About Partnership to LLP
The first thing that has to be done during the conversion of a partnership into an LLP is to get a DSC (Digital Signature Certificate). All the partners will require a digital signature.
The next step would be to obtain a DPIN (Designated Partner Identification Number), which is a one-time number. It is again mandatory for at least two partners in order to proceed with the conversion. There is no renewal required.
As soon as the DPIN is obtained, an application for name approval must be submitted. The name should be selected carefully. Limited Liability Partnership will be used at the end of the company’s name.
Finally, an LLP Form 17, an LLP Form 2 and an LLP form 3 must be filed for the conversion. The documents required along with the form are-
a) Address proof of the registered office
b) Approval by the regulatory authority
c) Details of the partnership (including details of partners and directors)
d) Consent of all the partners
e) Copy of the latest income tax return
f) No Objection Certificate from tax authorities
g) List of creditors and their consent
h) List of certified liabilities and assets
After the successful filing of all the documents along with prescribed fees, verification will take place, After which a certificate will be issued.