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Pvt. Ltd. Company To LLP

20450* Basic Package

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Overview

Turn into much convenient business model keeping the challenging business compliances
Turning a private company to LLP

LLP model is advantageous for both the partnership, as well as the companies. Hence, upon turning the company to LLP, the business enjoys significant functional flexibility. The feature of being a distinct legal body and limited liability remains identical. Additionally, the functionality and management remain direct responsibility of the LLP partners, not like Private Company, where it remains in the hand of the director.

LLP is administered by the LLP Agreement implemented by the Partners. It holds nominal compliance needs and is simpler to operate. It reserves the advantages of a partnership upon ensuring safety and credibility to the company. Process of turning Private Limited to LLP should be followed by approval of the Ministry through digital application fulfilling requisite documents.

Advantages

Advantages and returns to partners

Associated partners of the LLP get several returns, ranging from remuneration, extent of profit associated, and the applicable interest on capital. Payment is made for direct involvement of the partners, whereas the profit share is part of profit made through business operation.

Independent liability

No partner is responsible regarding the illicit deeds of the partners. Hence, sole partners are protected from a load of mutual liability generated through the wrong business decision and misconduct.

Nominal Statutory Compliance

Requisite compliances that are essential to be fulfilled are nominal in comparison to Pvt Ltd companies. An LLP is not essential to keep statutory records and to maintain registers. The needs of statutory audit are exempted as well for LLP.

Functional Flexibility

The partners are straightaway involved with the regular functionality and management of the companies. On the other hand, LLP is administered through LLP agreement that is implemented by the partners with accord from both parties.

Document Required

The creation of a partnership firm has to follow the New GST Registration conditions and obtain the PAN, bank accounts, and GST registration accounts of the partnership firm. The foremost document that seals a partnership is a ‘Partnership Deed.’ The Partnership Deed provides specifications for all the terms and conditions that are enforced in the partnership. After preparing the partnership deed, the taxpayer must apply for a PAN number with the income tax department because it is a mandatory prerequisite for applying for registration under GST. In addition, you would need the following documents for incorporating a partnership.

NOC
  • It is essential to possess consent of directors and those with a share of the venture for conversion in desired format.
Acknowledgment from tax authorities
  • It is essential to obtain NOC from tax authorities.
Approval from creditor
  • Detail of the entire secured creditors through their consent.
Financial Statements
  • Along ITR filed a financial statement of earlier years must be provided.
Digital Signature Certificate
  • Digital signature Certificate of entire director
  • Documents of Pvt. Ltd. Company
  • PAN card, certificate of incorporation, GST registration, or any other documents/registrations that are applied.

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

20450*
  • Expert Consultation
  • 2 DPIN Application (if DPIN of directors are not available)
  • 2 DSC token
  • LLP Deed / Agreement
  • Capital / Contribution Rs. 1 Lakh
  • Incorporation Fee and Stamp Duty Fee
  • Registration with MSME
  • Conversion Process

Business

22950*
  • Expert Consultation
  • 2 DPIN Application (if DPIN of directors are not available)
  • 2 DSC token
  • LLP Deed / Agreement
  • Capital / Contribution Rs. 1 Lakh
  • Incorporation Fee and Stamp Duty Fee
  • Registration with GST
  • Registration with MSME
  • 3 months GST return filing upto 50 invoice per month
  • Conversion Process

Enterprise

25450*
  • Expert Consultation
  • 2 DPIN Application (if DPIN of directors are not available)
  • 2 DSC token
  • LLP Deed / Agreement
  • Capital / Contribution Rs. 1 Lakh
  • Incorporation Fee and Stamp Duty Fee
  • Registration with GST
  • Registration with MSME
  • ESI and PF Registration
  • 3 months GST return filing upto 50 invoice per month
  • 3 months account upto 75 entries per month
  • 10 MOA / AOA
  • Conversion Process
  • Note:
  • * This price is inclusive of all Govt filing fee and excluding GST amount.
  • Capital / Contribution more than Rs. 1 Lakh, additional fee required as per the specific state law.

FAQ's

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