Add Partner

Partners in a LLP are responsible for the carrying on the business of the LLP. To add a Partner to a LLP, the person proposing to become a Partner must obtain a digital signature certificate (DSC) and director identification number (DIN). DIN can be obtained for any person who is above the age of 18. The nationality or residency status of the DIN applicant does not matters. Hence, Indian Nationals, Non-Resident Indians and Foreign Nationals can obtain DIN and be appointed as Partner of a LLP in India.

Taxtoday is the leading business services platform in India, offering a variety of services like LLP registration, trademark filing, GST registration, income tax filing and more. Taxtoday can help you appoint a director in your company. The average time taken to file for appointment of Partner is about 10 – 15 working days, subject to government processing time and client document submission. Get a free consultation for appointment of Partner by scheduling an appointment with an taxtoday Advisor.

Duties and Rights of a LLP Partner

General Duties :

Partners of a LLP are bound to carry on the business of the LLP to common advantage, to be just and faithful to each other, and to render true accounts and full information of all things affecting the firm to any partner.

Duty to Indemnify:

Every Partner of a LP is required to indemnify the LLP for any losses caused to it by a fraud in the conduct of the business of the firm.

Rights of Partner :

All Partners have right to take part in the conduct of the business of the LLP and access to inspect and copy the book of accounts of the LLP.

Implied Authority :

The authority of a Partner to bind the LLP, in case of an transaction carried on, in the usual way business is carried on by the LLP, binds the LLP.

Properties of LLP :

All property, rights and interest in assets (tangible or intangible) acquired or developed with the money of the LLP are deemed to belong to the LLP.

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