List of Documents Required for Company Closure
Identity Proofs of Directors
PAN, Aadhar/Passport, Photograph
Documents of Company
Incorporation Documents (COI, MOA and AOA)
Previous Year's Reports and Annual Returns ( if any)
Bank Statements till date
Indemnity Bonds/Affidavits
Formats will be prepared by the team
STRIKING OFF THE COMPANY
Companies looking to close permanently
Why Close a Private Limited Company?
- Huge maintenance Costs and Penalties: Private limited company comes with its limitations. A private limited company has to mandatory file Annual ROC Returns ( AOC-4 and MGT-7) even if there are not doing any business. Delay in these forms range penalties around Rs 200 per day which ends up becoming a huge liability.
- Higher Income Tax Rate: One recommends to start business with a proprietorship instead of Private Limited Company due to higher income tax rates. The corporate tax rate comes around 25% whereas the individual income tax rate comes to around 10-15% due to slab benefit. Moreover, managing proprietorship will cost a lot less compare to a company
- Director Disqualification Scenario: The directors of a company can get disqualified for 5 years from being a director if the company doesn’t file it’s annual returns for 3 consecutive years. Closing a company permanently will prevent the defaults

BEFORE WE START
Our Services

GST Registration
Whether it is GST Registration or GST Migration, we are quick enough to register without any hassle.

Incorporation Services
At Taxsavo, we have experts who can help you to find out which type of entity is best for your Indian business

Income Tax Returns
Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin.
KEEP IN TOUCH
Like our services?
Recent Blogs
-
What and when is LLP Compliance Mandatory ?
Taxsavo blogs Dedicated to making your business compliant according to Indian business law for an increase in the growth and speed of your business. What.
-
Tax Audit Applicability of Section 44AB
Taxsavo blogs Dedicated to making your business compliant according to Indian business law for an increase in the growth and speed of your business. Tax.
-
How to save taxes under section 80C
Taxsavo blogs Dedicated to making your business compliant according to Indian business law for an increase in the growth and speed of your business. How.
-
Important things to be kept in mind while doing ROC Compliances
Taxsavo blogs Dedicated to making your business compliant according to Indian business law for an increase in the growth and speed of your business. Important.
-
Company Closure Services
Taxsavo blogs Dedicated to making your business compliant according to Indian business law for an increase in the growth and speed of your business. List.