Limited Liability Partnership and Partnership Firm

PARTICULAR LIMITED LIABILITY

PARTNERSHIP
PARTNERSHIP FIRM
Governing Law The Limited Liability Partnership Act,
2008 and various Rules made
thereunder
The ndian Partnership Act, !"#2
and various Rules made
thereunder
$ommon %eal t denotes the signature o& the
$ompany and LLP may have its own
common seal, i& it besides to have
one'
(ot re)uired
*ormalities o&
ncorporation
+arious documents , declarations
e-ecuted in prescribed &ormats pre.
&illed in designated e.&orms are
re)uired to be &iled with R/$ along
with &iling &ee'
Partnership deed along with &orm,
a&&idavit re)uired to be &iled with
Registrar o& &irms along with
re)uisite &iling &ees'
Time line t will ta0e appro-' 20 days to
incorporate 1 inclusive o& time ta0en
to obtain 2P(3
t will ta0e appro-' 4 days to
incorporate'
Registration $ompulsory /ptional
$reation $reated by law $reated by contract
%eparate Legal
5ntity
t is separate legal entity, separate
&rom its partners6 designated
partners'
t is not separate legal entity &rom
partners' Partners are collectively
re&erred as &irm'
Perpetual
succession
t has perpetual succession' t does not have perpetual
succession'
Purchase o&
Property
LLP can also purchase movable ,
immovable property in its name
Partnership &irm cannot purchase
movable , immoveable property in
its name' the same must be
purchased in the name o&
partners'
PARTICULAR LIMITED LIABILITY
PARTNERSHIP
PARTNERSHIP FIRM
Governing Law The Limited Liability Partnership Act,
2008 and various Rules made
thereunder
The ndian Partnership Act, !"#2
and various Rules made
thereunder
$ommon %eal t denotes the signature o& the
$ompany and LLP may have its own
common seal, i& it besides to have
one'
(ot re)uired
*ormalities o&
ncorporation
+arious documents , declarations
e-ecuted in prescribed &ormats pre.
&illed in designated e.&orms are
re)uired to be &iled with R/$ along
with &iling &ee'
Partnership deed along with &orm,
a&&idavit re)uired to be &iled with
Registrar o& &irms along with
re)uisite &iling &ees'
Time line t will ta0e appro-' 20 days to
incorporate 1 inclusive o& time ta0en
to obtain 2P(3
t will ta0e appro-' 4 days to
incorporate'
Registration $ompulsory /ptional
$reation $reated by law $reated by contract
%eparate Legal
5ntity
t is separate legal entity, separate
&rom its partners6 designated
partners'
t is not separate legal entity &rom
partners' Partners are collectively
re&erred as &irm'
Perpetual
succession
t has perpetual succession' t does not have perpetual
succession'
Purchase o&
Property
LLP can also purchase movable ,
immovable property in its name
Partnership &irm cannot purchase
movable , immoveable property in
its name' the same must be
purchased in the name o&
partners'