Can LLP go for strike off without doing its annual filing in case there is no business in the LLP?
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Can LLP go for strike off without doing its annual filing in case there is no business in the LLP?
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One can close LLP by himself but it is advisable to take a help of professionals as the process is not as simple as it seems. Following are some points which should be considered before processing for closure.
• Filing of annual compliances forms with MCA
• Filing of IT return
• Closure of bank account in the name of LLP if any
• CA certified Statement of Accounts
• Preparing all necessary documents as required for filing the form with MCA
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It is possible to close LLP by itself, but it is advisable to take assistance from professionals as the process is not as simple as it seems. Here are some things that should be taken into consideration before processing for closure.
• Submission of annual compliance forms to CMA.
• Producing an IT Declaration.
• Closure of bank account in the name of LLP if any
• CA certified Statement of Accounts
• Preparing all necessary documents as required for filing the form with MCA
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It all depends on the contract you have made while starting the partnership. But in the majority of cases, it is impossible because usually all these aspects are clarified in the contract. For example, the only thing I was arguing with my partner was about the software we were using. They were using software from the revenue intelligence platform for working with data we didn't know about. We didn't want to start using other software, but after explaining its advantages, we agreed to start using the same software.
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