According to the Companies Incorporation Rules 2014 and Companies Act 2013, it is possible to convert a Partnership Firm into a Private Limited Company. For conversion following are the points that should be kept in mind:-
Following are the steps which are required to convert a Partnership Firm into Private Limited Company:-
Step 1.All the shareholders and directors of the company should apply for the Digital Signature Certificate. Which are used to Sign the Forms.
Step 2.After making the DSC. The directors can apply for the DIN number which is Directors Identification Number. DIN will be filed under Form DIR-3
Step 3.After having the DIN number. Directors can apply for the name conversion of the partnership firm into a Private Limited Company in Form INC-1A. Following are the attachments which are required for filing these form.
After attaching these documents, Form INC-1A can be signed by the promoter of the company and same should be filed.
Step 4.After getting the approval of INC-1A, Applicant can have the Name Approval Letter of the company. From the SRN number on the Name approval letter, applicant can continue the process and file the Spice forms which are required to file for the incorporation
Step 5.After the approval of the Spice form, the applicant can have the Certificate of Incorporation.