A private limited company is the company, where the primary source of funds is from the owners and the relatives of the owners of the company only and not from outsiders.As they are economical in nature and there is no dilution of control of the owner.It is a voluntary association of at least two and not more than 200 members, whose liability is limited. Whereas, LLP is a unique form of legally recognized corporate entity, which integrates the features of both the limited corporations and the traditional partnership firms. As it is a unique Hybrid Combination of both Company and Partnership, this LLP is especially suitable for small to medium-sized business enterprises and professionals particularly. Further as compare to Private Limited Company, cost of maintaining LLP is very in the Limited Liability Partnership, and some time is become essential and beneficial to convert private limited company into LLP. We, at Complainceship, having the experience of more than 10 years of converting Private Ltd. Company into LLP, provide full fledge assistance to the entrepreneur in converting its private Company into LLP without any hassle and help them in achieving their dreams.
|Members||Minimum 2 partners Maximum no limit||Minimum 2 members Maximum 200 members|
|Requirement as to maintenance of statutory records||No such requirement||It is Compulsory to maintain record as per Companies Act 2013|
|Audit of Accounts||Require only if Turn over above 40 lacs or Contribution more than 25 lacs.||Audit is Compulsory|
|Taxation||The rate of tax is 30%||The rate of tax is 25% subject to turnover.|
|Loan & borrowings||As per LLP Agreement. No other requirements||There is Cap for Loans and Borrowings as per section 179 & 180, Require to hold Board Meeting and file form with ROC|
|Convening of meetings||No such requirement||Require to hold at least four Board Meetings and One Annual General Meeting.|
Complianceship is the technology driven platform