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LLP vs PVT Ltd which one is good

Eswar Reddy S (CFO- at NHTF) (58275 Points)

05 February 2023

LLP or Pvt Ltd, which one good for easy compliance and with minimum budget

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13 Replies

CA Altamush Zafar (GST Consultant) (15976 Points)
Replied 05 February 2023

LLP has much lesser compliances as compared to private limited company.

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MPR Sanjay Kumar (3118 Points)
Replied 05 February 2023

@ CA altanush Zafar sir , could you please tell me the GST formulas like

how to find out taxable value

how to find out tax % percentage

some tricks is there plse tell me the formula sir

1 Like

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 05 February 2023

Is LLP requires auditor appointment just like company auditor?

3 Like

prasad Nilugal ( GST Practitioner & Accounts ) (14831 Points)
Replied 05 February 2023

Yes , Auditor is required as per section 24 of the LLP rules 2009 . ( C A In pratice)
You refer LLP Act 2008 and LLP rules 2009 .

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 06 February 2023

What are minimum compliances for LLP?

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sabyasachi mukherjee (27636 Points)
Replied 06 February 2023

Minimum compliance for LLP and tax calculation is different.

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 06 February 2023

Your answer is not relevant

1 Like

prasad Nilugal ( GST Practitioner & Accounts ) (14831 Points)
Replied 06 February 2023

Compliance of what ?. .........

Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 06 February 2023

ROC submissions annually, quarterly if any

1 Like

prasad Nilugal ( GST Practitioner & Accounts ) (14831 Points)
Replied 06 February 2023

I think in case of LLP you have to comply with MCA not ROC .

1) LLPFIN - for the purpose of incorporation of LLPFIN

2) Form 3 - registration of LLP

3) Form 11- Annual return of Capital

4) Form 8 - Statement of Accounts / Solvency ( P & L , Balance sheet) Annual

5) KYC

So on so forth . as I stated above you have refer LLP Act and rules. Not much compliance like PVT Ltd. Company. May be any LLP nearby you , just confirm with them or MCA .