Conversion of Partnership Firm into a Private Company
*The price is exclusive of any amount payable to Government/Regulatory Authorities and GST.
Services covered :
- Name Reservation
- Drafting MOA and AOA
- Company Incorporation
- DIN Application for all Partners
- PAN and TAN Application
- GST Registration
- PT Registration for company incorporated in Maharashtra
Documents Required :
- 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
- Latest Passport Size Photograph Of Shareholders And Directors
- Business Address Proof
- Latest Electricity Bill/ Telephone Bill Of The Registered Office Address
- Duly Certified Copy Of Latest Audited Financial Statements
- A Copy Of Latest Income Tax Return Filed By The Partnership Firm.
- Copy Of Partnership Deed To Be Provided
What are the Benefits of Converting a Partnership firm into a Private Limited Company?
1. Limited liability
2. Separate legal entity
3. Perpetual succession
4. As there would be no restriction to shareholders, raising funds would be easier
5. More Diversification and expansion
Is capital gain or stamp duty charged on conversion?
No Capital Gains tax or stamp duty shall be charged on transfer of property from Partnership firm to a Private Limited Company.
What are the minimum requirements to convert partnership into private limited?
Following are the minimum requirements:
Appointment of minimum 2 directors, out of which one must be a resident of India.
Minimum requirement of 2 shareholders for this registration. Further, an individual may become shareholder and director at the same time.
A place of business in India must be provided as a regd. office address
Can unregistered partnership firm be converted into company?
No, only a registered partnership firm can be converted into company under the companies act,2013.
Do we have to add Private limited after the name of the company?
Yes, it is mandatory to add Private limited after the company name after its incorporation.
Is Registration of company compulsory?
Yes, as without registration no company can be into existence, hence it is mandatory to be registered as a company.
Extremely delightful for the services provided by you, thanks a lot in filling my return in short time.
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 .
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.
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.
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.
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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