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Hi, this is sandeep,i want to know the processes and guidelines involved in registering a partnership firm as private limited.Its regarding an IT Software firm.And also the posts n positions the partners will get after the registration, like Chairman,CEO,MD,Director,etc.Pls throw some light on this.
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this is really straightforward ... all you need to do is this - know how many people are the founders of the company and how much money each is putting in, then you go to an auditor and he will do all the work for you in terms of registration etc. You can run the company where the founders remain as directors of the company and hire a chairman, MD etc or they can themselves take those positions based on mutual agreement. That is really about how the company wants to be structured.
Hope this is useful
Anand Kumar
CEO
SurgeForth Technologies
Hello Sandeep. This is mushak here. First of all a private limited company has to be incorporated. And then that would take over the running business of the partnership firm. This take over would attract capital gains taxation provisions as per income tax act. But we can claim exemption from capital gains tax if we comply with certain things. For incorporating private limited company step by step procedures
1. Obtain Director Identification Number from Ministry of Corporate affairs atleast for any two partners
2. Obtain Digital Signature certificate for any one partner
3. File form 1A with Registrar of companies for getting Name availability for the proposed company
4. Prepare Memorandum and articles of association and get it signed by the partners (WHo are promoting the company) and file Form 1, Form 18 and Form 32 with Registrar of companies. Apply for PAN and TAN for the company. If required apply and get IMPORT EXPORT LICENCE, STPI Registration and ware house bonding
5. Pass resolution to take over the business of Partnership firm
6. Close the books of the partnership business and file final it return for the firm and first it return for the company after the closure of the financial year and surrender the PAN of the firm.

As regards ur second query
Chairman and Managing Director
Managing DIrector
Director
Directors are of two type. Executive directors and non executive director. Those who actively take part in operational activities of the company are executive directors

If you need further clarification and service regarding incorporation pls cal 9789273760
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