Availing of the services of the LLP registration in Bangalore city is considered to be a great idea for the individuals because these kinds of forms of organisations are comparatively easy in terms of setting up and will be hasslefree in terms of day-to-day operations. This particular concept is very much helpful in terms of providing people with a very low compliance burden and further helps in making sure that there will be minimal activities in the whole process. Some of the major advantages of going for the LLP registration in India have been very well explained as follows:
No requirement of the minimum contribution:
The best part of depending upon the LLP registration in this particular area is that there will be no requirement of the minimum capital in the whole process. The LLP can be easily formulated with the help of the least possible capital and the contribution of the capital of any kind of partner will be consisting of tangible, movable or immovable property which is another very important benefit of the LLP.
No limit on the owners of the business:
Any kind of LLP will always be requiring a minimum of two partners because there is no minimum on the maximum limit of the partners at any step throughout the process. This will be perfectly in contrast to the private limited company where the restriction of having not more than 200 members will be there throughout the process.
Very low cost of registration:
The cost of undertaking the registration of LLP is very much low in comparison to the incorporation of a private limited company which is another very important point to be taken into consideration in this particular case. Ultimately it will be helpful in terms of providing people with the benefit of cost efficiency at the whole step without any kind of problem.
No need for compulsory audit:
One of the most important advantages of depending upon the LLP registration is that there will be no requirement for a compulsory audit in the whole process and ultimately everyone will be able to enjoy multiple benefits in the whole system. The contribution of the LLP will be exceeding Rs.25 lakhs or the annual turnover of the LLP will be exceeding Rs.40 lakhs then only there will be a need of getting the taxation audit in the whole process otherwise there is no requirement for this thing.
The taxation aspect is very much favourable:
For, the income tax purpose the LLP will be treated on par with the help of other reforms which will be helpful in terms of providing people with many perks. There will be no dividend distribution tax payable in this particular case and the provisions are also very much favourable throughout the income tax act.
Hence, the LLP registration cost in Bangalore is very much genuine in comparison to the benefits provided by it which will be ultimately helpful in terms of providing people with proper peace of mind.
