Drag

Hotline: +91 8180992345

Get Your Free Tax Advisor Today and Save 10% on Your First Session Get Started

Let's Chat

+91 9322135413

Proprietorship To Private Limited Company

Convert a proprietorship to a private limited and contribute to a more professional image and perceived stability in the eyes of clients, partners and other stakeholders.

Request A Call Back

Steps for Conversion

  • Consultation - Seek advice from legal and financial professionals to guide the conversion process.
  • Name Confirmation and Documentation - Confirm the availability of the desired business name and prepare necessary conversion documents.
  • Registration - File the conversion documents with the appropriate government agency to officially register the private company.
  • Permits and Liabilities - Obtain any required business permits, and carefully transfer assets and address liabilities.
  • Tax Considerations - Understand and manage tax implications associated with the conversion.
  • Employee and Stakeholder Communication - Inform employees, update contracts, notify customers, suppliers, and other stakeholders of the structural change.

Documents Required

  • A copy of each proposed partner's PAN card.
  • Passports, election cards or voter identity cards, ration cards, driving licenses, and Aadhaar cards are all acceptable forms of address or identity proof for Indian citizens not more than 2 months old.
  • The Partner's Ownership Proof must include no more than 2 months old Electricity Bills, Telephone Bills, Gas Bills, Mobile Bills, or any other utility bills from the company location.
  • Two recent passport photos (for DSC)
  • All directors and members must provide the most recent bank statements no older than two months.
  • If a rented premises agreement or property papers are required, a copy of address proof is required.
  • The landlord NOC should be in given downloaded PDF format.

Our Process to Work

Simplify the switch with Taxperts Associates: Proprietorship to Pvt Ltd Company.

  • Consultation - Initiate with a detailed consultation to understand business needs.
  • Documentation and Approvals - Prepare and file necessary documents, obtain DIN, and facilitate regulatory approvals.
  • Name Check and Drafting - Conduct a name availability check, draft MoA and AoA, and file with RoC.
  • Asset and Liability Transfer - Ensure a smooth transfer of assets and liabilities from proprietorship.
  • Share Allotment and Compliance - Structure share allotment, facilitate bank account transition, and ensure regulatory compliance.
  • Closure and Post-Conversion Support - Complete formal closure of proprietorship, provide ongoing support from experts at Taxperts Associates for compliance and queries.

Benefits

  • Limited Liability - Shield personal assets from business debts with limited liability.
  • Enhanced Credibility - Boost business credibility, fostering trust among clients and partners.
  • Access to Funding - Attract investments and issue shares for easier access to funding.
  • Flexible Ownership - Structure ownership through shares, allowing for transfer and investment.
  • Tax Benefits - Enjoy potential tax advantages, including efficient tax planning.
  • Continuity and Succession - Ensure business continuity and ease of succession planning.
  • Professional Image - Project a professional image, essential for industry recognition and growth.

Frequently Asked Questions

Converting to a private limited company provides limited liability protection, enhanced credibility, access to funding, and tax benefits, fostering business growth and professional image.

The process includes name availability check, obtaining Director Identification Number (DIN), filing Memorandum and Articles of Association, transferring assets and liabilities, and obtaining necessary approvals.

The conversion may require adjustments in contracts and relationships. Proper communication and legal processes can minimize disruptions.

Clear communication and obtaining creditor approvals are essential. The new private limited company assumes the debts and obligations of the proprietorship.

Yes, there may be tax implications. Consultation with tax experts is recommended to understand and plan for any tax consequences.

The timeline varies, but with proper planning and efficient handling, the conversion can typically be completed within a few weeks to months.

The availability of the same business name depends on legal requirements and name availability checks. It may be possible with adjustments.

Existing employees can transition to the new entity. Clear communication and adherence to labor laws are essential.

Yes, private limited companies have ongoing compliance requirements. It's crucial to adhere to regulatory obligations for continued smooth operations.

Taxperts Associates provides expert guidance in every step of the conversion process, from legal documentation to regulatory compliance, ensuring a seamless transition with minimal disruption.

At Taxperts Associates, our seasoned tax consultants bring unparalleled expertise to guide you through intricate tax landscapes. With a commitment to precision and personalized service, we empower clients to navigate financial complexities with confidence

A Call Away
+91 9322135413
Quick Links
Contact Us

Office No. 53 & 58, 2nd Floor Old Prince Market, Near Axis Bank, Furniture Bazaar, Ulhasnagar-421003

Follow Us On
Taxperts Associates

©Copyright 2024. All Rights Reserved. Taxperts System Private Limited