Identification Number (GSTIN). This 15-digit state-wise identifier includes the first 2 digits representing the GST code of the state/territory, with Pune (Maharashtra) designated as 27.

Example of GSTIN for Pune: 27AAQFB1222C1ZU

In Pune, businesses must comply with GST regulations, including obtaining GST registration, filing regular GST returns, and maintaining accurate records of sales and purchases. They must also ensure timely tax payments and proper GST invoicing to claim input tax credits. Failure to meet these compliance requirements can lead to penalties, so staying updated with GST deadlines and rules is essential for businesses in Pune.

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LLP Forms

During the new LLP registration in Pune, several forms must be submitted to comply with the Ministry of Corporate Affairs (MCA) requirements. Here’s a list of the key LLP registration documents required in Pune:

1. Form RUN-LLP (Reserve Unique Name)

   • Purpose: To reserve a unique name for the LLP.
     

   • Details: You can propose up to two names for approval.
     

   • When to File: Before filing incorporation documents through FiLLiP.

2. FiLLiP (Form for Incorporation of Limited Liability Partnership)

   • Purpose: Used for incorporating the LLP.
     

   • Details: This form contains details about the LLP and its designated partners.
     

   • When to File: After the name is reserved and the LLP Agreement is drafted.
     

3. Form 3 (LLP Agreement)

   • Purpose: To file the LLP Agreement with the ROC.
     

   • Details: This form outlines the rights and duties of the partners.
     

   • When to File: Must be filed within 30 days of the incorporation of the LLP.
     

4. Form 8 (Statement of Account and Solvency)

   • Purpose: To file the annual return of the LLP, detailing the financial position and solvency.
     

   • When to File: Should be filed within 30 days of the end of the financial year.
     

5. Form 11 (Annual Return)

   • Purpose: To file the annual return of the LLP, providing details about the partners and their contributions.
     

   • When to File: Must be filed within 60 days from the end of the financial year.
     

Company Registration Authorities in Pune

In Pune, the process of registering a company involves interaction with various authorities to ensure compliance with legal requirements. The primary regulatory bodies and authorities involved in company registration in Pune include:

1. Ministry of Corporate Affairs (MCA)

   The Ministry of Corporate Affairs oversees the implementation of the Companies Act and related legislation governing corporate affairs in India. Its core mission is to supervise company operations and promote transparency and accountability.
   

   The MCA is instrumental in managing company registration, regulation, and dissolution within the country.
   

2. Ministry of Micro, Small and Medium Enterprises (MSME)

   The Ministry of Micro, Small and Medium Enterprises (MSME) is a government body established to facilitate the growth and sustainability of micro, small, and medium enterprises. The MSME Ministry formulates policies, implements programs, and coordinates activities to foster entrepreneurship and enhance the competitiveness of MSMEs.
   

   MSME/Udyam registration is not mandatory but is often recommended as it offers various advantages, including tax benefits, access to credit facilities, and eligibility for various financial incentives and loans.

3. Registrar of Companies (RoC)

   The Registrar of Companies (RoC) is a governmental entity that oversees and regulates the activities of companies within a specific jurisdiction. Operating under the Ministry of Corporate Affairs (MCA), the RoC plays an important role in both the initial incorporation and the ongoing compliance of Companies and LLPs in India. 
   

   Maharashtra has two RoCs, one in Mumbai and the other one in Pune. The current details of RoC (as of October 2024) for the Pune Region: 
   

   • ROC- Pune
     Email- roc.pune@mca.gov.in 
     Address-  PCNTDA Green Building, BLOCK A, 1^st & 2^nd Floor, Near Akurdi Railway Station, Akurdi
     Pune- 411044, Maharashtra
     

4. Registrar of Firms (RoF)

   The Registrar of Firms (RoF) is responsible for supervising the registration and regulatory aspects of partnership firms. Governed by the Indian Partnership Act, partnership firms in India are subject to the crucial role played by the Registrar of Firms in overseeing the registration procedures and upkeep of records for registered partnerships.

   At the state level in India, the RoF operates with specific jurisdictions managed by assistant RoFs. In Pune, for instance, the assistant RoF is entrusted with overseeing and facilitating the registration of partnerships within that particular jurisdiction.
   

   Assistant Registrar of Firms, Pune
   Survey No. 47/30, Saraswati Parvati Bhavan, 2^nd Floor, Behind Lokesh Hotel, Arnyeshwar Corner, Pune Satara Road, Pune-411 009.
   Ph. No. 020-24221898
   

5. Government of Maharashtra

   The Government of Maharashtra, in alignment with the Ministry of Corporate Affairs (MCA) at the central level, plays a crucial role in the process of company registration within the state.
   

   Company registration in Maharashtra follows the regulatory framework set by the MCA, and the state government actively participates in facilitating and overseeing the establishment of businesses.
   

   • The Goods and Services Tax Department of Maharashtra oversees the implementation and management of GST & VAT within the state. Functioning within the overarching structure of the Goods and Services Tax Council, a constitutional body, it is tasked with formulating policies and providing recommendations on matters about GST. 
     

     It may be involved in granting specific registrations related to local business operations, Professional Tax Enrolment Certificates (PTEC), and Professional Tax Registration Certificates (PTRC). These are essential registrations for businesses operating in Maharashtra and various other states.
     

     PTEC facilitates professional tax payments for business entities, including directors, owners, professionals, and sole proprietors. On the other hand, PTRC empowers employers to deduct and remit professional tax from employees, ensuring compliance with government regulations.
     

   • In accordance with the regulations outlined in the Maharashtra Municipal Corporations Act, 1949, and the Local Body Tax Rules, 2010, businesses with an annual turnover of not less than 50 Crores are obligated to undergo Local Body Tax (LBT) Registration. This process is handled by the Pune Municipal Corporation. 
     

   • Pune Cantonment Board, under the Ministry of Defence, also provides a digital interface, allowing citizens to apply for a trade licence, track the applications, subsequently make the payment online, and download the payment receipt and TL certificate. 

6. Income Tax Department

   The Income Tax Department is tasked with supervising income tax matters, encompassing assessments, collections, and various tax-related activities such as issuing Permanent Account Numbers (PAN) and Tax Deduction and Collection Numbers (TAN). It ensures compliance with income tax regulations within the designated geographical area.
   

Certain industries, including insurance, financial services, broadcasting, and defence-related services, often require additional approvals from regulatory bodies like RBI, IRDAI, SEBI, Ministry of Defence, etc., to ensure legal and secure operations.

Types of Companies You Can Register in Pune

In Pune, you can register your company based on your unique business needs and structural preferences. Here are various  commonly chosen types to accommodate different business needs:

1. Private Limited Company

   A preferred choice for startups and businesses, the Private Limited Company operates under the regulatory framework of the Companies Act. This structure provides a balance of limited liability and operational flexibility, making it an ideal choice for those seeking a robust corporate setup. 

   

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2. Limited Liability Partnership (LLP)

   Governed by the Limited Liability Act of 2008, an LLP offers the advantages of limited liability to its partners. This structure is commonly favoured by professionals, service providers, and businesses seeking collaborative flexibility. 

   

   Register your Limited Liability Partnership in just ₹1,499 + Govt. Fee

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3. One Person Company (OPC)

   Tailored for individuals looking to establish a company with limited liability and single ownership, the One Person Company (OPC) is a streamlined option. It caters to solo entrepreneurs who want the benefits of a corporate structure while maintaining sole ownership and control. 

   

   Register your One Person Company in just ₹1,499 + Govt. Fee

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4. Public Limited Company

   Characterised by the issuance of shares to the public for fundraising, a Public Limited Company is a regulated business structure suitable for large multinational corporations. It provides avenues for significant capital infusion and broader ownership. 

5. Sole Proprietorship

   Ideal for small businesses and freelancers, Sole Proprietorship entails a single owner who is personally liable for all business obligations. This straightforward structure is often chosen for its simplicity and ease of operation.

6. Partnership Firm

   Established under the Indian Partnership Act, a Partnership involves two or more individuals jointly assuming responsibilities, sharing profits, and bearing liabilities. This collaborative structure is well-suited for businesses where shared ownership and decision-making are key considerations. 

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Checklist for the LLP Registration in Pune

Here's a comprehensive checklist for registering a Limited Liability Partnership (LLP) in Pune:

• Obtain a DSC for all designated partners

• Select a unique name for the LLP

• Prepare up to two name options to submit via the LLP-RUN form

• Draft the LLP Agreement 

• Fill out the FiLLiP (Form for Incorporation of Limited Liability Partnership)

• Obtain a Certificate of Incorporation

• Submit the LLP Agreement using Form 3 

• Open a bank account in the name of the LLP

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