left
  divider divider divider divider divider divider divider divider divider  
right
CA in Delhi
An ISO 9001 : 2008 Certified Company
 
Bookmark and Share

Saturday, November 17, 2018

left
  divider divider divider divider divider divider divider divider divider divider divider  
right
empty row
top left corner white cell top right corner
white
services overview
empty cell
white cell
bottom left corner white cell bottom right corner
 
  latest news heading 12 Jul, 2014 E-filing facility for tax returns suspended Amendment in Tax Audit report Form 3CD E-filing .....  
quick menu
gradient   updates Located in the southern peninsula of the Asian continent, India is the seventh largest and second most populous country ...
 
 
 
 
corner back corner
services
XBRL Data Conversion Services
Value Added Tax (VAT)
SSI Registration Services
Outsourcing Services
Virtual Office Facility
Deed, Agreement & MoU drafting
Income Tax Services
TIN Facilitation Services
Insurance Consultancy
 
corner corner corner
box shadow
corner back corner
services overview
empty cell
Business set up in India
Entry Strategy
Growth Strategy
Diversification Strategy
Internal Audits
Management Audits
Sox Audits & Clause 49
Due diligence audit
Service Tax Procedure & Refund
Service Tax Registration
Central Excise Consultancy
Central Excise Registration
Deemed Exports
DGFT Consultancy
Duty Exemption Scheme
EPCG Export Promotion Capital Goods
Foreign Trade Consultants
Import Duty Calculator
Import Export Registration
Project Imports
Promotional Measures for Exports
Registration for Import/Export
Special Addition Duty
Copyright Services
Design Registration
Intellectual Property Right Services
Patents Registration
Trade Mark Registration
Bank Guarantee Advisory
CIBIL Report
External Commercial Borrowing Advisory Services
Finance Project Report Service
Lease Rental Discounting Consulting Services
Letter of Credit Consulting Services
Loan Against Property Mortgage Consultancy Services
Private Equity Funding Advisory
Project Finance Services
Trade Finance Advisory Services
Unsecured Business Loan
Working Capital Financing Advisory Services
LLP Consulting Services
LLP Registration Services
Amalgamation Services
Business Process Re-Engineering
Due Diligence
Financial Structuring & Restructuring
Joint Venture Consultancy
Mergers and Acquisition Advisory
Company Registration Service
Company Secretarial Retainership Service
Legal Compliance Audit
Ready-made (Shelf) Company Service
Foreign Exchange Management Act Value Added Tax (VAT) SSI Registration Services Unit in SEZ/ STPI Transfer Pricing Outsourcing Services Virtual Office Facility Deed, Agreement & MoU drafting Accounting & Controlling
Asset Utilization & Technology
Continuous Improvement
Knowledge Management
Lean Management
Maintenence
Management
Manufacturing
Marketing & Sales
Organization
Performance Management
Planning
Purchasing
R&D and New Technology
Relation Management
Shared Service Center
Single Business Entity
Supply Chain
Turnover
Project & Working Capital Financing
Management Information System
Business Process Re-engineering
Service Tax
International Taxation
Income Tax
12A Registration of NGO
35(1)(II) & 35(1)(III) Registration
35AC Registration
80G Registration
FCRA Registration
NGO Registration in India
empty cell
corner corner corner
box shadow
corner back corner
login
empty cell
white back
   
Email  
  Password  
   
Register   |  Forget Password
empty cell
corner corner corner
box shadow
corner back corner
services overview
empty cell
*Name:
*Email:
Mobile:
Message:
Enter the code shown
Enter the code shown
  
empty cell
corner corner corner
box shadow
 
Limited Liability Partnerships
 
Limited Liability Partnerships (LLP) Conversion Services
A. CONVERT PUBLIC COMPANY TO LIMITED LIABILITY PARTNERSHIP
Why should you convert to LLP?
 
audit
 
Limited Liability concept combines the organizational flexibility of a partnership firm coupled with the advantage of limited liability for its partners. The key features of the LLP such as a separate legal entity with unlimited number of partners, no partner being liable on account of the independent or unauthorized actions of other partner(s), liability of partners being limited to the respective stake of each partner in the LLP, are a distinct advantage over other form of organization.
Such distinct features would be the key drivers for forming LLP, rather than Company for planning different structures.
Another major reason for conversion of a company into an LLP is on the tax front. Currently, the Income-tax Act, 1961, provides for payment of minimum alternate tax (MAT) as also for payment of dividend distribution tax (DDT) by companies. An LLP, which is not a company, is not liable to pay DDT, considering the legislative intent.
Major advantages as compared to Company
bullet No need of converting into Public Company to have members more than 50 ,a s there is no limit on maximum number of partners
bullet No requirement of appointing any Managing Director or Company Secretary
bullet Minimal Government Intervention
bullet Minimal cost of conversion
bullet Less Compliance level
bullet No requirement of holding any meeting
bullet No requirement of maintenance of Large statutory records
bullet Limited Liability as in case of Companies
bullet No need to pay large fees for increasing the contribution , as required in case of capital
bullet LLP is also not liable to pay dividend distribution tax (DDT)
Status on conversion.
It is essential to note that on conversion, all the members of the Company shall become the partners of the LLP. It is provided that no other person would become partner on conversion into an LLP for the simple reason that on conversion, it should be a mirror image.
On conversion, all the tangible (movable and immovable) property and the intangible property, all assets, interest, rights, privileges, liabilities, obligations of the Company shall stand transferred to, and vest in, the LLP. Also, the Company so converted into an LLP shall cease to exist upon conversion.
Steps of convert public company to limited liability partnership
LLP
LLP
 
corner back corner
corner corner corner
box shadow
corner back corner
We are the exclusive member in India of the Association of International Tax Consultants, an association of independent professional firms represented throughout Europe, US, Canada, South Africa, Australia and Asia.
corner corner corner
box shadow
corner back corner
corner corner corner
box shadow
corner back corner
services overview
empty cell
empty cell
corner corner corner
box shadow
corner back corner
services overview
empty cell
empty cell
corner corner corner
box shadow
 
 
B. CONVERT PRIVATE INTO LIMITED LIABILITY PARTNERSHIP
Why should you convert to LLP?
Limited Liability concept combines the organizational flexibility of a partnership firm coupled with the advantage of limited liability for its partners. The key features of the LLP such as a separate legal entity with unlimited number of partners, no partner being liable on account of the independent or unauthorized actions of other partner(s), liability of partners being limited to the respective stake of each partner in the LLP, are a distinct advantage over other form of organization.
Such distinct features would be the key drivers for forming LLP, rather than Company for planning different structures.
Another major reason for conversion of a company into an LLP is on the tax front. Currently, the Income-tax Act, 1961, provides for payment of minimum alternate tax (MAT) as also for payment of dividend distribution tax (DDT) by companies. An LLP, which is not a company, is not liable to pay DDT, considering the legislative intent.
Major advantages as compared to Company
bullet No need of converting into Public Company to have members more than 50 ,a s there is no limit on maximum number of partners
bullet Minimal Government Intervention
bullet Minimal cost of conversion
bullet Less Compliance level
bullet No requirement of holding any meeting
bullet No requirement of maintenance of Large statutory records
bullet Limited Liability as in case of Companies
bullet No need to pay large fees for increasing the contribution , as required in case of capital
bullet LLP is also not liable to pay dividend distribution tax (DDT)
Status on conversion.
It is essential to note that on conversion, all the members of the Company shall become the partners of the LLP. It is provided that no other person would become partner on conversion into an LLP for the simple reason that on conversion, it should be a mirror image. On conversion, all the tangible (movable and immovable) property and the intangible property, all assets, interest, rights, privileges, liabilities, obligations of the Company shall stand transferred to, and vest in, the LLP. Also, the Company so converted into an LLP shall cease to exist upon conversion.
Steps of convert private into limited liability paertnership
LLP
LLP
C. CONVERT PARTNERSHIP INTO LIMITED LIABILITY PARTNERSHIP
Why should you convert to LLP?
Limited Liability concept combines the organizational flexibility of a partnership firm coupled with the advantage of limited liability for its partners. The key features of the LLP such as a separate legal entity with unlimited number of partners, no partner being liable on account of the independent or unauthorized actions of other partner(s), liability of partners being limited to the respective stake of each partner in the LLP, are a distinct advantage over other form of organization.
Such distinct features would be the key drivers for forming LLP, rather than, partnership firm for planning different structures.
The added advantage towards conversion of a partnership firm into an LLP should be tax neutral, as one understands is the legislative intent. This is on the ground that there is no transfer of any assets to a third party on conversion, but an internal reorganization taking place through a statute. Similar reorganizations like conversion of a proprietary/partnership into a company, or registration of a firm as a company under Part IX of the Companies Act, 1956, are treated as tax-free, for which there exists legislative/judicial precedence.
Major advantages of conversion:
There is no limit to maximum number of partner, therefore gives you opportunity to expand your business
bullet The liability of Partners is limited to the amount which is agreed between the partners to be contributed towards the LLP. If One partner has agreed to pay Rs 10,000, his liability will be limited to Rs 10,000 only.
bullet Partners can decide between themselves as to how the business will be managed.
bullet No exposure to personal assets of the partners
bullet Partner are not agents of other partners.
bullet Business will be recognized by the name of LLP and not individual partners, therefore LLP can create goodwill of its own.
bullet Recognized as body corporate therefore it will be easy to attract finance from market
bullet LLP will be taxed as Partnership firms and therefore no Mat & dividend distribution tax despite of the fact, that LLP is a body corporate.
bullet Ideal for partners , who wish to invest money but are not willing to take part in the management or business
bullet Partners can transfer their right to share profits to anyone else.
bullet Foreign Investment is also allowed , therefore it will be possible to access to foreign expertise.
bullet Partners can decide between themselves as to how the business will be managed.
bullet Partner can enter Joint Ventures with other parties in the name of LLP, which is otherwise not feasible in case of partnerships
bullet Being regulated form of business, LLP will attract investment from PE Firms and other investors.
Status upon conversion.
It is essential to note that on conversion, all the partners of the partnership firm shall become the partners of the LLP. It is provided that no other person would become partner on conversion into an LLP for the simple reason that on conversion, it should be a mirror image.
On conversion, all the tangible (movable and immovable) property and the intangible property, all assets, interest, rights, privileges, liabilities, obligations of the firm/Company shall stand transferred to, and vest in, the LLP. Also, the firm so converted into an LLP shall cease to exist upon conversion.
Liability of the Partners after conversion
Every partner of the partnership firm that is converted into an LLP shall continue to be personally liable (jointly and severally) for the liabilities and obligations of the partnership which were incurred prior to the conversion or which arose before the conversion. Such provisions are not applicable in the case of conversion of a company into an LLP, presumably since liability of shareholders in a company is anyway limited.
Steps of convert partnership into limited liability partnership
LLP
LLP
TAX BENEFITS ON CONVERSION OF COMPANY INTO LLP
On conversion of a Private Limited/ Public Company into Limited Liability Partnership (LLP) various tax benefits are being provided. A LLP can avail numerous tax benefits on its conversion from Private/ Public Company. Some of the benefits to be availed by LLPs are as follows –
bullet Transfer of assets – Both tangible and intangible assets gets transferred from the Public/ Private Company to the newly formed LLPs.
In order to avail the aforesaid exemption, the following conditions under Sec 47(xiiib) should be fulfilled –
All assets and liabilities of the company becomes the assets and liabilities of the LLP.
No consideration other than share in profit and capital contribution in the LLP arises to partners.
A total sales, turnover or gross receipt in the business of the company does not exceed Rs. 6000000 in any of the three preceding years.
All the shareholders of the company becomes partners in the LLP in the same proportion as their shareholding in the Company.
No amount is paid either directly or indirectly to any partner out of the accumulated profit of the company on the date of conversion for a period of 3 years from the date of conversion.
The shareholders of the company continue to be entitled to receive at least 50% of the profits of the LLP for a period of 5 years from the date of conversion.
bullet Business losses – Carry forward and set off of the business losses and unabsorbed depreciation of the predecessor Company is allowed to the successor LLP only if the above mentioned conditions in sec 47(xiiib) have been fulfilled.
bullet Cost of assets – Actual cost of the block of assets of a successor LLP shall be the written down value (W.D.V.) of the block of assets of the predecessor Company on the date of conversion.
bullet Cost of acquisition of Capital Assets – The cost of acquisition of the capital assets for the successor LLP shall be deemed to be the cost for which the predecessor company had acquired such capital asset.
bullet Amortization benefits – If the conditions mentioned above in sec 47(xiiib) are fulfilled, then the benefits of amortization of expenses in relation to Voluntary Retirement Scheme shall be available to the LLP as if no succession has taken place.
bullet No MAT credit – since there is no MAT on LLP, tax credit of the MAT paid by the Company shall not be allowed to the LLP.
bullet Rates of Depreciation – In any year, the aggregate depreciation allowable to the predecessor Company and the successor LLP shall not exceed the depreciation calculated at the rates prescribed as if no conversion has taken place.
bullet Conditions not complied - if the conditions stipulated above are not complied with, the benefit availed by the company shall be deemed to be the profits and gains of the successor LLP chargeable to tax for the previous year in which the requirements are not complied with.
INFORMATION REQUIRED FOR LLP CONVERSION SERVICES
bullet Name of LLP (six suggestions).
bullet Main Object.
bullet Identity Proof, Residence Proof and pan card of Designated Partners.
bullet Names of Partners and Designated Partners, Email id and contact number.
bullet Whether LLP agreement will be executed in India or outside India?
bullet Contribution bifurcation- name of partner and contribution by him.
bullet Other Directorships/ or Partnerships LLP of partners.
bullet Registered Office Address and Registered Office Address Proof.
Form 3 (agreement).
Place where agreed.
Date of Agreement .
Date of ratification.
Business activities to be carried on by the LLP, on incorporation .
Clause relating to resolution of disputes.
Rights and duties of Partners.
LLP Agreement.
bullet Statement of shareholders.
bullet Statement of Assets and Liabilities of the company duly certified as true and correct by the auditor.
bullet List of all the unsecured creditors along with their consent.
bullet Clearance/ No Objection Certificate from Tax Authorities.
bullet Details required for filing of Conversion Application.
Whether any security interest in the assets of the company is subsisting or in force.
Whether up to date Income-tax return is filed under the Income-tax Act, 1961.
Whether any prosecution initiated against or show cause notice received by the company for alleged offences under the Companies Act, 1956.
Whether any proceeding by or against the company is pending in any Court or Tribunal or any other Authority.
Whether any conviction, ruling, order, judgment of any Court, Tribunal or other authority in favour of or against the company is subsisting.
Whether any clearance, approval or permission for conversion of the company/ partnership / unlisted public company into limited liability partnership is required from anybody/ authority. etc
What Rajput Consultancy Services Private Limited Offers
Rajput Consultancy Services Private Limited provide a total Solutions under one roof to its global and national clients to avoid unwarranted hassles, inconvenience, wastage of time, from running from one person to another and so on for .
 Convert public company to limited liability partnership.
 Convert private into limited liability partnership.
 Convert partnership into limited liability partnership.
 
get instant proposal
WHY LLP REGISTRATION | BEST LLP REGISTRATION SERVICE PROVIDER | LLP REGISTRATION IN INDIA | LLP REGISTRATION IN DELHI/NCR | LLP REGISTRATION PROCEDURE | LLP REGISTRATION SERVICE PROVIDER | LLP SERVICES OFFICE IN INDIA | LLP SERVICE AGENCY IN INDIA | LLP SERVICE PROVIDER IN DELHI/NCR/CONNAUGHT PLACE | REQUIREMENT OF LLP REGISTRATION SERVICE PROVIDER IN DELHI | LLP REGISTRATION SERVICE ROVIDER CHARTERED ACCOUNTANT | LLP REGISTRATION SERVICES ROVIDER CHARTERED ACCOUNTANT FIRMIN DELHI | REQUIREMENT OF LLP REGISTRATION ADVISORY PROVIDER CA FIRM | LLP REGISTRATION CONSULTANTS | REQUIREMENT OF LLP REGISTRATION ADVISORY FIRMS DELHI | REQUIREMENT OF LLP REGISTRATION SERVICES PROVIDER IN INDIA | PRACTICING CHARTERED ACCOUNTANTS SERVICES PROVIDER ON LLP REGISTRATION SERVICE IN DELHI | LLP REGISTRATION SERVICES CHARTERED ACCOUNTANTS FIRM IN INDIA/DELHI/CP |
 
 
 
 

 
Tax Complience Calender
<November 2018>
SunMonTueWedThuFriSat
28293031123
45678910
11121314151617
18192021222324
2526272829301
2345678
 
corner back corner
services overview
empty cell
empty cell
corner corner corner
box shadow
 
 
   
white cell white cell white cell
 
 
Policy
about us
about us
about us
about us
about us
Contact Us
about us
about us
Franchise
about us
about us
Support
about us
about us
about us
about us
about us
Take The Action
about us
about us
about us
about us
about us
Others
about us
about us
about us
about us
about us
Follow Us On
about us
about us
about us
about us
about us
Quick Contact
about us
about us
about us
 
 
white cell white cell white cell
  Sitemap Web Site Hit Counters