Limited Liability Partnerships

Limited Liability Partnerships

Your Pathway to Business Success with TKM Associates

At TKM Associates, we offer comprehensive services for establishing, managing, and growing your Limited Liability Partnership (LLP) in India. An LLP combines the flexibility of a partnership with the protection of limited liability, making it an ideal business structure for small and medium enterprises (SMEs) and professional ventures. Our experienced team ensures that your LLP is compliant with regulatory requirements, enabling you to focus on growing your business with confidence.

What is a Limited Liability Partnership (LLP)?

A Limited Liability Partnership (LLP) is a hybrid business structure that offers the benefits of a partnership, such as flexibility in management and profit-sharing, along with the advantage of limited liability protection for its partners. In an LLP, the liability of each partner is limited to their agreed contribution, reducing personal financial risk in case of business debts or legal issues.

Benefits of Choosing an LLP:

Limited Liability Protection:

• Partners in an LLP are protected from personal liability, limiting their exposure to the amount invested in the business.

Flexibility in Management:

• LLPs offer freedom in terms of business operations and decision-making, unlike traditional companies.

Pass-Through Taxation:

• Profits are taxed at the partner level, avoiding the double taxation that applies to corporations.

No Minimum Capital Requirement:

• There is no minimum capital requirement for starting an LLP, making it cost-effective for small businesses.

Better Credibility:

• An LLP provides a formal business structure that can enhance credibility and attract investors or clients.

Our LLP Services:

LLP Formation and Registration:

• We assist in the process of registering an LLP, including obtaining the required licenses and legal documents, drafting the LLP agreement, and filing the necessary forms with the Ministry of Corporate Affairs (MCA).

Drafting LLP Agreements:

• Our experts help you prepare a detailed LLP agreement that outlines the rights, duties, and obligations of each partner, profit-sharing ratio, and other operational terms.

LLP Compliance Services:

• We ensure your LLP remains compliant with regulatory requirements by handling annual filings, statutory audits, and updating any changes in the partnership structure or business activities with the MCA.

Taxation and Accounting Services:

• We provide complete tax compliance and accounting services for LLPs, including GST filings, income tax returns, and assistance in managing accounting records for transparent financial reporting.

Conversion of Business Structures:

• If you’re looking to convert your existing partnership or sole proprietorship into an LLP, we offer expert guidance throughout the process, including the preparation of necessary documents and registrations.

LLP Dissolution:

• If you wish to dissolve your LLP, our team can help you with the proper legal steps, filing for winding up, and ensuring that all liabilities and assets are addressed.

Why Choose TKM Associates for LLP Services?

Expertise and Experience:

Our team has in-depth knowledge of LLP regulations and ensures that your business structure is set up properly from the start.

Customized Solutions:

We provide personalized solutions based on the specific needs and objectives of your business.

Comprehensive Support:

From formation to compliance and tax services, we offer end-to-end assistance to manage your LLP smoothly.

Timely and Accurate Filings:

We ensure that all filings are done accurately and within deadlines to keep your business in good standing.

Transparent Pricing:

Our fees are competitive and transparent, ensuring no hidden costs for our clients.

Industries We Serve:

Our LLP services are suitable for a variety of industries, including:

• Professional Services (e.g., Law Firms, Consultancy, Accounting)
• Technology Startups
• Trading and Retail Businesses
• Real Estate and Construction
• Healthcare and Education

Partner with TKM Associates for Your LLP Journey

An LLP is an excellent choice for businesses looking for flexibility and liability protection. TKM Associates offers seamless LLP formation, compliance, and management services to help you achieve long-term success. Whether you’re a startup or an established business looking to restructure, we provide the guidance and expertise you need.

Contact us today to learn more about how an LLP can benefit your business, and let us help you set up and manage your LLP efficiently!