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Conversion of partnership firm into llp

Mukesh Kumar (CA Job) (96 Points)

20 October 2016

For the purpose of conversion of partnership firm into LLP, whether Partnership firm should be registered under partnership act. In our Case our partnership deed is not registered but we have Service Tax Registration No. , TAN etc. whether our firm can be converted into LLP or we have to create a new LLP

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CA VIRAL SANGHVI (Finance head) (681 Points)
Replied 20 October 2016

See

As far as partnership is concern,There are two options

1. oral partnership

2.written partnership

It is not compulsory to do the written partnership but it is advisable.

So you can convert the existing partnership into LLP

Mukesh Kumar (CA Job) (96 Points)
Replied 20 October 2016

It means a unregistered firm can also be converted into LLP

CA VIRAL SANGHVI (Finance head) (681 Points)
Replied 20 October 2016

See your partnership firm is unregistered so it has no legal existence, so first you should register it.The process for it is very easy than you can convert it into LLP