Conversion of Partnership Firm into a LLP
998399
*The price is exclusive of any amount payable to Government/Regulatory Authorities and GST.
Services covered :
- Drafting Partnership Deed
- LLP Incorporation
- DIN Application for all Partners
- PAN and TAN Application
- GST Registration
- PT Registration for company incorporated in Maharashtra
Documents Required :
- PAN Card
- PAN Card Of Shareholders And Directors. Foreign Nationals Must Provide A Passport.
- Identity Proof
- Voter ID/ Passport/ Driving License Of Shareholders And Directors
- Address Proof
- Telephone Bill /Electricity Bill/ Latest Bank Account Statement Of Shareholders And Directors
- Photograph
- Latest Passport Size Photograph Of Shareholders And Directors
- Business Address Proof
- Latest Electricity Bill/ Telephone Bill Of The Registered Office Address
- Financial Statements
- Duly Certified Copy Of Latest Audited Financial Statements
- Copy Of ITR
- A Copy Of Latest Income Tax Return Filed By The Partnership Firm.
- Partnership Deed
- Copy Of Partnership Deed To Be Provided
FAQ ()
Question :
What are the Minimum Requirements for the Conversion of Partnership into LLP?
Answer :
A Partnership Firm needs to consist of the same number of partners that were present in the original Partnership.
Question :
Is it compulsory for a Partnership Firm to have the same number of members at the time of Conversion?
Answer :
Yes, it is compulsory for a Partnership Firm to have the same number of partners at the time of Conversion.
Question :
How to Reserve a name for the LLP?
Answer :
The partners of a firm can reserve an LLP name by filing an online form. According to law, partners can give a maximum of six names in a preferential order to reserve anyone. The Registrar may also ask to re-submit the application with a different name. The same is possible when the given name does not fall under the ambit of uniqueness, relevancy, etc.
Question :
What is the Minimum Capital Requirement for LLP Registration?
Answer :
No, there is no minimum amount specified to form an LLP.
Question :
What will be the treatment for the capital contributed by the partners?
Answer :
The amount contributed by each designated partner will be disclosed in an LLP Agreement.
Answer :
The term DIN stands for Director Identification Number. It is a unique number allotted by the MCA to Individuals on the application made which permits an individual to be a Director in a Company or LLP.
Question :
Is DPIN required for LLP Registration?
Answer :
The concept of DPIN or Designated Partner Identification Number does not exist anymore regarding the incorporation of LLP.
Question :
What are the Prerequisites to be a partner for LLP Incorporation?
Answer :
All the partners of an LLP must be above 18 years and competent to enter into a contract. Also, all the proposed Designated Partners must have DIN.
Question :
What are the restrictions imposed regarding the Citizenship of a Designated Partner?
Answer :
There are no restrictions regarding the citizenship or residency of a Partner. That means Foreign Nationals, Foreign Companies and LLPs can incorporate an LLP in India. However, they must have at least one Designated Partner as the resident of India.
Question :
What is a Limited Liability Partnership Agreement?
Answer :
An LLP Agreement is an agreement executed by all the partners after the Incorporation of an LLP. This agreement specifies all the clauses concerning business; including the role, rights, duties, and obligation of partners.
Question :
Is there a need to file LLP Agreement with the MCA?
Answer :
An LLP agreement must be filed within thirty days of the issuance of a Certificate of Incorporation. However, in case of failure, an additional fee of Rs 100 per day will be charged until the date of filing.
Question :
Can the same name be used for the Newly Incorporated LLP?
Answer :
The basic aim behind any conversion is to maintain the brand identity in the Market. For incorporating an LLP under the original name, it is necessary to attach a valid proof. The term valid proof denotes a document that corroborates the claim of use of the brand name by the firm.
Question :
Who is authorised to register an LLP and Partnership Firm in India?
Answer :
The Ministry of Corporate Affairs (MCA) is responsible for registering an LLP firm in India. In contrast, the Registrar of Firms (ROF) is authorised to register a Partnership Firm.
Question :
Can an LLP have less partners than the actual Partnership Firm?
Answer :
No, an LLP cannot have more or less partners than the actual Partnership Firm.
Question :
When can an LLP change the number of its partners?
Testimonials
Tushar
Extremely delightful for the services provided by you, thanks a lot in filling my return in short time.
Bijoy
Must take a moment to recognise and appreciate Yash who was managing my papers . He is a diligent and patient guy but on the same hand also persuasive . Appreciate these traits . Wish him all the best .
Anuradha
I used to previously file my ITR through a professional, but I never understood why am I paying interest in my ITR even though I had filed my returns before due date. So, I went to AJVA for Tax Consultation they explained to me why I am paying interest and guided me on the Advance Tax concept and now I give them the required estimation of income and pay advance tax. It has helped me save a lot of money and avoid interest.
Shashank
I wished to file my ITR at minimal cost, so I was convinced to file it by myself. During filing I came across a lot of queries but ignored it as didn’t seem much important. However, I received a notice from IT department as I had filed a defective return. To resolve this, I contacted AJVA, they not only resolved the issue but also guided me on how to file and where I went wrong.
Shweta Jain
I run an MSME but I was unaware what is the importance of Udyam Registration Certificate and the process, after consulting AJVA I learned that it is an identity certificate which is mandatory for all MSME’s for recognition. Thankfully I registered as a MSME in time with the help of AJVA and appreciate the co-ordination from the AJVA team.
Kalpa Chhajed
I had started a new business but I had a lot of queries on how to Incorporate a company, where to apply, what documents are required and lot of other questions. The procedure was complicated and a time taking activity, I was hesitant to hire a professional for the incorporation process. Thankfully I found AJVA and they handled the entire Incorporation process and helped me complete the same in a timely manner.
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