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    Procedure For Conversion - CA Firm To LLP

    Uploaded by

    Manav Harivyasi
    The document outlines the process and requirements for converting a chartered accountant (CA) firm in India to a limited liability partnership (LLP). Key steps include: 1. Obtaining digital signatures and ensuring at least one designated partner is a resident of India. 2. Applying to the Institute of Chartered Accountants of India (ICAI) for name approval using Form 117 if the proposed LLP name includes "Chartered Accountant." 3. Once ICAI approval is received, applying to the Ministry of Corporate Affairs using Form RUN LLP with documents like the partnership agreement and ICAI no-objection certificate. 4. Filing Forms 17 and FILIP simultaneously

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    Procedure For Conversion - CA Firm To LLP

    Uploaded by

    Manav Harivyasi
    440 views2 pages
    The document outlines the process and requirements for converting a chartered accountant (CA) firm in India to a limited liability partnership (LLP). Key steps include: 1. Obtaining digital signatures and ensuring at least one designated partner is a resident of India. 2. Applying to the Institute of Chartered Accountants of India (ICAI) for name approval using Form 117 if the proposed LLP name includes "Chartered Accountant." 3. Once ICAI approval is received, applying to the Ministry of Corporate Affairs using Form RUN LLP with documents like the partnership agreement and ICAI no-objection certificate. 4. Filing Forms 17 and FILIP simultaneously

    Original Description:

    Procedure to convert CA Firm into LLP

    Original Title

    Procedure for conversion_CA Firm to LLP

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    The document outlines the process and requirements for converting a chartered accountant (CA) firm in India to a limited liability partnership (LLP). Key steps include: 1. Obtaining digital signatures and ensuring at least one designated partner is a resident of India. 2. Applying to the Institute of Chartered Accountants of India (ICAI) for name approval using Form 117 if the proposed LLP name includes "Chartered Accountant." 3. Once ICAI approval is received, applying to the Ministry of Corporate Affairs using Form RUN LLP with documents like the partnership agreement and ICAI no-objection certificate. 4. Filing Forms 17 and FILIP simultaneously

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    440 views2 pages

    Procedure For Conversion - CA Firm To LLP

    Uploaded by

    Manav Harivyasi
    The document outlines the process and requirements for converting a chartered accountant (CA) firm in India to a limited liability partnership (LLP). Key steps include: 1. Obtaining digital signatures and ensuring at least one designated partner is a resident of India. 2. Applying to the Institute of Chartered Accountants of India (ICAI) for name approval using Form 117 if the proposed LLP name includes "Chartered Accountant." 3. Once ICAI approval is received, applying to the Ministry of Corporate Affairs using Form RUN LLP with documents like the partnership agreement and ICAI no-objection certificate. 4. Filing Forms 17 and FILIP simultaneously

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    CONVERSION OF CA FIRM TO LLP

    REGULATION:

    Section 55 of the Limited Liability Partnership Act, 2008 read with rule 32 of the Limited
    Liability Partnership Rules, 2009 and the second schedule of the Act;

    Guidelines issued by the Institute of Chartered Accountants of India (ICAI) under Guideline
    Notification No. 1 - CA (7) 03/2011 dated 4th November, 2011.

    PRE-REQUISITES:

     Obtain Digital Signature of the proposed Designated Partners;


     At least one Designated Partner shall be a resident of India.

    PROCEDURE FOR GETTING THE NAME APPROVED FROM ICAI (CONVERSION OF


    CA FIRM INTO LLP):

    The application for name approval shall be made in Form 117 to the ICAI, if the proposed
    names includes the word Chartered Accountant or Chartered Accountants, as the case may
    be for obtaining NOC;

    The Form is required to be submitted through online mode at the ICAI Portal;

    Before downloading the Filled ICAI Form 117, the same is required to be verified by way of
    a onetime password by all the partners (sent on their respective mobile numbers which are
    updated on their respective SSP) of the partnership CA Firm;

    Once the name gets approved from ICAI by way of a NOC, the same can be applied to MCA
    for approval through RUN LLP Form with the necessary annexures (original partnership
    agreement, NOC issued by ICAI, PDF of Form 117, individual consent obtained by all the
    partners etc.)

    The NOC of ICAI shall be valid for a period of 3 months from its issuance.

    FILLIP FORM 17 WHICH CONTAINS THE STATEMENT BY PARTNERS WITH THE


    FOLLOWING ATTACHMENTS:

     NOC issued by ICAI;


     Partnership Deed (Initial and all supplementary)
     Statement of consent of all the partners – in the format of Form 17 LLP Part B;
     Statement of assets and liabilities of the Firm duly certified by a Chartered Accountant in
    practice;
     Copy of acknowledgment of latest ITR;
     List of all secured creditors along with their no objection certificate;
     Copy of approval of statutory authorities, if required;
    FILE FORM FILLIP WITH THE FOLLOWING ATTACHMENTS:

     Proof of registered office address (Rent agreement, utility bill and NOC, if owner is body
    corporate then resolution too);
     ID and Address proof of the Designated Partners/Partners depending upon they are
    having a valid DIN or not;
     Consent of proposed Designated Partners/partners;
     Subscribers sheet;

    NOTE: BOTH THE FORMS MAY BE FILED SIMULTANEOUSLY AND THE


    PARTNERS OF THE LLP INTO WHICH THE FIRM IS TO BE CONVERTED,
    COMPRISE OF, ALL THE PARTNERS OF THE FIRM AND NO ONE
    ELSE:                                                       

    On receipt of the documents and forms as stated above, the Registrar, if satisfied shall
    register the same and issue a certificate of registration in Form 19;

    Once the forms get approved and new Certification of incorporation is obtained, file Form
    14 within 15 days of the date of conversion with the Registrar of Firms for intimation of
    conversion into LLP, in case the CA firm was registered;

    File the LLP Agreement in Form 3 within 30 days date of conversion of the LLP (Date of
    COI);

    Inform ICAI.

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