Convert Partnership into LLP Company

Transforming a traditional partnership into a Limited Liability Partnership (LLP) offers numerous advantages, including limited liability protection, enhanced credibility, and a modernized business structure compliant with regulatory norms. With Accotale’s expert services, converting your partnership into an LLP is simple, compliant, and professionally managed from start to finish.

Our Services

All Inclusive Service-Inclusive of Government Fees

^₹ 6999

PAN Registration
TAN Registration
Includes ESI & PF Registration
Inclusive of GST Registration
Free 6 month of TDS Return Filing
Also includes Share Certificate

Active Plan

Overview- Partnership into LLP Company

Converting a partnership firm to an LLP helps combine the flexibility of a partnership with the advantages of a company structure. LLPs are separate legal entities that offer partners limited liability protection, meaning personal assets are protected against business liabilities. Additionally, LLPs allow for operational flexibility, are easier to dissolve or wind up, and increase business credibility by aligning with regulatory standards.

Tax Efficiency LLPs can take advantage of specific tax benefits, reducing the overall tax burden.

Eligibility Requirements

Approval of All Partners
All existing partners must agree to convert the partnership to an LLP.

Existing Compliance Records
The partnership should have up-to-date tax filings, bank statements, and financial records.

Minimum Partner Requirement
At least two designated partners are required, and at least one must be an Indian resident.

Digital Signature Certificates (DSCs)
Designated partners must have valid DSCs for document verification.

Why Choose Accotale?

Dedicated Expert Support: Our team provides personalized support, guiding you through each conversion step.

Comprehensive Documentation Management: We handle all documentation, form submissions, and required compliance reports.

Transparency and Compliance: We ensure that every step of the process is fully compliant with MCA regulations, reducing any potential legal hurdles.

Documents Required

Partnership Agreement

and proof of business address

Partners’ Consent

A signed consent form from all partners approving the conversion

Partners’ Identification Documents

PAN card, Aadhaar, and address proofs of all partners

No Objection Certificate (NOC)

If applicable, from any lending institution or creditor

Digital Signature Certificate (DSC)

For all designated partners

Other Financial Records

Balance sheets, ITR filings, and bank statements

Step-by-Step Conversion Process

Step 1: Obtain Partners’ Consent and Execute Partnership Agreement

Gather consent from all partners to convert the partnership firm into an LLP.

Step 2: Apply for DSCs for Designated Partners

The designated partners must obtain DSCs to sign electronic documents.

Step 3: Obtain a Director Identification Number (DIN)

Designated partners apply for a DIN, required for LLP registration.

Step 4: Submit Conversion Application

Accotale files Form 17 (application and statement) and Form 2 (incorporation document) to the Ministry of Corporate Affairs (MCA) for LLP formation.

Step 5: Execute the LLP Agreement

Once approval is obtained, execute the LLP Agreement within 30 days of receiving the Certificate of Incorporation.

Step 6: Register for Compliance and Obtain New Tax Identifications

Post-Conversion Compliance and Services

Annual Filing Support:
Assistance with LLP Form 8 (Statement of Account & Solvency) and Form 11 (Annual Return).

Compliance Audits:
Regular compliance audits to meet MCA requirements.

Tax Consultation and Filing:
Assistance with tax filings, including GST and income tax returns.

FAQ

FAQ's on

Producer Company Registration

What is an LLP, and why should I convert my partnership into one?

An LLP, or Limited Liability Partnership, is a hybrid business structure that offers the flexibility of a partnership and the liability protection of a corporation. Converting your partnership to an LLP limits personal liability for business debts and enhances credibility with clients, making it a popular choice for growth-oriented firms.

Do I need to obtain new licenses and registrations for the LLP?

Yes, after conversion, you may need to update or obtain new tax registrations like GST, PAN, and TAN under the LLP’s name, as it will be a separate legal entity.

Is the conversion process legally complex?

While the process requires multiple steps and documentation, Accotale can simplify and manage the entire process for you, ensuring all legal and compliance aspects are covered efficiently.

How long does the partnership-to-LLP conversion process take?

The process typically takes 2–3 weeks, depending on document readiness and approval timelines from the Ministry of Corporate Affairs (MCA).

Will my tax structure change after converting to an LLP?

Yes, an LLP’s tax structure is different from that of a partnership. LLPs are taxed as separate entities, with partners receiving post-tax profits, and they can also avail specific deductions. Accotale provides tax consultation services to help you understand and benefit from the LLP tax structure.

Testimonials

What Our Clients Says

Working with ACCOTALE ADVISORY PRIVATE LIMITED has been a game-changer for our business. Their expertise in financial structuring and tax consultancy has helped us optimize our operations and maximize our profits.The team is incredibly knowledgeable and always available to address our concerns.

The level of professionalism and attention to detail at ACCOTALE ADVISORY PRIVATE LIMITED is unmatched. Their accounting services have provided us with clear and accurate financial insights, allowing us to make informed decisions with confidence.

ACCOTALE's advisory services have been instrumental in guiding our financial strategy. Their deep understanding of the market and personalized approach made a significant difference in our growth trajectory. Their team truly goes above and beyond to ensure our success.