Prepared by CA K S Ravi REQUIREMENTS FOR CONVERSION INITIAL PROCEDURE REGARDING NAME VARIOUS FORMS CHAPTER 10 LLP Act 2008 PROVISIONS UNDER CHAPTER 10 Continued SECOND SCHEDULE SECTION 55 ID: 1029209
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1. CONVERSION OF CA FIRMS INTO LLPPrepared by CA K S Ravi
2. REQUIREMENTS FOR CONVERSION
3. INITIAL PROCEDURE REGARDING NAME
4. VARIOUS FORMS
5. CHAPTER 10 – LLP Act, 2008
6. PROVISIONS UNDER CHAPTER 10
7. Continued …
8. SECOND SCHEDULE (SECTION 55)
9. FIRM MEANS
10. CONVERT
11. ELIGIBILITY FOR CONVERSION
12. STATEMENT TO BE FILED
13. REGISTRATION OF CONVERSION
14. REGISTRAR MAY REFUSE TO REGISTER
15. EFFECT OF REGISTRATION
16. REGISTRATION RELATING TO PROPERTY
17. PENDING PROCEEDINGS
18. CONTINUANCE OF CONVICTION, RULING OR ORDER OR JUDGEMENT
19. EXISTING ARRANGEMENTS
20. EXISTING CONTRACTS
21. CONTINUANCE OF EMPLOYMENT
22. EXISTING APPOINTMENT, AUTHORITY AND POWER
23. APPROVALS AND LICENSE
24. PARTNERS LIABILITY
25. NOTICE OF CONVERSION IN CORRESPONDENCE
26. Council Guidelines for conversion of CA firms into LLPs dated 14-11-2011 vide Guidelines No.1-CA (7)/03/2011
27. Provision for Chartered Accountants in particular
28. CA Regulations 1988
29. CA Regulations and the LLP Act for name approval
30. Continued …
31. CONVERSION OF SOLE PRACTIONERS INTO LLP
32. FIRM NUMBER
33. SENIORITY AND CODE OF ETHICS
34. SUBJECT TO CLARIFICATIONS
35. OTHER GUIDELINES
36. CONSTITUTION OF SEPARATE LLPS
37. SENIORITY GUIDELINES ON CONVERSION
38. CONTINUED…
39. Continued …In case of any dispute in respect of these guidelines, the same shall be referred to the committee of the Institute and the decision of that committee shall be final and binding on the members of the Institute.For the purpose of any clarification regarding the approval and registration of proposed LLP with the ICAI, the requests can be sent at the following address:-The SecretaryThe Institute of Chartered Accountants of IndiaP.B No: 7100, “ICAI Bhavan”, Indraprastha MargNew Delhi – 110002These Guidelines shall come into force w.e.f. 4th November, 2011.
40. Fees to be paid for incorporation/conversionEvery LLP shall specify LLP identification number (LLPIN) in all the forms used.Fees to be paid for registrationLLP ContributionFeesLess than Rs. 1,00,000Rs. 500Between Rs. 1 lakh to Rs. 5 LakhRs. 2,000Between Rs. 5 Lakh to Rs. 10 LakhRs. 4,000Between Rs. 10 Lakh to Rs. 25 LakhRs. 5,000Between Rs. 25 Lakh to Rs. 1 CroreRs. 10,000Above Rs. 1 CroreRs. 25,000The amount shall be paid into the Public Account of India through Credit Card, Internet Banking, Remittance at Bank Counter or any other mode approved by CG
41. Forms for various issues
42. Designated Partner Identification Number
43. Incorporation of LLP
44. Address of LLPs
45. Form of Contribution
46. SMALL LLP
47. THANK YOU