What is Partnership Dissolution?
A partnership firm can be dissolved by mutual agreement, by notice in a partnership at will, or on events such as insolvency or death of a partner. A dissolution deed records the settlement of accounts between partners.
After dissolution, the firm's GST, PAN and bank accounts should be closed and the Registrar of Firms informed.
Who Needs Partnership Dissolution?
- Partners ending a business together
- Firms where a partner has died or retired with no continuation
Advantages of Partnership Dissolution
Clean exit
Each partner's dues are settled in writing.
No future liability
Public notice protects partners from new debts.
Documents Required for Partnership Dissolution
Firm
- Partnership deed
- Dissolution deed (we draft it)
- Final accounts
- PAN and GST details
We share an exact checklist for your case after the consultation. Scanned copies or clear phone photos are fine.
How We Get It Done
- 1Drafting
Dissolution deed with settlement terms.
- 2Execution
Signed and notarised.
- 3Intimation
ROF, GST and bank are informed.
Estimated timeline7–15 working days
Frequently Asked Questions
It is advisable to give public notice so that partners are not liable for acts done after dissolution.