| Step Name | Short Description | Authority |
|---|---|---|
| Asset Liquidation | Disposing of all physical and financial assets to reach a "Nil" state. | Designated Partners |
| Liability Settlement | Paying off all creditors, loans, and statutory dues (GST/TDS). | Designated Partners |
| Bank Account Closure | Closing all corporate bank accounts and obtaining a closure certificate. | Bank Manager |
| Consent of Partners | Obtaining unanimous written consent from all partners for the closure. | Partners |
| Form Name | Trigger/Description | Countdown Deadline |
|---|---|---|
| Form 24 | Application to the Registrar for striking off the name of the LLP. | 30 Days from Stmt. of Accounts |
| Final Returns | Filing Form 8 and Form 11 up to the date of cessation. | Before Form 24 |
| IT Intimation | Formally notifying the Income Tax authorities about the dissolution. | Post-ROC Approval |
The LLP must have had no business operations for at least one year prior to filing Form 24.
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