Closures
Closure of Private Limited Company
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Overview
As your business strategy evolves, formal company closure might be the right step. For Private Limited Companies in India, Taxwale Consultants specializes in the Fast Track Exit (FTE) scheme. We ensure a streamlined, efficient, and legally compliant process to wind down operations, minimizing disruption and facilitating a graceful and peaceful exit for your entity.
Time-Saving Efficiency:
Taxwale leverages the FTE scheme for quick company dissolution. This drastically reduces the time burden and administrative headaches compared to traditional winding-up procedures, ensuring a swift exit.
Cost-Effective Closure:
Our FTE process minimizes procedural costs and government fees compared to conventional winding-up. Taxwale ensures an affordable and financially efficient solution for your company's formal closure.
Minimized Legal Liabilities:
By expediting formal dissolution through FTE, Taxwale helps prevent potential legal complications and ongoing compliance burdens. This safeguards directors and promotes a clean slate post-closure.
Enhanced Public Image:
Conclusively dissolving your company through FTE creates a clear, transparent, and official record of closure. This fosters a positive public image for associated directors and shareholders, ensuring a graceful exit.
How it works
Experience effortless financial management with our streamlined process. Simply onboard, submit documents securely, and ensure a seamless and efficient accounting partnership with Taxwale Consultants.
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basic plan
$ 69
year
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ultra plan
$ 79
month
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pro plan
$ 89
month
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- Support Your Business
- Revoke Dokument Access
- Detailed Risk Profiling
- Enter Unlimited Bils
- Bank Transactions
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basic plan
$ 699
year
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- Support Your Business
- Revoke Dokument Access
- Detailed Risk Profiling
- Enter Unlimited Bils
- Bank Transactions
- Financial Strategy
ultra plan
$ 799
year
Discover the emerging technologies most relevant to your strategy by working.
- Support Your Business
- Revoke Dokument Access
- Detailed Risk Profiling
- Enter Unlimited Bils
- Bank Transactions
- Financial Strategy
pro plan
$ 899
year
Discover the emerging technologies most relevant to your strategy by working.
- Support Your Business
- Revoke Dokument Access
- Detailed Risk Profiling
- Enter Unlimited Bils
- Bank Transactions
- Financial Strategy
COMMON QUESTION
Most Popular Questions
Here are answers to some of the most common questions regarding the Closure of a Private Limited Company. We aim to provide clear, concise information to help address your queries efficiently.
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When can a Private Limited Company be closed in India?
A Private Limited Company can be closed when it's defunct (not carrying on any business for a specified period), unable to commence business, or voluntarily decides to wind up its operations.
What is the Fast Track Exit (FTE) scheme for company closure?
FTE is a simplified and expedited scheme offered by the Ministry of Corporate Affairs (MCA) to strike off the name of a defunct or inactive Private Limited Company from the Register of Companies.
Which companies are eligible for the FTE scheme?
Companies that have not commenced business operations or have not carried out any business activity for the preceding two financial years are generally eligible for the FTE scheme.
What are the main advantages of closing a company via FTE?
The main advantages include a time-saving and efficient process, significantly reduced procedural costs, minimization of future compliance burdens, and a clear, official dissolution record.
What is the difference between winding up and striking off a company?
"Striking off" (like FTE) is for defunct companies with minimal liabilities and is an easier process. "Winding up" is a more formal and detailed process for active companies, especially those with significant assets or debts.
What are the key documents required for company closure?
Key documents typically include an indemnity bond, affidavit by directors, statement of accounts, board resolution, and no-objection certificates from relevant authorities.
What happens to assets and liabilities during company closure?
Before applying for closure, the company must clear all its liabilities and dispose of all assets. The FTE scheme is primarily for companies with no significant assets or liabilities.
What are the consequences of not formally closing a defunct company?
Not closing a defunct company can lead to ongoing compliance burdens, penalties for non-filing, disqualification of directors, and potential legal complications in the future.
How long does the company closure process typically take under FTE?
Under the FTE scheme, the process usually concludes within a few months, depending on MCA's processing times and the completeness of the application, significantly faster than traditional liquidation.
What is the role of a Chartered Accountant or professional in company closure?
A CA or professional like Taxwale guides the entire FTE process, prepares necessary documentation, ensures legal compliance, and files applications with the MCA on behalf of the company.
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STEP 1: Get Started (FREE!)
Share your needs and questions through our Quick Enquiry Form. Connect with a friendly advisor for a personalized call within 24 hours. Receive a clear quote without any obligation – it's all about understanding your goals!
STEP 2: Find Your Perfect Path
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STEP 3: Get it Done Simply
Access our streamlined platform for easy document management. We provide a simple questionnaire and checklist to ensure everything's covered. Relax knowing we're here to guide you every step of the way.
STEP 4: Pay Actual Fee and Enjoy Peace of Mind
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Closure of Private Limited Company
Formal closure of a Private Limited Company in India is a highly complex and regulated undertaking, extending far beyond merely ceasing business activities. This intricate process demands adherence to stringent legal procedures, compliance with authorities like the Ministry of Corporate Affairs (MCA) and Income Tax Department, and meticulous liability management. An incorrect or incomplete closure can trigger substantial penalties, perpetual compliance burdens, and significant legal repercussions for directors. Taxwale Consultants is your reliable partner, ensuring a seamless, compliant, and stress-free company dissolution.
The dissolution journey for a Private Limited Company encompasses several critical phases, such as securing consents from creditors and shareholders, filing diverse forms with the MCA, settling all outstanding dues, and often, formally winding up under specific provisions of the Companies Act, 2013. Mastering these demands requires profound corporate law knowledge and keen attention to detail. Taxwale Consultants simplifies this entire process, managing all legal formalities and documentation on your behalf, guaranteeing precise submissions and strict adherence to deadlines.
A paramount advantage of partnering with Taxwale Consultants for your company’s closure is the unwavering assurance of complete legal compliance. We meticulously ensure that every statutory obligation is fulfilled, all requisite resolutions are duly passed, and all MCA forms are correctly filed, effectively preventing future legal liabilities for both the company and its directors. Our specialized expertise significantly mitigates the risks associated with improper dissolution.
Furthermore, our services offer robust protection against persistent liabilities and unforeseen expenses. An inactive company, if not properly closed, continues to accrue annual compliance costs like audit fees, return filing charges, and potential non-filing penalties. By orchestrating a proper and complete closure, Taxwale Consultants empowers you to eliminate these avoidable financial burdens and future risks, providing genuine peace of mind.
Moreover, delegating the entire closure process to Taxwale Consultants liberates your invaluable time and resources. Rather than contending with convoluted legal terminology, voluminous paperwork, and navigating numerous government portals, you gain the freedom to concentrate on new ventures, seizing business opportunities, or fulfilling personal commitments. Our committed team expertly manages every stage, from drafting resolutions and securing consents to filing final applications and obtaining the official strike-off order.
In summary, the formal closure of a Private Limited Company in India is a pivotal step that undeniably necessitates professional expertise to avert future complications. Opting for Taxwale Consultants for this critical process represents a strategic decision for businesses aiming for a responsible and legally impeccable exit. Our comprehensive support guarantees that all legal mandates are fulfilled, liabilities are proficiently managed, and your company is officially dissolved with utmost efficiency, granting you unparalleled peace of mind.
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Why Clients Trust Taxwale Consultants
Benefit from our directors’ deep 15-year expertise and a dedicated team of over 20. We provide customized, proactive tax strategies to simplify your compliance and boost your financial goals.
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Hear From Our Valued Clients
Their team made the entire tax filing process smooth and stress-free. Professional, prompt, and reliable — exactly what every business needs. I highly recommend their services!
Ravi Mehra
FinEdge Solutions
We’ve seen real growth since partnering with them. Their financial insights and compliance support helped us streamline operations. It’s been a game-changer for our company!
Priya Deshmukh
BrightPath Enterprises
Outstanding service and clear communication. Their team genuinely cares about our success and goes beyond just numbers — they provide real guidance for smart business decisions.
Amit Khanna
CoreNechnost Telogies
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