Closing a Limited Liability Partnership - Overview
Limited Liability Partnership needs to file certain mandatory annual returns whether the business is in operation or not. If the firm fails to file , then the LLP will be subjected to penalties and prosecution as per the LLP Act
LLP which is not operating since its incorporation or not operating for more than a year can apply for its closure. LLP can close by either Declaring Limited Liability Partnership as Defunct or Winding up of Limited Liability Partnership.
Benefits of closing an LLP
Compliance free
No Penalty Fee
Switch to appropriate business
Documents Required For Registration
- PAN of Limited Liability Partnership
- Agreement by Partners of Limited Liability Partnership
- Latest IT Return (if any)
- Statement / Certificate for the closure of Bank Account
- Latest Accounts Reports of Limited Liability Partnership
- PAN of Partners of the LLP
- Aadhaar number or card of Partners
- Address Proof of Partners of the LLP closure form
Process To Register
- Calling a Board Meeting.
- Setting Off Liabilities
- Application to ROC.
- Surrender PAN of LLP
To Know more Click here