a. Circumstances:

• The firm no longer intends to carry on its business.
• The firm has completed its business activities.
• The partners mutually decide to dissolve the firm.

b. Compliance Requirements and Process:

• Obtain consent from all the partners to dissolve the firm.
• Settle the firm’s outstanding liabilities and obligations.
• Distribute the remaining assets among the partners as per the partnership agreement or mutually agreed terms.
• Prepare a dissolution deed stating the dissolution of the firm.
• File an application for dissolution with the relevant authority, such as the Registrar of Firms or relevant state authority.
• The authority will review the application, verify the documents, and issue a dissolution certificate, officially dissolving the firm.