Private Limited into LLP

A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence.

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WHAT IS LLP?

A new trend that has been observed of-late is that more and more entreprenuers have started opting for Limited Liability Partnerships. LLP is the limited personal liability provided to each of the partners. Generally speaking, each partner’s personal liability for another partner’s acts is limited to the partnership’s assets. In most states, a partner can’t lose more than his or her investment for something another partner does.

WHY CONVERT PROPRIETORSHIP INTO LLP?

By converting a partnership firm into LLP, partners will be able to enjoy the benefits which LLP offers such as limited liability, separate identity for the entity, unlimited partners etc. LLP is Ideal for – Entrepreneurs who want a Separate Legal Entity with Limited Liability and Perpetual Succession. Entrepreneurs who DO NOT wish to raise Venture Capital, Seed or Angel Funding.

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praveenatax.com is web portal of Govche India Private Limited with operations since 2010. praveenatax.com is one stop business setup and consulting company, managed by specialized team of Business Analysts,Company Secretaries, Chartered Accountants, Corporate Lawyers and Financial Professionals company headquartered in Chennai, India. Having known for our quality of services, delivering the projects on time, we have clients spread across the globe

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INCOME TAX

We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues.

BUSINESS LICENSES

Our Professionals Will help you in getting your business licensesand Business
licenses necessary for smooth running of businesses.

FINANCIAL SERVICES

we will Provide Funds for both personal and Business. Our funding system gives a credit line facility, enabling you to expand your business to new heights.

GST RETURNS

We will make your business to GST Compliance. Returns are required to be filed digitally online through a common portal to be provided by GSTN.

WHAT IS THE PROCEDURE FOR LLP CONVERSION?

  • All the partners are required to get DPIN(Designated Partner Identification Number). DIN can be used if a partners possesses DIN.
  • Digital Signature Certificate should be obtained and should be registered with the LLP Application.
  • Name approval should be obtained from Ministry of Corporate Affairs Application.
  • Application for conversion has to be made in E-form 17 along with necessary documents.
  • Once certificate of registration of LLP is issued, concerned LLP shall within 15 days from the date of registration inform the concerned Registrar of Firms with whom the erstwhile firm was registered about such conversion to that line of business.

WHAT INCLUDES IN THIS PACKAGE?

  • Verification of Documents
  • Applying DPIN and DSC for the partners
  • File LLP Agreement
  • Incorporation Certificate will be delivered

FAQS

The approved name of LLP shall be valid for a period of 3 months from the date of approval.

The accumulated loss and unabsorbed depreciation of firm is deemed to be loss/depreciation of the successor LLP for the previous year in which conversion was effected. Thus such loss can be carried for further eight years in the hands of the successor LLP.