There are many ways to close an LLP. Strike, voluntary liquidation, or bankruptcy are few options, depending on the facts. If the LLP is not in business or has never been in business since incorporation, we recommend following the simple LLP termination process.This option can be chosen if the LLP has no assets or liabilities. … Read More “How to close an LLP in India” »
Winding Up a Limited Liability Partnership (LLP) The penalty for not filing any statutory return is Rs. 100 per day, with no upper limit. As a result, winding up dormant LLPs is frequently preferable so that the LLP does not have to file LLP Form 11, LLP Form 8, and an Income Tax Return each … Read More “LLP Form 24: How to Quickly Close an LLP” »
Dissolution refers to the formal dissolution of a partnership or official body. This is the process of dissolving or being dissolved, which is the process of disintegrating. However, dissolution has multiple meanings in law. In LLPs, dissolution is the process of liquidation that ends their existence. Assets and property of the concerned entity are redistributed. … Read More “Limited Liability Partnership Dissolution” »
Limited Liability Partnerships (LLPs) are similar to general partnerships but have limited liability for their partners. An LLP is basically a partnership with certain legal rules and regulations that are more complex than those for a traditional partnership. As a result, closing an LLP is also simpler than closing a partnership. There are some benefits … Read More “What is the procedure for closing a limited liability partnership in India?” »
