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Please Help...regarding incorporation of LLP

varun (CA (FINAL), M.com) (163 Points)

25 May 2010

Hello ALL,

Actually i am involving in the process of incorporating LLP. A person told me that every designated partner need a digital signature while someone told me that atleast one designated partner should have a digital signature. the act also states the same as i said by the second one.

the reason behind to obtain DSC for every designated partner is to use while filing eForm 7

Can a designated partner use his digital signature to file another designated partner's eform 7 for allotment of DPIN.

This is the first project of mine and i want the expert's help so that i can't came under some penalty clause...

regards,

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9 Replies

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8019 Points)
Replied 26 May 2010

According to me

1) The second one is correct that atleast one designated partner should have a digital signature. its not necessary to have all the partners as DSC. Only the Designated Partners, who will be the authorized signatories of the LLP, for the e-filing purpose, are required to obtain a DSC.

2) The reason for obtaining DSC is not for obtaining DPIN, since for DPIN , no DSC is required. It is required to file various E Forms on the LLP portal.

3) There is no point in using DSC of other partner to obtain DPINof other partner, since it is not mandatory to have DSC in order to fill e- form 7 for getting DPIN.

For more Inofrmation check > www.llponline.in

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varun (CA (FINAL), M.com) (163 Points)
Replied 26 May 2010

Then how can a person sign the application without obtaining a DSC?????????

varun (CA (FINAL), M.com) (163 Points)
Replied 26 May 2010

As Kevin said in another post about the need of DSC for every designated partner.?

then what is the meaning of that statement written in the act " atleast one designated partner should hold the DSC"

is it in the case for e-filing or something...????

as i think every designated partner need DSC for obtaining DPIN.....!!!!

Rahul Gupta (Project Controller ACA MBA(Fin.)) (8019 Points)
Replied 26 May 2010

Dear Varun, Go through the following link, you will het lots of answers to your questions from it. Also go thorigh, www.llponline.in. It is a very informational site especially for LLP. Ihope it will clear many of your doubts.

https://www.llponline.in/faq_category.php

Regards.

varun (CA (FINAL), M.com) (163 Points)
Replied 26 May 2010

Hello Rahul,

I think th situation is getting complicated as :

1. I ask customer care of www.llp.gov.in and they said that we need to hav a DSC of all the designated partners.

2. i read it out in the FAQ of the www.llponline.com that there is no need of DSC for obtaining DPIN

3. When i ask the executive of LLPonline , he said that DSC is required for all the designated partner.

4. Customer care executive said that it is required to file form 7 online and u cannot use other partners DSC in other partner's DPIN form

I told you all the aspects that came across my way.

waise, i made the DSC of two designated partners, but it is a matter of fact that the govt. wrote something and said something else. so where do we guys go for.!!!

i think there is a lots of confusion made in the process of incorporation.....

In fact, This is the begining, don't know what will gonaa happen in the future procedure .......!!!!!

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Rahul Gupta (Project Controller ACA MBA(Fin.)) (8019 Points)
Replied 26 May 2010

Hi Varun,

Thanks for sharing the practical experience.

Recently one of my friend, registered its LLP. Let me know, if anything more you require. May be she can help you.

Also, write a mail to the LLPonline executives about the clarification quoting what is stated on the website. Lets see what they reply.

Anyways, go ahead, this is the opprotunity to learn something different , since LLP is a new concept. I don't have any practical experience, so just interested to know more and more through sites and other source.

Once again thanks for sharing.

Regards