What is the best way to Start LLP in India

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What is the best way to Start LLP in India 
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• LLP is abbreviated of Limited Liability
  Partnership and is an organization that grants
  you the benefits of limited liability. The
  liability of a partner in an LLP is only
  responsible for their capital invested and no
  such personal liability. An LLP firm must adhere
  to the regulations and rules imposed by the
  government for it to continue to operate. It is
  possible to find the regulations you have to
  adhere to in order to establish yourself as an
  LLP within India. Limited liability of LLP
  partners LLP is a legal entity that provides
  limited liability protection for its members. The
  liability of the members is limited to the amount
  they contribute to the business. Thats why the
  members are not responsible for the debts of one
  another or other misconduct. But, the partners
  are accountable for their own debts. The LLP is
  also able of suing legal notifications under the
  name of its members. In order to establish and
  register an LLP it is necessary to apply for
  Director Identification Number (DIN). It is a
  unique number given through the Ministry of
  Corporate Affairs. It is also necessary to get a
  Digital Signature Certificate (DSC). LLPs have
  various legal capacities and are able to enter
  into contracts. They also have the ability to
  purchase properties under themselves. However,
  FDI is not allowed in real estate businesses and
  agricultural/plantation activities.

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• The steps to start registering the LLP
• LLP is a type of business structure that combines
  the advantages of a partnership firm with the
  advantages of the limitations company. This LLP
  is governed by the Limited Liability Partnership
  Act, 2008. In the LLP partnership, partners
  liability are limited by the amount made to the
  company. The LLP provides a variety of benefits,
  including the reduction of compliance costs and
  capital requirements that are less as well as the
  flexibility for a partnership company as well as
  a host of other benefits. In order to establish
  as an LLP the minimum requirement is two partners
  must be present. Each partner must present an PAN
  card. Additionally, a electronic signature (DSC)
  is mandatory for all designated partners. Digital
  signature certificates are issued by
  government-approved certification agency. The
  price for an electronic signature certificate is
  different between certifying agencies and
  certifying agency. Selecting a catchy name for
  your LLP The choice of a name that is descriptive
  that describes Your LLP firm is a vital
  step. With this in mind, The Registrar of
  Companies Central (ROC) has established
  guidelines on how to name your LLP. The ROC has
  set the bar very high, and entrepreneurs who want
  to succeed must complete their homework prior to
  hitting the new name.. There are many traps to
  stay clear of.

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• For instance, The ROC (now the central ROC) is
  not going to approve the name if it is too
  similar to an existing business or existing Trade
  Marks. The reason for this is that the registrar
  will consider the ways in which the name being
  proposed is linked to the operations and
  activities of the business. Another reason to
  select the right title for the LLP firm is to
  ensure that you draw customers to your
  company. The LLP name should convey the essence
  of your business and help you be more connected
  to your sector. Incorporating your LLP to another
  person who joined them as a Partner LLP is an
  entity that combines those advantages that come
  with a partnership as well as the advantages of a
  corporation. The LLP is considered to be a hybrid
  entity that provides liability protection for its
  members. They are often used by professional
  companies.

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• LLPs are an excellent choice for small-sized
  businesses since they provide a lower level of
  liability for the owners. The members in an LLP
  are not responsible for the negligence and debts
  of their members. Most of the time, LLPs are
  managed by an organization of business
  professionals. Limited Liability Partnerships
  (LLP) can be registered in just a few steps. The
  first step is to draft a partnership
  contract. The agreement should define the
  obligations of the LLP as well as the
  partners. The LLP can submit the agreement to the
  state, or you can use on-line legal assistance.

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• Yearly file LLP Form 8 and 11
• All LLPs are required to file annual forms
  regularly to avoid heavy fines. Failure to submit
  annual forms is considered to be a serious crime
  that could lead to being struck off from the
  LLP. The government maintains documents about
  LLPs along with their activity. Inability to file
  annual forms is deemed to be fraud. If an LLP is
  not engaged in commercial activities, it must to
  declare on Formula 8 as well as Form 11 if it is
  operational or not. If its not operational then
  the LLP remains non-operational for a minimum of
  one year. For LLPs with an annual turnover that
  exceeds 40 lakhs, its required to file an
  audited financial report. The audited financial
  statement has to get the certification of an
  auditor. The company is also required to pay the
  prescribed Roc filing fees. In the event that it
  does not submit the required fees and is found to
  be in breach, it will be subject to a fine of 10
  rupees per day. The penalty is increased with
  time. For more information on LLP registration in
  Bangalore or LLP filings, please contact Prakasha
  Co Bangalore.
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