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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 "The Account Masters" will Help you for Conversion of Partnership to Private Limited Company Registration Process?
The Account Masters 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.