LLP to Private Limited Company


Price : 20,000.00

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Many businesses started in India as Limited Liability Partnership (LLP), may now wish to convert into a private limited company for more growth in business or for infusing equity capital. As per Section 366 of the Companies Act, 2013 and Company (Authorised to Register) Rules, 2014 an LLP can be converted into a Private Limited Company. As per section 366 of the Companies Act, 2013, any partnership firm or LLP, cooperative society, or any other business entity which is incorporated under any other law and which has two or more members can get themselves registered as an unlimited company or as a company limited by shares or a company limited by guarantee.

 

LLP is mainly ideal for small or micro businesses that have and will continue to have for a reasonable amount of time, an annual turnover is less than Rs.40 lakhs and a partner’s capital contribution is less than Rs.25 lakhs. LLPs that satisfy the above condition do not require an audit each year, whereas a private limited company irrespective of turnover and capital requires an audit of financial statements – additional cost and compliance. However, if an LLP crosses an annual turnover of Rs.40 lakhs or a capital contribution of more than Rs.25 lakhs, the compliance requirements for LLP and Private Limited Company become almost similar, making the private limited company a better choice. Choosing an appropriate business structure is crucial for any venture’s success, so it is always advisable to seek professional advice specially from practicing company secretaries.

PAN Card

Self attested PAN Card issued by I.T. Department

Aadhar Card

Self attested Aadhar Card issued by UIDAI

Id Proof

Self attested id proof (Voter ID/DL/Passport)

Address Proof

One month Bank statement/ telephone bill

Photographs

A latest passport-size colour photographs

Utility Bill

Latest electricity bill with NOC/ Rent Agreement

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Documents required

PAN Card

Self attested PAN Card issued by I.T. Department

Aadhar Card

Self attested Aadhar Card issued by UIDAI

Id Proof

Self attested id proof (Voter ID/DL/Passport)

Address Proof

One month Bank statement/ telephone bill

Photographs

A latest passport-size colour photographs

Utility Bill

Latest electricity bill with NOC/ Rent Agreement

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