More about Close a LLP
Eligibility of LLPs to opt for voluntary closure via Form 24 method
- For LLPs that started business but want to close down:
- The LLP should not have any assets or liabilities
- The LLP should not have any existing bank accounts. In case there is an existing account, it needs to be closed.
- The LLP should have filed Annual returns (Form 11 and Form 8) for all those years in which the company did business
- For LLPs that did not commence business:
- In case the LLP did not commence business after starting, they can go for filing of Form 24 after at least one year of incorporation. The bank account should not have any business transaction (i.e. transactions apart from partners contributions, partners withdrawal and bank charges) since incorporation.
Process Flow
Timeline 4-6 working days- Raise a request with us, discussion with Wazzeer team, share basic information
- Review proposal and hire
- Share details and documents
- Prepare statement of accounts
- Documentation and their notarization
- Filing of Form 24
Required Documents
- Certificate of Incorporation
- LLP Deed
- PAN of the company
- Bank account closure document
- Indemnity Bond and Affidavits on Stamp Paper by Partners of the company (To be shared by SP)
- Statement of Accounts (Draft will be shared by SP. Signed copy to be shared by client)
- Board Resolution for Closure (Draft will be shared by SP. Signed copy to be shared by client)
Key Deliverables
- Statement of accounts
- Indemnity bond and affidavits
- Form-24 Filed Acknowledgement
Why choose Wazzeer?
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One platform for all your requirements
Incorporation is just the first step. Wazzeer supports you throughout your journey as an entrepreneur. Log in to get things done efficiently. A dedicated Account Manager offers the required human touch and acts as an advisor to you.
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Experienced professionals
Our professionals have at least 5 years of experience and have incorporated thousands of companies among them. The rich experience ensures that the process is smooth and right in the first go.
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Defined process
Over the last few years, doing over 500 incorporations, we have defined every step of the process. A virtual process is in place enabling us to deliver hassle free experience for you.
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Cost Effective
You pay what you see in the proposal. No surprises or hidden charges.
Frequently Asked Questions
What is LLP in filing Form 24?
Who are eligible for filing Form 24
- Any LLP which has not started operations even after 1 year of incorporation
- Any LLP which has not done any business for at least previous one financial year
What are the conditions to be satisfied for the company to go for Form-24 Filing
- The LLP should not have any assets and Liabilities
In case, if assets and liabilities have been shown in the previously filed balance sheet, proofs should be shown that the assets have been disposed off and Liabilities waived off or repaid - The LLP should not have any Bank Accounts
If the LLP had previously opened any bank account requisite proofs should be shown for closure of such accounts - The LLP should have filed Annual returns (Form 11 and Form 8) for all those years in which the company was doing business