Penalty for Post-incorporation Compliance Compliance Minimum Penalty Maximum Penalty Filing of LLP Agreement Rs.100 per day No limit Letterhead Rs.2000 Rs.25000 Regular Compliances Maintaining financial affairs and account This is a fundamental thing to be done where at first the books of accounts are to be maintained each year on cash or accrual basis.
Comparison between traditional partnership and LLP (Limited Liability Partnership) Particulars Partnership LLP Prevailing Law Partnership is prevailed by ‘The Indian Partnership Act, 1932’ LLP (Limited Liability Partnership) are prevailed by ‘The Limited Liability Partnership Act, 2008’ Registration Registration of Partnership is optional; it may or may not be registered.