(+91) 9109738982 admin@simplybusiness.co.in

Closure of your LLP
@ Just Rs. 5000

(consultancy Fees)

What you will get –
Consultation + Application Preparation for Closure of Company + Financial Statement Creation + Application Filing

Call or WhatsApp Now : +91-91097-38982

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Closure of Limited Liability Partnership (LLP)

Closure is the situation, during which all the assets of the business are sold to paying off creditors and distributing surplus if any, among the owners of the business. An LLP may choose its business closure by two modes, either by voluntarily closure or compulsory closure, depending on the situation or the reason for closure.

In voluntary closure, the partners will simply decide between themselves for closure of operations of the business. In compulsory closure an LLP will be compulsorily closed as per the order of the governance tribunal. There are few predefined cases for the LLP compulsory closure. Eg. when LLP is unable to pay off its debts, where the number of partners of the limited liability partnership is reduced below two and it continues for the period of more than six months.

SimplyBusiness can help you to declare closure your Company from your workspace, in just few clicks and few phone calls. SimplyBusiness can help you start the process for closure of your LLP in 2 weeks to 3 weeks. Whole process for closure of a LLP can be completed within 3 to 6 months, subject to company size and government processing times. The process and time period for closure of a LLP company could also differ from case to case, based on unique situation or reason. To discuss more about a company, get in touch with a SimplyBusiness Advisor.

Procedure

Document verification

A SimplyBusiness Advisor organizes and verify the activities of the LLP and according to MCA norms, our advisor assures if the company is ready for closure and then advises for the further formalities. This process would start as soon as customer shares the contact details

Document Preparation

The required documents are prepared by an Expert for the closure of the LLP. Documents will be prepared by the Expert in 2 weeks, based on the documents and information provided. Time period depends on the size of the company

LLP Closure Application Submission

LLP closure documents and application is submitted to start the closure process. During this process, the application is tracked on the timely basis and required documents and form are submitted to close affairs of the LLP.

Documents Required

  • Consent of all partners and investors
  • Undertaking/ indemnity bond
  • Statement of assets and liabilities and evaluation report of assets
  • Acknowledgement of income tax return
  • Affidavit, NOC(No Objection Certificate), DSC (Digital Signature Certificate)

FAQs

Q. LLP is still operative, can i close it down?

A.  If the Limited Liability Partnership is yet operative, the Partners shall wait for a period of one year to be completed since last transaction in the name of LLP to opt for this method of closure of LLP.

Q. Is there any time limit to file closure documents with ROC?

A. The Form has to be filed with ROC office within 30 days from the date of Signing of the Statement of Assets and Liabilities.

Q. Do i need to surrender PAN of LLP?

A. Yes, application of the surrender of PAN Card is required to be made. This service is not included in our package.

Q. Do i need to file the Income tax return while being inoperative?

A. Yes, filing of ITR under Income Tax is mandatory as for the financial year(s) up to which the Limited Liability Partnership has carried on the business. The application of striking off the name of LLP shall accompany the latest Income Tax Return filed, if any.
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