LIMITED LIABILITY PARTNERSHIP
LLP is a unique form of legally recognized corporate entity, which integrates the features of both the limited corporations and the traditional partnership firms. As it is a unique Hybrid Combination of both Company and Partnership, this LLP is especially suitable for small to medium-sized business enterprises and professionals particularly
STEPS Conversion of Company to Limited Liability Partnership
- Obtain DIN No of all proposed Designated Partner/ Partner.
DIN Application Procedure
- Self attested Pan Card
- Self attested Address Proof
- Same is to be attached in DIN Form after attestation of Professional.
- DSC of the applicant as well as Professional is required to be attached.
- Form 1 is to be filed first for Conversion of Company into LLP
Attachment of Form 1:
- Board Resolution for conversion is to be attached
- We shall receive the Name Approval Certificate once the form is approved of the same.
- Form 18 & 2 is required to be filed under Linked Form.
Attachment of Form 18
- Consent of Shareholders
- Annual set of Accounts not older then 30 days from date of filing.
- Latest Acknowledgment of ITR Return
- Declaration stating that Company shall not borrow funds as per RBI Act, SEBI Act and Companies Act, 2013 until Company gets converted into llp.
Attachment of Form 2
- Address Proof not older then 2 months.
- NOC from the Owner of Premises to use the premises as Registered office Address Proof
- Subscribers Sheet (Hand written)
- We shall receive the Certificate of Incorporation with the approval of Form 18 & 2.
- Filing Form 3 is the last Form for Conversion of Company into LLP
Attachment of Form 3:
- LLP Agreement.
- With this the Process of Conversion from Company to LLP is completed.
- Audit is required if Turnover is above 40 Lacs or Contribution is more than 25 Lacs
- Two Annual Form has to be filed i.e.
- Form 8 (Annual set of Accounts)
- Form 11(Annual Return)
- No Registers are required to be maintained.
- Minimum 2 designated partner are required.
Note: It may be noted that it has been clarified by the Ministry of Corporate Affairs that a HUF or its Karta cannot become partner or designated partner in LLP.