Yes, a registered partnership firm can be converted into a Private Limited Company under the Companies Act, 2013 by following the prescribed legal process and fulfilling statutory requirements.
Conversion provides limited liability protection, separate legal identity, improved credibility, better funding opportunities, perpetual succession, and enhanced business scalability.
Yes, the partnership firm must be incorporated as a new Private Limited Company and obtain a Certificate of Incorporation from the Ministry of Corporate Affairs (MCA).
A minimum of two directors is required to incorporate a Private Limited Company. At least one director must be a resident of India.
A Private Limited Company requires a minimum of two shareholders and can have a maximum of 200 shareholders.
The conversion process generally takes 20 to 30 working days, depending on document preparation, name approval, and MCA verification.
All assets, liabilities, contracts, and obligations of the partnership firm are transferred to the Private Limited Company upon conversion.
Capital gains tax may apply unless specific conditions under the Income Tax Act are satisfied. Professional evaluation is recommended to ensure tax efficiency.
Required documents include PAN and Aadhaar of partners, partnership deed, address proof, balance sheet, DSC and DIN of directors, and MOA & AOA of the company.
The proposed company name must be approved by the MCA. If available, the partnership firm name can be retained with "Private Limited" added at the end.
Yes, a new GST registration must be obtained in the name of the Private Limited Company, and the old partnership GST registration must be surrendered.
Yes, a new bank account must be opened in the name of the Private Limited Company, and the partnership firm's bank account should be closed after fund transfer.
Yes, existing partners can become directors and shareholders of the Private Limited Company subject to eligibility and DIN requirements.
After conversion, the company must comply with annual MCA filings, income tax returns, statutory audits, and other corporate compliances.
Yes, a Private Limited Company structure is ideal for expansion, fundraising, attracting investors, and long-term business growth.
Udyog Suvidha Kendra offers expert consultation, complete documentation support, affordable pricing, and end-to-end MCA compliance for a smooth conversion process.
