Can I convert my Proprietorship AP to an LLP or a private limited company?
Yes, you can convert your Proprietorship AP to a separate entity such as an LLP or a private limited company, subject to compliance with applicable guidelines and approval from the concerned exchange/authority.
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Why savings account required for audit if AP run a proprietorship firm with many transactions?
In the case of a proprietorship, the firm and the individual share the same PAN, meaning they are legally treated as the same entity. Therefore, both personal and business bank accounts fall under the scope of audit and must be submitted as part of ...
Can LLP entity be registered as an MFD, RIA, etc.?
Yes, an LLP (Limited Liability Partnership) entity can be registered as a Mutual Fund Distributor (MFD), Registered Investment Adviser (RIA), and similar roles, subject to meeting the respective regulatory requirements.
Do company directors need to trade only with IIFL if AP is under a company?
No, the requirement applies only to the company’s trading and demat accounts, which must be maintained with IIFL. The individual directors are not required to trade exclusively through IIFL or close their personal accounts with other brokers.
Non individual account opening request has been rejected due to due to "LLP data entry wrongly updated in system"
In this case please select constitution as CORPORATE instead of partnership and select sub constitution as Limited Liability partnership (LLP)
I want to know my AP registration number
AP registration numbers are available on the segment registration certificate.