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Partnership To Pvt Ltd Company

14450* Basic Package

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Overview

Everything one must know about converting Partnership to Pvt. Ltd Company 
Turn Partnership to Private Limited Company

Grow your business strength with greater financing, credibility, and safety upon turning to Pvt. Ltd Company.

Turning Partnership firm to Pvt. Ltd Co

Biggest advantage of registering Pvt Ltd Company is that it gives authentication of distinct legal entities that the partnership houses don’t possess. When it comes to partnership, the personal property of a partner is attached, and they would be made personally liable for every responsibility that the business possesses. Thus, through the expanding business, when a partner wishes for boosting its credibility and keep a certain amount of liability on members, it is more suitable for the partners to turn their partnership to Pvt. Ltd Company. Despite the fact that the statutory compliance for a Pvt Ltd company is greater than the partnership houses, it offers them greater scopes of prospering and widening its reach.

Making a Partnership Deed happen

A partnership agreement is essential to be printed over non-judicial stamp paper that costs 100 INR or above that as per the cost of the property acquired in the partnership company. The agreement made for partnership is mostly made when all the partners are there, and every partner must contain a signed original document for self-purpose. After the document is signed by the partners, it is then gone through, and the signed partnership deed is kept by partners that are duplicated or prepared more number of copies.

Amendment in the registration of Shop and establishments

If any business wants to make any amendments, then they must intimate it to the Inspector in charge. All the businesses have to inform within the prescribed time. Similarly, if any business wants to close the Establishment, they must inform the concerned authority. They have to surrender their registration to cancel it. After reviewing your application, the officer will cancel your registration.

Records that the businesses must maintain under Shop and Establishment Act

According to the Shop and Establishment Act, every business has to obtain permission from the department of labor. They must keep the register up-to-date about all the details. It includes details of employment, fines, deductions, salary, advances, and holidays. This requirement may vary from one state to another. The files about annual holidays and number of employees should be submitted to the municipal corporations every year.            

Advantages

Nominal responsibility on owners

The responsibility of members is confined to a level of capital contribution accepted by the company members. The debt loss of a venture can’t be given to members, even on liquidity. Moreover, a member is not considered responsible for any kind of occurrence of neglect or wrong doing of any associated member.

Distinction of Management team from the proprietorship

The distinct proprietorship and management are useful for both regarding their potential works. The shareholders assign tasks to the directors for managing and operating the venture without missing the hilt through voting.

Distinct legal body

A partnership is not a distinct legal body. In case any of the partner partnerships or takes retirement or simply has to quit the venture, the partnership gets terminated, and hence a fresh partnership is established. However, this is not meant for Pvt Ltd companies. This Pvt. Ltd companies are the distinct legal entity, which is why it enables in suing third parties.

Generating capital

Generating capital is much simpler with Pvt. Ltd companies as it lets the members in taking part without being personally responsible, which is not like the general partnership that the entire associated partners have unreserved liability. The company comes with various modes of fundraising in the form of private equity, ESOP, etc.

Document Required

PAN Card
  • PAN Card is essential for shareholders and Directors. Foreign nationals might have to provide a passport
Proof of identity
  • In this context, Aadhar card, Voter ID, Passport, Driving License of Shareholders and Directors is required.
Proof of address
  • In this context, Telephone Bill/ Electricity Bill/ Latest Bank Account Statement of Shareholders and Directors is essential.
Photograph
  • Most recent passport size photograph of Shareholders and Directors is essential.
Address Proof of concerned business
  • Electricity Bill/ Telephone Bill of the registered office address is essential.
NOC from creditors
  • No Objection Certificate to be obtained from all the secured creditors of the applicant
Existing valid Partnership Deed
  • Existing Partnership Deed containing all partners details.
NOC from partners
  • No Objection Certificate from all the partners for conversion of partnership into Company.
Agreement for rent
  • There should be a rent Agreement of the registered office, if any.
Authentication
  • A copy of Partnership deed and registration certificate thoroughly verified by at least a couple of partners of a general partnership.
Copy of ITR
  • An updated income tax return copy filed by the Partnership firm should be provided.

Time Lines

  • (10 to 15 Days)
  • Purchase the Service
  • Upload / send the Documents
  • Discussion with expert
  • Filing of application with registrar authorities
  • Receipt of Registration Certificate
  • Confirmation to client

Service Covered

Pricing for what you want required service

Basic

14450*
  • Expert Consultation
  • 2 DIN Application (if DIN of directors are not available)
  • 2 DSC token, If required
  • Authorised Capital Rs. 1 Lakh 1
  • Incorporation Fee and Stamp Duty Fee 2
  • ESI and PF Registration
  • PAN and TAN
  • Professional Tax (if applicable)
  • Open a Current Account 3
  • Incorporation Certificate
  • MOA and AOA
  • Conversion Process

Business

16950*
  • Expert Consultation
  • 2 DIN Application (if DIN of directors are not available)
  • 2 DSC token, If required
  • Authorised Capital Rs. 1 Lakh 1
  • Incorporation Fee and Stamp Duty Fee 2
  • ESI and PF Registration
  • PAN and TAN
  • Professional Tax (if applicable)
  • Open a Current Account 3
  • Registration with GST
  • Registration with MSME
  • Share Certificate Hard Copy
  • Incorporation Certificate
  • MOA and AOA
  • Conversion Process

Enterprise

20450*
  • Expert Consultation
  • 2 DIN Application (if DIN of directors are not available)
  • 2 DSC token, If required
  • Authorised Capital Rs. 1 Lakh 1
  • Incorporation Fee and Stamp Duty Fee 2
  • Registration with GST
  • Registration with MSME
  • ESI and PF Registration
  • PAN and TAN
  • Professional Tax (if applicable)
  • Open a Current Account 3
  • Share Certificate Hard Copy
  • Incorporation Certificate
  • Commencement of Business Certificate
  • 3 months GST return filing upto 50 invoice per month
  • 3 months account upto 75 entries per month
  • 10 MOA / AOA
  • Conversion Process
  • Notes:
  • * This price is inclusive of all Govt filing fee and excluding GST amount.
  • 1. Additional authorised capital can be increased any time after paying additional stamp duty and other charges.
  • 2. Stamp duty additional required Rs. 7,500 in case of Madhya Pradesh, Rs. 3,000 in case of Kerala and Rs. 10,000 in case of Punjab state incorporation.
  • 3. Current Account will be choosen as per your preference.

FAQ's

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