Winding Up – LLP
If your LLP is inactive, no longer required, or you want to formally close it, Winding Up / Closure of LLP is the legal process to dissolve it as per MCA & LLP Act, 2008.
Winding Up – LLP
🔹 Types of LLP Winding Up
1️⃣ Strike Off (Fast Track Exit)
✔ LLP has no liabilities
✔ No business activity
✔ Partners mutually agree
✔ Quick & cost-effective
👉 Most commonly used for inactive LLPs
2️⃣ Voluntary Winding Up
✔ LLP has assets/liabilities
✔ Partners pass resolution
✔ Appoint liquidator
✔ Settle creditors
3️⃣ Compulsory Winding Up (By Tribunal)
✔ Fraud / default / legal disputes
✔ Initiated by NCLT
📋 Documents Required
LLP Agreement
Consent of Partners
Affidavit & Indemnity Bond
Statement of Accounts (CA certified)
Latest IT Return filing
Digital Signature (DSC)
🛠️ Our Services Include
✔ Eligibility check
✔ Drafting resolutions & affidavits
✔ Filing Form 24 (Strike Off)
✔ MCA follow-ups
✔ Final LLP closure confirmation
⏱️ Timeline
🕒 30–90 days (subject to MCA approval)
⚠️ Important Notes
All GST, IT, and MCA filings must be up to date
LLP should not have pending liabilities
PAN & bank account should be closed after approval
💡 Why Close an LLP Properly?
✔ Avoid penalties & compliance notices
✔ Clean legal exit
✔ No future MCA or IT issues
Proprietorship Firm
A Proprietorship is the simplest and most commonly chosen form of business in India, ideal for individual entrepreneurs who want full control and minimal compliance. In this structure, the business is owned, managed, and controlled by a single person, and there is no legal distinction between the owner and the business.
What is a Proprietorship?
A proprietorship firm is a business owned by one individual who bears all the profits, losses, risks, and liabilities. It is easy to start, cost-effective, and requires very few legal formalities, making it perfect for startups, freelancers, consultants, traders, and small businesses.
Key Features
Single Owner – Complete control over business decisions
Easy to Start & Close Minimal documentation and quick setup
Low Compliance – No mandatory annual filings with MCA
Direct Taxation – Income taxed as personal income of the proprietor
Full Profit Retention – Entire profit belongs to the owner
Registrations Required
While proprietorship itself is not registered under MCA, certain registrations are required to operate legally:
PAN & Aadhaar of the proprietor
GST Registration (mandatory if applicable)
Shop & Establishment License
Current Bank Account in the business name
Udyam (MSME) Registration(optional but recommended)*
Advantages
* Quick and inexpensive formation
* Complete ownership and flexibility
* Easy banking and accounting
* Ideal for small-scale and service businesses
Limitations
*Unlimited Liability – Personal assets are at risk
* Limited growth and funding options
* Business existence depends on the proprietor
Who Should Choose Proprietorship?
* Startups and first-time entrepreneurs
* Freelancers, consultants, and professionals
* Small traders and service providers
* Home-based and local businesses
How We Help?
We provide **end-to-end support** for proprietorship setup, including:
* Business registrations and licenses
* GST, Income Tax & compliance support
* Bank account assistance
* Ongoing advisory and filing services