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A Limited Liability Partnership (LLP) is a type of business structure that gives you the benefits of a company and a partnership in one. In simple words, it means you and your partners run a business together, but your money and property are not at risk if the business loses money or faces legal issues.
Each partner has limited liability, which means no one is responsible for another partner’s mistakes. LLP is a legal identity of its own, just like a company. It can own property, sign contracts, open bank accounts, and even go to court in its name.
LLPs are great for startups, small businesses, and professionals like a CA, lawyers, or consultants. You don’t need a big investment to start one, and the rules are simpler than running a private limited company. LLPs are governed by the LLP Act, 2008, and are registered with the Ministry of Corporate Affairs (MCA).
To register, you need a few simple documents like a PAN card, Aadhaar, address proof, and utility bills. Everything is done online, and we’ll do it all for you at CallmyCA.
Your money and property are safe. You're only responsible for what you invest.
Your LLP is treated as a separate person legally. It can own things, enter into contracts, and file taxes on its own.
Start your LLP with any amount — there’s no minimum money required.
Fewer rules and annual filings make LLPs easier and cheaper to run.
You and your partners manage the business directly. No board meetings or heavy paperwork needed.
LLPs don’t have to pay dividend tax, and profits are taxed only once — no double tax.
You need at least two partners to start. There’s no upper limit. One must be a resident of India.
Yes. Without registration under the MCA, your LLP has no legal identity or protection. You can’t run an LLP without it.
Yes, but at least one partner must live in India. Foreigners will need notarized documents and valid passports.
It usually takes 10 to 15 working days, depending on how quickly you send the documents and get approvals.
CallmyCA offers affordable packages starting at ?4,999. The final cost depends on the number of partners and their contributions
No renewal is needed. But you must file annual returns and financial statements to keep it active.
If you want less paperwork, lower cost, and more freedom, LLP is better. If you want to raise funding, go for a private limited company.
Yes, your current firm can become an LLP. We’ll help you with the full conversion process and filings.
Yes, LLPs save on taxes like Dividend Distribution Tax. Also, partner income isn’t taxed again.
LLPs can’t issue shares. But they can raise money through loans or partner contributions.
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