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Anonymous

Hey I am on Medial • 11m

Hello all, can someone tell me best way to start an LLP while working a full time job? I aim to start a software consultancy specializing in data engineering and data analytics projects on contract/ad-hoc basis : generating certain revenue to suppo

Anonymous 1

Hey I am on Medial • 11m

When you register your LLP, your PAN details will be tied to the business, but that doesn’t automatically alert your employer unless there’s some tax overlap. Just make sure you’re handling personal and business finances separately to avoid raising f

Anonymous

Hey I am on Medial • 11m

thanks. but company pan will be different right? so in llp it should be seen separately if i am not wrong?

CS Akshay Vernekar

Practicing Company S... • 11m

Yes, LLP is different from individuals. LLP will have it's own PAN independent of its Designated Partners (DP). However when being appointed as the DP you will need DIN which is PAN based. Having said that is you don't derive any remuneration from LLP you don't have to worry about Income Tax except for giving the details of accounts of LLP in Tax Returns. As long as your employer is unaware of how MCA portal works he won't find out the details of the LLP and your association.

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Anonymous

Hey I am on Medial • 11m

thanks a lot Akshay. i work in accenture actually. you can get the picture - so if you can tell me a little that what would be the good way, say i pursue this and how I can derive some "income" funds for my family from the venture i start? can this way also work if I name the LLP under my mother and brother : working silently as the owner/developer in front of the clients and simply they can derive it? later if my venture works fine - can i remove one of them as partner and work as one of the main person?

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Hey I am on Medial • 8m

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