Startups can windup their business and close their Partnership in case of one of the following reasons:
There are many types of dissolution of Partnership Firm
If firm operations are not active, and founder wants to avoid the responsibility of compliances, then he can chose to voluntary dissolution of firm.
Yes, firm needs to surrender its other registration first before applying for voluntary dissolution.
Firm needs inoperative from the date of incorporation or inactive for a period of at least one year.
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