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Statutory Compliance after LLP Registration



Statutory Compliance after LLP Registration

Successfully incorporating a new LLP is a great moment for any business owner. It’s a clear indication that your dreams are now on their way to being a reality. However, online llp registration is not the last step. Even though LLPs are famous for having minimal compliance requirements, there are certain requirements that must be met after LLP registration. It’s very important to comply with these compliances, some of them, such as submitting your LLP agreement, it’s necessary to be done as soon as possible as you can’t start your business venture before you do so. In this article you will find an exhaustive list of all statutory compliances that you need to fulfil after LLP registration in the order of priority.

Compliances after LLP incorporation

LLP Agreement

The most important compliance that limited liability partnerships have to fulfil right after incorporation is to draft and submit their LLP agreement with the MCA. An LLP agreement is an extremely important document that specifies all details of the LLP, such as how the LLP will function, what its day-to-day activities will be, as well as what every partner’s role in that limited liability partnership will be. It also specifies the kind of remuneration every partner will be eligible for. Hence, until the LLP agreement is executed, the LLP cannot start. Every LLP agreement is legally required to be submitted with the MCA within 30 days from incorporation. Any delay in filing the LLP agreement carries a fine and can lead to having to face significant penalties from the MCA.

Permanent Account Number (PAN)

Every limited liability partnership is mandatorily required to get a Permanent Account Number (PAN). PAN is required for the LLP to be able to file their income tax. Hence, every LLP should apply for a PAN as soon as possible. To get a PAN for your LLP, you will be required to submit a copy of your LLP incorporation certificate.

Application for Tax Deduction and Collection Account Number (TAN)

Limited library partnerships are also required to obtain a TAN. TAN, also known as Tax Deduction and Collection Account Number is required for limited liability partnerships to be able to charge TDS. No LLP can charge TDS without TAN.

Opening Bank Account in LLP’s Name

Limited liability partnerships are required to open a current account. Having a current account is helpful for any loans from financial institutions that the LLP might need in the future as well as helpful for accounting purposes.

To open a current account for an LLP you need to provide the following documents:

  • Copy of the FiLLiP (LLP incorporation form)
  • Copy of form 3 for LLPs
  • Copy of LLP agreement
  • PAN of the limited liability partnership
  • Bank account details of a valid bank account of any of the partners
  • KYC details of the partners of the LLP
  • Some deposit by the partners to start the account

Statement of Accounts and Solvency

It is very important for limited liability partnerships to maintain a book of accounts and financial statements. This is important as every LLP is required to file forms 8 and 11 as a part of their annual compliance. Both of these forms require the limited liability partnership to provide Information regarding their annual financial statements and their annual accounts, turnover etc. Not maintaining accounts can lead to major discrepancies when the time comes to file the aforementioned forms for annual compliance. Statement of accounts are also extremely helpful for LLPs that may have to get audited. Generally LLP do not have to get audited, however if a limited liability partnership ends up having a turnover of over INR 40 Lakhs or has a capital investment of more than INR 25 Lakhs, such an LLP needs to get audited.

Filing LLP Annual compliance

As mentioned before, annual compliance for limited liability partnerships includes filing form 8 and form 11. Form 11 requires limited liability partnerships to provide all the details of their annual returns. Form 8 requires all the details of the LLPs accounts and solvency.

Other registrations

Apart from the above-mentioned compliances you may have to go for certain other registrations as well depending on the type of business activities your LLP is involved in. For example, if your LLP is involved in any sort of business related to food, you will be required to get an FSSAI registration before being able to start operations. Additionally, if your LLP has a shop or commercial establishment, you are mandatorily required to get a Shops and Establishment registration within 30 days of incorporation. You might need to get registered under the Factories Act, 1948, if you own a factory and employ more than 20 people. There are many such registrations required that are directly related to the kind of business operations you carry out; all of these business registrations are mandatory and carrying out business operations without them can even lead to your LLP being closed down. To ensure that all your registration requirements are appropriately met, we suggest talking to a legal expert like


Starting an LLP is surely a very important step in your business taking off. However, for any business, taking care of its compliance needs is as important as anything else in helping it succeed. Not fulfilling your compliance requirements can lead to major penalties.


Best Ways to Keep Your Car Clean During Winter



Winter can be such a challenging time of the year for many a car owner. You are already struggling with winter. Now imagine your car suffering too due to corrosion from the salt on the road.

Consequently, keeping your car clean in winter can be a not so straightforward task. You imagine having to clean the vehicle and wipe off the snow from the windscreen only to come back tomorrow with more. You can also collect the various bug and tar remover for cars in the market.

It is, however, paramount that you keep your car clean in winter. That’s down to the snow sticking onto the undercarriage and exposing the vehicle to salt. We all know how corrosive salt can be.

So, what are some of the ways one can keep their car clean in winter? We have outlined a few ways here for your benefit.

Don’t Go to Work with Your Car

Absurd, isn’t it? But is there a better way to keep your car 100 percent clean? We bet there isn’t. If you have the option of using the bus to work or can carpool with a neighbor, why not try it?

It is often said it is better to prevent something than to remedy it. Why not then stop the car from getting dirty by leaving it at home?

You will avoid exposing the car to more dirt and, consequently, only have to do light cleaning. Who wouldn’t want that?

Drive Safely

Don’t understand the relationship between driving safely and keeping the car clean? Picture drifting around at high speed on a snow-covered road sparking off snowstorms and other muck.

Results? The car gets a coating of salt, mud in addition to the snow and other muck. Such will give you a hell of a time cleaning. Yeah, yeah, we understand sometimes you might be late and need to cruise away, just don’t make it a habit.

Another way you can drive safely and keep your car clean is by driving a safe distance from the next vehicle. That will ensure the dirt the other cars kick up doesn’t fall on your car.

Use Rubber Mats Instead of Carpets

We understand carpets in your car add up some warmth for your feet. But imagine getting with all that snow and dirt on your feet, then stepping onto the carpet. It would be disastrous and might even lead to corrosion of the car’s steel bodywork.

If possible, cover the carpets with rubber mats. Rubber mats are considerably easier to wash, and dirt doesn’t stick too hard onto them.

Imagine the happiness you’ll get jumping into your car with your muddy shoes but not having to worry about the cleaning being difficult. Convenient, isn’t it?

Get that Protective Waxing

The part of your car most susceptible to damage due to the snow and dirt is the exterior. What with all that salt on the road that falls on the car surface as you speed away. That’s why you have to invest in protective waxing.

The waxing will coat the exterior and prevent corrosion from the salt that might fall onto the car. If done well, the waxing will last you well over three months.

Remember to do it in late autumn, however. That’s because it is easier to wax when it’s warm than when the weather is cold.

Wash the Car More Frequently

Are you they type of people who wash their car only when it gets really, really dirty? Well, if you’re to keep it clean in winter, you might have to cut back on that habit.

Try washing it after every few days, let’s say something like every ten days. Get the picture? A pressure washer will come in handy here as you will effortlessly wash away the snow fog and salt.

Remember to do it during the day so that the car gets enough time to dry. If you wash it in the evening, the temperature drop that occurs at night means the car won’t dry sufficiently.

Final Thoughts

Keeping your car clean in winter doesn’t have to be a complicated affair. Just follow the ways we have mentioned, and you will have your favorite machine in pristine condition each time. All the best.

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Do employment background checks help create a better customer experience?



The customer is always right. If you’re a business owner you know that and you’ve probably told your employees a million times the customer should always be happy, or else they might take their business elsewhere. The problem is what can Australian business owners do to make sure this is always the case? Can background checks help with that?

The importance of pre-employment background checks

The employees are the face of your company, especially those who interact with your customers on a daily basis. Many Australian companies have strict dress codes for those employees who work directly with the customers, but looks aren’t everything.

To understand the importance of criminal police checks, let’s examine a hypothetical situation. Say you own a shoe store visited by hundreds of women of all ages every day.

What if one of your salespersons happens to be a guy with a history of sexual harassment? Can you even imagine what a nightmare experience one of your customers might have if that guy starts making inappropriate comments or touching her legs while presenting her with various pairs of shoes? Many women are afraid to say anything in such a situation because they might be ashamed of what just happened, but you can bet that customer will never set foot in your store again. And will tell all her friends to stay away.

Or let’s take another scenario, with an employee with a criminal record for various acts of violence. A short-tempered guy might easily become nasty if not downright violent with a demanding customer. Yes, some customers can be very difficult, but your staff should go out of their way to accommodate them because that’s how business works.

How to make police checks part of your hiring strategy

No business wants to be dragged into a public scandal and the only way to avoid that is to make sure your employees are not dangerous. One way of doing that is checking their criminal history.

To avoid awkward situations, you can write that down in the job ad. ‘Selected candidates will have to submit to a national police check or an ancc police check from a character check agency like ANCC’. They’ve been informed now and if, for some reason, they do not want to have a background check they’d better not apply for that position.

Should this question surface during the job interview, your hiring manager can explain the reasoning behind this decision – the company wants to avoid being dragged into a public scandal. Also, add that the company uses the services of an online character check agency, so this won’t inconvenience the candidate in any way.

Another argument is that should such a situation appear, it’s not just the employee at-fault who might be facing charges, but also the company for failing to ensure public safety. At the very least, the company might be sued for negligent hiring.

Knowing that a candidate doesn’t have a criminal record doesn’t guarantee they won’t be causing any sort of trouble in the future, but the risks are significantly lower.

Then you can look at other things you need to do to create the best possible experience for your customers, like providing regular training for your employees and having them permanently monitored.

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How to Find the Best Shipping Company and Save Money on Shipping



Shipping is one of the most expensive things you will do in your life. It can be easy to find a cheap shipping company if you know where to look, but sometimes it is hard to find that perfect company and still save money. You should be aware of the Several factors that go into freight forwarding.

Some tips for finding the best shipping company include:

– Use Google’s advanced search feature, which can narrow down results based on your specific needs

– Check shipping rates on Amazon so you know what they cost before you get anything shipped

– Check reviews online to make sure people have a good experience with the company

– Make sure the company offers a good return policy

What is a Shipping Company?

A shipping company deals with the transport of goods from a point of origin to a destination.

Shipping companies are key for international trade and international business. This industry is dominated by a few large companies who control the global market share. In order to survive, these companies have to provide services at lower costs than their competitors.

It can also be thought as an organization that has been created for transport or logistics purposes in general. The specific type that ships goods is called “a freight forwarder” while other types include “transport brokers” and “logistics providers”. Freight forwarders are mostly concerned with movement.

How to Find the Best Shipping Company for You

We all know how important delivery of the product is. For businesses, it can be the difference between profits and losses.

But getting the product to your customers’ doors can be really expensive, especially when you are using shipping companies that don’t provide efficient services.

It can be difficult or expensive to figure out which shipping company is best for your needs. That’s why we created this guide on how to find the best shipping company for you!

What’s the Best Way of Shipping?

As ecommerce becomes an integral part of our lives, the desire to purchase goods online has increased. In an effort to save time and money, many people have chosen to ship their goods through a courier or postal service rather than using a shipping company.

Shipping or freight companies are not designed for individuals but for big businesses.. As such, they don’t provide individual services, like finding loads of people who want to send something or what is the cheapest way of shipping goods. To find these answers you would need to contact individual couriers and ask them about the shipping rates for your specific items.

As such, it leaves you with a lot of research and planning ahead of time which can be very time-consuming and difficult if you’re not familiar with what you’re looking for.

Some companies and organizations ship goods via a freight forwarder. This is the best way to ship your goods because they have connections to the shipping lines and provide discounts when you find loads to ship in bulk order. However, if you are looking for the cheapest way of shipping your goods, then you should consider using a freight forwarder. If you want to use an airfreight delivery service, then you need to make sure that they have enough experience with international shipments before signing up for their services.

This is typically determined by where your product is going as well as what type of container it needs to be shipped in.

Top 5 Duties You Should Ask Before Choosing a Shipping Company

As a business owner, you want to make sure that you and your company are in the best possible hands. That is why you should be sure that your chosen shipping company is going to do their job well for you.

Below are five important things that you should ask about a shipping company before hiring them.

– How long have they been in business?

– What type of experience do they have with shipping?

– What will their cost be?

– Are they insured and bonded?

– When are they available to ship my goods?

Conclusion: Start Using a Trusted Shipping Company Today to Save Money & Hipster Points

Shipping is a pain, and it can be expensive. It may not seem like a big deal when you are getting just one thing from Amazon, but when you’re sending out five items to your friends, it adds up. In order to save money, we have to think about all the things we buy online and being careful about what we purchase. Plus, when you do purchase something online and send it to someone else for free or cheap shipping, it’s just a nice gesture on your part.

To save money or even hipster points in the world of marketing today, companies need to use their shipping company of choice.

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