Flexibility and Benefits of LLP

22 Jan Flexibility and Benefits of LLP

Limited liability partnership or LLP term has recently become common among the new startups and entrepreneurs. LLP is a kind of partnership between some or all the partners of a firm where all the partners have limited liability. In simple language, it means that each one of them is not responsible completely for other partner’s misconduct in the company or organization. This flexibility is enjoyed between the partners at a very nominal cost of compliance.

For an easy set-up of any organization, LLP registration can be done. This facilitates an easy way to conduct day to day business. Anyone can easily register their company under LLP by looking for company registration near me in any search engine and they can get nearest registration centres details. LLP Act 2008 was introduced in India and bought in effect on 31^st March 2009. Some of the key benefits of registering an organization under LLP are as follows:

• Once a company is registered under LLP, the internal structure can be organised in a very flexible manner.
• In LLP, there can be any number of partners. This is very beneficial if the company has a high vision of growth and future plans to expand to the International level.
• Partners are free to raise funds for the company and utilize them at their will. But the fund utilization should be as per norms of listing under the Companies Act, 2013.
• There are some tax benefits for LLP companies, which are very much beneficial. The LLP firms are exempted from Dividend Distribution Tax (DDT) on dividend distribution.
• Most companies have regular audits of their accounts on a compulsory basis.  For a company registered under LLP, no such requirement is there. All other companies, whether they are private limited or public, have to get their accounts audited on a compulsory basis.

LLP has now become the 1^st choice of corporate professionals like engineers and doctors. Apart from them, advocates, cost accountants and CA also register at LLP. For small and medium scale enterprises, LLP is very beneficial. They can always prefer to new company registration in Delhi where the process is done within a few days and without any hassle.

Tax on track offers hassle-free company registration in Dwarka. The prices are very affordable for LLP registration and due to this; they have a good number of regular clients. Apart from LLP registration, tax on track provides trust registrations and company registrations under different categories. Annual return filing, income tax returns, and all other types of services are provided. All the services provided by tax on track and contact details can be found on taxontracksolutions.com, their official website.