The Benefits Of Limited Liability Partnership Registration With Help From Professionals
If you are unsure as to which type of legal structure you should opt for to start your business, then you should read on about a few aspects of limited liability partnership as well as its benefits for your business.
You probably have an idea in mind, but you are unable to implement it by yourself. You need partners to invest in the company as well to grow that idea into something that can earn you profits. But if the idea doesn’t prove to be fruitful, you might end up losing what you have invested as well as selling your personal belongings in case there is still debt to be paid. You could be forced to pay because of the negligence or misdeeds of a partner. No longer with LLP, as here all partners are held liable only with their investments.
Besides risk reduction, LLP would also get you tax advantages, as well as reduced compliance in case your company has an annual turnover of over Rs. 40 lakh.
Don’t be held liable for wrongs you didn’t do – let our experts over at Uptra Consultancy Services to help you register your LLP. Get ready to do business and start getting profits using one of the most popular legal structures!
Reducing Risks And Other Complications With Limited Liability Partnership Registration
When it comes to starting a limited liability partnership, there is no better way to register it other than hiring an accounting firm such as Uptra for help. Learn about the benefits of LLP registration as well as how it can reduce the troubles associated with private limited companies.
In a LLP, all partners get extra protection when it comes to debts that cannot be paid. In conventional businesses, partners would have to sell their assets as well as personal property in case of the inability of the business to cover it. With LLP, partners would limit liability to just the contributions.
There are other advantages of a LLP, such as fewer taxation requirements as well as longer intervals. LLP is also a cheaper option to incorporate, especially when you turn to a company such as Uptra Consultancy Services for help. You also have fewer compliances and the company would be much easier to manage.
So give us a call or fill out an application form and let us help you register your LLP. Start a successful partnership and minimize risks with help from some of the best accountants in India – you will surely see lots of positive results!
More about Limited Liability Partnership And How It Can Benefit Your Business
With limited liability partnership, becoming one of the most popular legal business structures in India, you have a great opportunity to implement your ideas and turn them into real money with help from a professional consulting service such as our company.
LLP has been implemented in India in 2008 and, since then, it has gained much attention in the industry. You need money for the business, and that means getting a loan. But what if one of your partners does something wrong and you end up with debts you cannot pay? With LLP, you won’t need to cover the debt with your possessions, and you also won’t have nearly as much hassle with tax returns and other compliances. Unless your business has a turnover of less than Rs. 40 lakh, you will have to file returns just once per year, which can also save you a lot of time and money.
So, if you think LLP is for you and you wish to register, a painless and quick way to do it would be to leave all the work to the professionals over at Uptra. We can help you gather the documentation and file it, guaranteeing an amazingly fast processing, so that you can start doing business as soon as possible.
A Few Things About Limited Liability Partnership You Might Not Know About
If you are planning to start a company with some of your associates and partners but have no idea how to proceed, then you should definitely hear about the reasons why limited liability partnership is perhaps the best choice.
There are many ways to contribute to creating a company, but the LLP is the one with the most tax incentives and lowest risks. The limited liability part refers to what happens when the business cannot pay its debts. In a traditional company, all partners are held liable to pay for this debt. What this means is that they not only lose the money invested in the company, but they must also sell their personal possessions to cover the debt. LLP eliminates this risk as partners are susceptible to losing only what they have invested, nothing more.
The taxation part is also better in a LLP, since you have to send the returns annually and not monthly or quarterly, reducing the amount of time and effort put in accounting.
So, if you plan to open a LLP you should get Uptra Consultancy Services to help you out. We offer some of the best accounting services in the nation and we can help you start your company as soon as possible!