Easy and seamless transition of your partnership firm to a private Limited company
#Govt. fees additional as per actuals
Features
What's Included
Registering a Convert from LLP to Private Limited Company is quick, easy and can be done online with TAXOUTLOOK in 3 Simple Steps
Our experts provide you all the information needed
You share us all the relevant documents
Relax!!We will get the things done
Many businesses started with a LLP entity may wish to convert it into a Private Limited company. A private limited company offers much more flexibility in capital raising , reputation and ease of operation. Typically, as a business grows, the compliance filings and the corresponding costs of LLP become more or less equal to a private limited company. Therefore, to suit the business requirements, coneversion of LLP into Private Limited company becomes a logical process.
An LLP can be converted in to Private Limited company under section 366 of the Companies Act,2013 and ‘Company (Authorized to Register) Rules, 2014’. Under this services, we use direct conversion of existing LLP to a private limited company method.
Benefits The advantages of conversion of LLP in to private limited company are as below. Capital Funding It becomes easier to raise capital funding under the private limited company as it offers flexibility. In the case of LLP, capital can be brought in by partners only. Whereas, in a private limited company, capital funding can be obtained from any person. The best choice of investors is a private Limited company. FDI A Private Limited company does not require FDI approval under the automatic route. Whereas a LLP requires approval from the Government. Again, Foreign Direct investment is an important criteria for growing business to manage its capital needs. Method There are two different methods to convert a LLP into a Private Limited company. 1. New Company Formation: Incorporate and new private limited company and takeover the existing LLP business by a written business transfer agreement. However, Capital gains tax (Income tax) and Stamp duty is applicable for transfer of assets from LLP to private limited company. 2. Conversion of LLP into Private Limited Company: In this method, the existing LLP is converted into a private limited company. More on this method is elaborated in subsequent sections.
1. Consent from all the partners for conversion.
2. Advertisement in one local and national newspaper..
3. NOC from ROC where such LLP is registered.
4. NOC from all the secured creditors of the LLP.
5. Undertaking from the proposed Directors that they will comply with the requirements of Indian Stamp Act,1899 as applicable.
6. A copy of the latest income tax returns filed.
7. KYC documents of the Partners
Our compliance expert will be in touch with the documents. Once you share these documents, we will complete the filings of necessary forms with RoC.
1. Hold a meeting of partners to take assent of the majority of members summoned for the purpose of registering the LLP and apply for name approval.
2. Apply for DSC and DIN for the partners.
3. File form URC-1 with the below documents for Registration as Private Limited Company.
You don’t have to worry about the above process as our Compliance experts will help you in getting the company registration smoothly, quickly and hassle-free
Compared to LLP, for future funding requirements and better credibility, Private limited Company is better. In case of LLP, only a partner can bring in Capital. In case of a company, a shareholder and director are different and hence, any number of shareholders can be accommodated, while the management lies with the promoters.
Benevolence Engineers Taxoutlook has been extensively supporting us in our GST and Income tax compliance. We greatly appreciate their team for their amazing support
Experienzing Consulting Solutions LLP My relationship with Taxoutlook and Team has been excelled and all our tax related matters are handled very well. Am so lucky to have such a good team who are well versed in the field.
Benevolence Engineers Taxoutlook has been extensively supporting us in our GST and Income tax compliance. We greatly appreciate their team for their amazing support
Viha Sound Productions LLP My relationship with Taxoutlook and Team has been excelled and all our tax related matters are handled very well. Am so lucky to have such a good team who are well versed in the field.
From Registering your business to Managing your compliances , You get all the required support in one place.
We PARTNER with clients and provide continued support for your compliance needs with our dedicated in-house experts.
We ensure 100% accurate filings. This is made possible through our second level in-house audit team.
Every Client and work is different. We understand this perfectly, and therefore we follow a fit to purpose approach.
Trust is our strength and with every client placing faith on us. We scale even greater heights together.
We ensure reasonable pricing to ensure Quality Services
