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The Tax Publishers Incorporation of LLP : Major Revamp Pragya Lalwani Since commencement of Limited Liability Partnership(LLP) Act, 2008, LLP has been choosen over the other forms of business organization due to its remarkable features. Recently, Limited Liability Partnership (Second Amendment) Rules, 2018 has revamped the incorporation process of LLP by substituting the existing Forms for incorporation. Learned Author in the instant article highlights the major changes which would come into effect from October, 2018. 1. Opening Note Limited Liability partnership (LLP) is a hybrid of both, a company and a partnership firm. Alike company, LLP also has a separate legal entity and can be incorporated with a minimum number of two partners. Incorporation of LLP is governed by the provisions of Limited Liability Partnership Act, 2008(LLP Act, in short) and rules made there under. Chapter III of the LLP Act deals with the incorporation of LLP and matters connected thereto. As part of the Government process re-engineering several forms relating to incorporation have been replaced and revised. New compliances to be taken care of while incorporating a LLP and procedural steps to incorporate the LLP are discussed hereunder: 2. Obtaining Digital Signature Certificate All the partners or designated partners of the proposed LLP are required to obtain a Digital Signature Certificate from the authorized certifying agency for affixing the signatures on the Forms filed. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Incorporation of LLP : Major Revamp

Pragya Lalwani

Since commencement of Limited Liability Partnership(LLP) Act, 2008, LLP has been choosen over the other forms of business organization due to its remarkable features. Recently, Limited Liability Partnership (Second Amendment) Rules, 2018 has revamped the incorporation process of LLP by substituting the existing Forms for incorporation. Learned Author in the instant article highlights the major changes which would come into effect from October, 2018.

1. Opening Note

Limited Liability partnership (LLP) is a hybrid of both, a company and a partnership firm. Alike company, LLP also has a separate legal entity and can be incorporated with a minimum number of two partners. Incorporation of LLP is governed by the provisions of Limited Liability Partnership Act, 2008(LLP Act, in short) and rules made there under. Chapter III of the LLP Act deals with the incorporation of LLP and matters connected thereto. As part of the Government process re-engineering several forms relating to incorporation have been replaced and revised. New compliances to be taken care of while incorporating a LLP and procedural steps to incorporate the LLP are discussed hereunder:

2. Obtaining Digital Signature Certificate

All the partners or designated partners of the proposed LLP are required to obtain a Digital Signature Certificate from the authorized certifying agency for affixing the signatures on the Forms filed.