Partnership firms mainly go for private limited status as it provides separate legal entity, perpetual succession and limited liability. Such conversion increases the credibility of business. Although as companies, entities do have to make higher compliances in adherence to company law norms but still they move from status of partnership to private limited as it provides new expansion prospects and easy access to funds.
Documents required for Conversion
- Consent from all partners for dissolution
- No-objection certificate from all partners
- Partnership Deed
- Copy of Newspaper advertisement
- Photograph of all shareholders and directors
- PAN Card copy of all shareholders and directors
- Identity Proof copy of all shareholders and directors
- Address Proof copy of all shareholders and directors
- List of members with name, address and share held
- Active DIN and Digital Signature of proposed director
- MOA, AOA and Declarations from proposed directors
- Address Proof copy of registered office
- List of all the creditors along with their consent
- No-objection certificate from tax authorities
- Duly certified accounts statement of firm
E-tax Conversion Service Covers:
- Advisory in relation to conversion
- Organizing the required meetings
- Obtaining approval for company name
- Securing DIN and DSC of proposed directors
- Formulation of memorandum and articles
- Preparation of relevant documents
- Obtaining fresh Pan Card of company
- Filing of necessary e-forms with ROC
- Issuance of Certificate of Incorporation
- Guidance over finance and taxation matters
- Support for compliance of legislative norms