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Closure of Inactive LLP

  • SureTax Fincare simplifies the process of Registration, Compliance & Management of your business, by making it more convenient than ever.
  • Completely online, Quick & Hassle free process – Our Services can be availed from any Location in India or Abroad.
  • Our team of CA-accredited professionals provide expert guidance throughout every stage of the process

Talk to an expert for Free: 70661 55000

Closure of Inactive LLP

  • SureTax Fincare simplifies the process of Registration, Compliance & Management of your business, by making it more convenient than ever.
  • Completely online, Quick & Hassle free process – Our Services can be availed from any Location in India or Abroad.
  • Our team of CA-accredited professionals provide expert guidance throughout every stage of the process

Talk to an expert for Free: 70661 55000

Overview

Closure of an inactive Limited Liability Partnership (LLP) is the process of winding up the business operations and dissolving the LLP. This is typically done when the LLP is no longer operational or when the partners decide to end the business for various reasons.

It is important to follow the proper procedure for the closure of an inactive LLP to ensure that the closure is valid and official, and that all stakeholders are aware of the change. The process of closure can take several months to complete and requires the cooperation of all partners.

REASON OF CHANGES IN PARTNERS

Retirement or Resignation of Partners

Loss of Business

Insufficient Capital

Change in Business Direction

Death of Partners

Legal Disputes

Incapacity of Partner due to Illness or Disability

Non Compliances with Laws and Regulations

DOCUMENTS REQUIREMENT FOR CLOSURE ON INACTIVE LLP

Resolution from Partners

LLP Winding-Up Form

NOC from MCA

Proof of Settlement of Outstanding Debts and Obligations

Proof of Payment of Taxes

Return of Capital Contributions

Surrender of Business Registrations

CA Certification (as required)

Notification to Stakeholders

Other Supporting Documents (as required)

Proof of Identity and Address of Partners

Note:-It's important to note that the specific documents required may vary based on the individual circumstances. SureTax Fincare will assist in determining the necessary documentation and provide guidance on the same.

Frequently Asked Question

The application for LLP closure should be signed by all the partners of the LLP.
No, all partners must agree to the closure of the LLP and sign the LLP Winding-Up Form.
The assets of the LLP should be distributed to the partners or creditors as per the terms agreed upon. The liabilities of the LLP should be settled before the closure.
No, an LLP cannot be closed without paying its debts and liabilities. All debts and liabilities should be settled before the closure of an LLP.
Yes, all outstanding taxes must be paid before the closure of the LLP.
The capital contributions of the partners must be returned as per the LLP agreement.
All business registrations and licenses, such as PAN and GST registration, must be surrendered as the LLP will no longer be operational.
The time frame for LLP closure depends on the speed of processing by the Registrar of Companies. On average, it takes several months to complete the closure process.
Once the closure process is complete, the registration of the LLP will be cancelled by the Registrar of Companies, and a dissolution certificate will be issued.
No, the closure of a Limited Liability Partnership (LLP) in India is a final process and cannot be reversed. Once the LLP has been dissolved, it cannot be revived or restored.
The employees of an LLP must be paid any outstanding wages and other benefits before the closure of the LLP. The employees will no longer be employed by the LLP after the closure.

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