The Partnership firms enjoys the benefit of being more than 1 person entity, having the mutual understanding between the partners regarding the management of the firm, compliances made under the Income Tax Act. However, in order to flourish the business to the next level, there is a need to change the legal status from the Partnership firm to the Private Limited Company.
Benefits of conversion from Partnership Firms to Private Limited Company
Documents required for Conversion
Self-attested copy of PAN Card of the Shareholders and Directors. In case of Foreign nationals, a valid passport is required.
Self-attested copy of Identity proof of the Shareholders and Directors (Aadhar card, Driving Licence, Voter ID, Passport)
Self-attested copy of Address proof of the Shareholders and Directors (Latest electricity bill / telephone bill / bank statements)
Latest photographs of Shareholders and Directors.
Address proof of Registered business premises (Latest electricity bill / telephone bill)
Rent agreement in case the premises is leased or rented.
NOC from the owner of the property.