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Formations Of Companies & LLP

Formation of Companies & LLP

Setting up a private limited company & LLP is one of the highly recommended ways to start a business in India. This type of company offers limited liability for its shareholders with certain restrictions placed on the ownership. An LLP has partners, who own and manage the business. Whereas in private limited company registration, directors may be different from shareholders.

Meru & Associates , provides a cost-effective company registration service in India. We take care of all legal formalities and fulfill the compliances, as defined by the Ministry of Corporate Affairs. Post-approval of the company registration process, you receive a Certificate of Incorporation (COI), along with PAN and TAN, PF, ESIC & GST number. Now, you can open a current bank account and begin your business operations.

Benefits of Company & LLP Registration

Registering as a company or LLP on MCA offers many benefits;

  •  A registered company or LLP increases the authenticity of your business. It helps your business to grab more tender.
  •  Attract more customers & faster growth in today competitive era.
  •  Procure bank credits and good investment from reliable investors including Angel investor with ease
  •  Shield from personal liability and protects from other risks and losses
  •  Offers liability protection to protect your company’s assets
  •  Raising Capital Contribution and greater stability

FREQUENTLY ASKED QUESTIONS

Q.1. What are the key differences between a Private Limited Company and a Limited Liability Partnership (LLP) in India?

Legal Structure:

Private Limited Company:

Separate legal entity distinct from its shareholders.

Governed by the Companies Act, 2013.

LLP:

Hybrid structure combining features of a partnership and a company.

Regulated by the Limited Liability Partnership Act, 2008.

Liability:

In both structures, the liability of members/partners is limited to their capital contribution.

Compliance Requirements:

Private Limited Company:

Mandatory annual general meetings.

Regular filing of financial statements and annual returns with the Registrar of Companies (RoC).

LLP:

Simpler compliance with fewer mandatory meetings.

Annual filing of Statement of Accounts and Solvency, and Annual Return.

Taxation:

As of 2025, both entities are taxed similarly under the Income Tax Act, 1961.

Foreign Direct Investment (FDI):

Private Limited Company:

FDI permitted under the automatic route in most sectors.

LLP:

FDI allowed in specific sectors with prior approval.

  • Step 1: Obtain Digital Signature Certificate (DSC) for directors.
  • Step 2: Apply for Director Identification Number (DIN) through SPICe+ Form.
  • Step 3: Reserve a unique company name with the Ministry of Corporate Affairs (MCA).
  • Step 4: Draft the Memorandum of Association (MoA) and Articles of Association (AoA).
  • Step 5: File SPICe+ form along with necessary documents with the MCA.
  • Step 6: Obtain the Certificate of Incorporation (COI) from the MCA.
  • Step 7: Apply for PAN and TAN for tax compliance.
  • Step 8: Open a company bank account and comply with post-incorporation requirements.
  • Step 1: Obtain Digital Signature Certificate (DSC) for designated partners.
  • Step 2: Apply for Designated Partner Identification Number (DPIN) via MCA portal.
  • Step 3: Reserve a unique LLP name using RUN-LLP service on the MCA portal.
  • Step 4: Draft and file LLP Incorporation Form (FiLLiP) with required documents.
  • Step 5: Submit LLP Agreement within 30 days of incorporation.
  • Step 6: Obtain Certificate of Incorporation from the MCA.
  • Step 7: Apply for PAN and TAN for tax purposes.

  • For a Private Limited Company:

    • Annual filing of financial statements (AOC-4) and annual returns (MGT-7) with the MCA.
    • Conducting board meetings and annual general meetings (AGMs) as per the Companies Act, 2013.
    • Statutory audit of financial statements is mandatory.
    • Filing income tax returns and GST returns if applicable.

  • For an LLP:

    • Annual filing of Statement of Accounts and Solvency (Form 8).
    • Filing Annual Return (Form 11) with the MCA.
    • Tax audit required only if turnover exceeds ₹50 lakhs or contribution exceeds ₹25 lakhs.
    • Filing of GST returns and income tax returns if applicable.
  • Yes, a Private Limited Company can be converted into an LLP under the LLP Act, 2008.
  • Key conditions for conversion:
    • No secured loan or charge should exist against the company’s assets.
    • All shareholders must agree to the conversion.
    • No pending legal cases against the company.
  • Process of Conversion:
    • File an application for name reservation for the LLP.
    • File Form URC-1 for conversion with MCA.
    • Obtain LLP Certificate of Incorporation.
    • Transfer assets and liabilities from the company to the LLP.
    • Intimate the Registrar of Companies (RoC) about the conversion.