LLP FORM – 3
The purpose of filing the LLP Form No. 3 is to provide information regarding the Limited Liability Partnership Agreement in case of a newly incorporated LLP and for providing the information regarding changes in the LLP Agreement in case of an existing LLP. This form is required to be filed within 30 days of incorporation of Limited Liability Partnership or within 30 days of passing the resolution for Modification in LLP Agreement. LLP Agreement is required to be executed before filing Form 3 as it is a mandatory attachment. The LLP Agreement shall be printed on a stamp paper of prescribed value and notarized.
In case of Initial LLP agreement fields 2, 3, 4 and Part A are required to be filled.
In case of Change in LLP Agreement, fields 2, 3, 4 and Part B are required to be filled.
Contents of LLP Form No. 3
The form shall be digitally signed by a Designated Partner mentioning his/her DPIN.
Due date of filing of LLP FORM No. 3.
After the execution of LLP Agreement Form No. 3 shall be filed with MCA within 30 days of incorporation of LLP. Non-filing of Form 3 attracts penalty which is Rs.100 per day and there is no maximum limit prescribed under law. Therefore, the maximum penalty can be the no. of days beyond 30 days multiplied by Rs.100.
Stamp Duty on LLP Agreement
Stamp duty is a state subject as per the Constitution of India. Therefore, stamp duty varies state to state.