Published Thu, 15 Oct 2020 | Updated Wed, 17 Mar 2021 Income Tax
Any Company other than Section 25/ Section 8 Company can be converted into a LLP by complying with the procedure as provided below:
Upon approval of e-Form 18, a certificate of incorporation will be issued to the LLP and the status of the company will be changed to ‘Converted to LLP’. Further, all the existing assets and liabilities of the company will get transferred to the LLP.
Recently a number of companies (public as well as private companies) are opting for conversion into a Limited Liability partnership (LLP) for various reasons, which inter-alia include: