Question ID : 41054

PROPRITORSHIP TO LLP

Hi All, I Am A Chartered Accountant who Started Practice In 2016 In Proprietorship Concern And Having Trade Name Registered Under ICAI. My Spouse Recently Qualified As CA In Nov 2020 Exams And We Want To Convert My Proprietorship Firm Into LLP With Changing The Trade Name As Registered In ICAI. My Question Is Whether Proprietorship Experience (5 Years) Is Continued In LLP ..?? Whether The Experience Will Count For Bank Audit Empanelment Under LLP..?? Whether Can I Proceed With This Conversion, Kindly Suggest Me. Thank You

Dinesh Ji congratulations first. Step-1. Convert the existing proprietorship firm into a partnership firm. Step-2. Apply for change in the name of that partnership firm. Step-3. Then convert that partnership firm into LLP. If you follow this process then all the seniority of firm shall be maintained.