LLP Registration in Manipur

Introduction

For an LLP to get started there has to be at least 2 partners. There is no limit to the number of partners that can join LLP. It is best suited for small-scale industries. One has to register the LLP deed in the MCA portal. The partners' obligations and rights are outlined in the LLP agreement. One partner in an LLP is not liable for the misconduct and carelessness of the other partner. The compliances are the partners' responsibility.

The GSDP 2022-23 of Manipur is projected to be ₹423 billion. The most advanced industries in Manipur are those based on handicrafts, sericulture, and handlooms, and they generate a large portion of the state's revenue.

Documents for LLP Registration in Manipur

Here is a list of all the documents required for LLP registration in Manipur. Please note that if there are any issues with the documents submitted, the process will get delayed. However, the legal experts at Vakilsearch are there to assist you.

• PAN Card of all the partners
• Photograph of all the partners
• ID Proof of all the partners (Driving License/Passport/Voter ID)
• Electricity Bill or any other utility bill for the address proof of the registered office

Requirements For LLP Registration in Manipur

Here are the minimum requirements for LLP registration:

• Partners
  As mentioned above, there have to be at least 2 partners to start an LLP.
• LLP Names
  A Limited Liability Partnership (LLP) must have the words "Limited Liability Partnership of the acronym "LLP" at the end of its name. The three components of an LLP name are "The Name," "Activity," and the abbreviation "LLP" for a limited liability partnership. The Registrar of Companies must approve the proposed LLP name.
• Registered Office Address
  An LLP's statutory communications should be sent to its registered office address. In addition, you need a letter of consent from the owner of the address stating that you have no objections to using the address as your LLP's registered office.
• Certificate for Digital Signature (DSC)
  All paperwork is submitted to the Registrar of Companies online. Online document filing that requires the Director's digital signature certificate, obtained from an Indian certifying authority.
• Professional Certificate
  To make the appropriate certifications and declarations for the incorporation of a Limited Liability Partnership, the services of a Company Secretary, Chartered Accountant, and Cost Accountant is required.

Income Tax Rates for LLP

There are income taxes for LLPs and for LLPs registered in India, the appropriate income tax rate is 30% of the entire income. The tax payable is at the rate of 12% when the total income exceeds ₹ 1 crore.

Minimum Alternate Tax (MAT) for LLP

LLP must pay minimal alternate tax, just like a firm must pay income tax. For LLP, a minimum alternative tax of 18.5% of total adjusted income is applicable. Due to the income tax surcharge, education cess (Cess is nothing but the tax), and other factors, the income tax that LLP must pay cannot be less than 18.5 percent.

Process for LLP Registration in Manipur

Here are the 5 steps we have to follow to register an LLP in Manipur:

• Gathering digital signatures from each prospective partner is the first step in Manipur
• The next step is to submit a request to the MCA to reserve the LLP's name.
• We prepare the company incorporation documents, and they are delivered to the partners for signature. The documents must be scanned and uploaded to the Vakilsearch website, and our experts will provide you with the necessary information.
• The MCA must approve the signed copy of the documents before they are sent to our company.
• The final step in registering an LLP in Manipur is that our legal professionals confirm and submit the LLP deed which has to be signed by all the partners

Why Vakilsearch?

Vakilsearch offers the best services from the best legal experts in India to assist you with LLP registration in Manipur. Under the given time frame, we assure you to submit the LLP deed at your convenience. 100% online and hassle-free services, which makes legal services comprehensive for our 500k+ trusted customers! Also, every minute we set up 9 business setups! So, we are India’s largest legal service provider.