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Conversion of a partnership firm into LLP
For the conversion, you would be required to follow the following steps (for details, see the section on procedure for incorporating an LLP):
  • obtain Director Identification Number (DIN) and Digital Signature Certificate (DSC) for the proposed partners of the LLP,
  • reserve name with the Registrar of Companies (ROC),
  • File online application in Form 17 with the Registrar with certain attachments, such as:
    •  the LLP Agreement,
    • a declaration (from a CA/CS/advocate) under Section 11(1) of the LLP Act,
    • statement of assets and liabilities,
    • consents from creditors
    • no-objection certificate from income tax authorities.
    • approval by the governing body of professionals, in case of conversion by a firm of professionals (such as a law firm)
Section 55 read with Schedule II of the LLP Act enables a partnership to convert into an LLP.
Note that conversion from a general partnership firm to an LLP will have no tax implications if the rights and obligations of the partners remain the same after conversion and if there is no transfer of any asset or liability after conversion.

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