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Conversion of Partnership Firm to Private Limited Company
What is Partnership Firm to Private Limited Company Registration Process?
Partnership Firm can be converted into a Private Limited Company. For the conversion at least 7 Partners are required and at least 3/4 partners should give their consent for the conversion of Partnership Firm into Private Limited Company.
Can a Partnership Firm be converted into a Private Limited Company?
According to the Companies Incorporation Rules 2014 and Companies Act 2013, it is possible to convert a Partnership Firm into a Private Limited Company. For conversion following are the points that should be kept in mind:-1. There should be at least 3/4th majority of Partners and pass a special resolution for the conversion of the partnership firm into Private Limited Company. 2. There should be at least 7 members in the partnership firm for conversion into Private Limited Company. 3. For conversion into a company, there should be at least 7 shareholders and 2 Directors. 4. Directors and Shareholders can be the same person. 5. A firm may be registered with the registrar of the Firms. 6. There must be a provision in the Partnership Agreement to convert it into a Private Limited Company. 7. There should be a written consent provided by the partners to convert the partnership into a company.
Procedure for the conversion of Partnership Firm into a Private Limited Company
Following are the steps which are required to convert a Partnership Firm into Private Limited Company:-
- Certified copy of Partnership deed.
- Certified copy of Balance Sheet of the Partnership Firm.
- Certified copy of the income tax assessment of the Partnership Firm.
- Consent of all the partners stating that they agreed to the conversion process.
- Copy of the resolution passed.
- After attaching these documents, Form INC-1A can be signed by the promoter of the company and the same should be filed.
How "DP Accounting & Taxation Services" will Help you for Conversion of Partnership to Private Limited Company Registration Process?
DP Accounting & Taxation Services will do satisfying Conversion of Partnership to Private Limited Company Registration Process. We are providing Conversion of Partnership to Private Limited Company Registration Services in Ahmedabad, Gujarat, India.
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