LLP Annual Filing
LLP Annual Return Filing In India
Limited Liability Partnership is a partnership in which all partners
have limited liability. In LLP, one partner is not responsible for the other partner’s misconduct or negligence.
Every LLP registered with ministry of corporate affairs has to file statement of accounts and annual returns every year
There are 3 compliances which every LLP has to mandatorily comply with –
Financial statements of LLP
Income tax return filings (https://www.finacbooks.com/gst-return-filing)
As a registered LLP user, you have to mandatorily file financial statements & annual return even if you are not
doing any business. Even a nil return should be filed as it is a compulsory requirement.
What Is Included In Our Package?
Due Date For Filing Statement Of Accounts &
Annual Returns For LLP
1.Filing of statement of accounts – Every LLP must prepare and close its books of accounts before 31st
march every year. To file statement of accounts, form 8 needs to be properly filed by at least two
designated partners with the registrar within 30 days after completion of 6 months of the financial year.
The last date for filing statement of accounts is 30th October every year. Submitting the form after the
deadline will lead to fines, penalties etc.
2.Filing of Annual return – Form 11 is used to file annual returns. It is a summary of all the designated
partners involved in management of LLP. If there are some changes in the management of LLP, it should
be indicated in form 11. To file annual returns, form 11 needs to be properly filed to the registrar within 60 days from the end of financial year. The last date of filing annual return is 30th may every year. Submitting the form after deadline will lead to fines, penalties etc.
Documents Required For LLP Annual Filing
Statement of Accounts
Disclosure under MSME development act (if applicable)
Audit Requirement For LLP
Every LLP whose annual turnover is more than Rs.40 lakhs or whole contribution is more than Rs.25 Lakhs should get their accounts audited unless
they have to face fines, penalties etc.
Income Tax Compliance For LLP
It is necessary for an LLP to follow income tax compliance. Two of the compliances are given
Penalty For LLP Late Filing
If there is a delay in filing LLP returns, a penalty of Rs.100 will be charged per day from the last day of filing to the payment processing date. You cannot close or wind up your LLP without filing annual returns.