Legal Requirement Stamp Duty on LLP Agreement is mandatory under the Indian Stamp Act or respective State Stamp Acts It validates the agreement as a legally enforceable document The agreement must be executed on non-judicial stamp paper of appropriate value Without...

MCA Portal Services The Ministry of Corporate Affairs (MCA) portal is the primary platform for LLP compliance It enables e-filing of key forms like Form 3 (Agreement), Form 4 (partner change), Form 8 (accounts), and Form 11 (annual return) The portal provides tools...

Legal Framework and Status No, an LLP cannot be listed on a stock exchange in India LLPs are governed by the Limited Liability Partnership Act, 2008, which does not provide for issuance of shares or securities Unlike companies, LLPs do not have share capital or...

Limited Liability Protection LLP offers limited liability to its partners, protecting personal assets from business debts Partners are liable only to the extent of their capital contribution There is no joint liability for the misconduct of another partner This...

Legal Position under LLP Act A body corporate can be a partner in an LLP as per the Limited Liability Partnership Act, 2008 However, it cannot directly act as a designated partner Only individuals can be designated partners under the Act A body corporate may nominate...

Intimation and Consent A designated partner must submit a written notice of resignation to the LLP The notice must be served as per the terms mentioned in the LLP Agreement If no such provision exists, a 30-day written notice is considered valid under the LLP Act The...

General Permissibility under the LLP Act The Limited Liability Partnership Act, 2008, does not restrict LLPs from engaging in share trading or investment activities An LLP can carry out such business if it is expressly permitted in the LLP Agreement The nature ofthe ...

Statutory Responsibilities A designated partner is responsible for ensuring legal and regulatory compliance of the LLP They must file annual returns, financial statements, and other prescribed forms with the Registrar of Companies They are obligated to maintain proper...

Legal Position under the LLP Act Yes, an LLP can admit an individual as a partner The Limited Liability Partnership Act, 2008 allows both individuals and bodies corporate to be partners There is no restriction on individuals becoming partners in an LLP, either alone...

Legal Permissibility Yes, the profit-sharing ratio can differ from capital contribution in an LLP The Limited Liability Partnership Act, 2008, allows partners full freedom to determine their terms There is no legal requirement to match profit share with capital share...