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Annual Compliance of LLP

Introduction

Every Limited Liability Partnership (LLP) Firm is required to make following compliance irrespective of annual turnover, nature of business, place of business or whatever other criteria.

Filing of Annual return – LLP Form 11

Annual return of LLP is required to be file within 60 days from the end of financial year i.e, 30th May is due date of filing annual return of LLP. This form is required to be filed by every limited liability partnership firm whether having turnover or not.

Annual return required LLP to provide detail of contribution made by partners, detail of partners, detail of body corporate as partner, detail of designated partner as on 31st March, detail of penalty imposed on LLP as well as on partner, detail of compounding offence etc.

Filing statement of Accounts and Solvency

LLP Form 8: – Statement of Accounts and Solvency is required to be filed by LLP in prescribed format. This form is filed with Registrar of Companies (ROC) on or before 30th October every year for respective financial year.

Statement of Accounts and Solvency is statement wherein LLP is required to provide detail of financial transaction during the year and position as on 31st March every year.

Form-8 is required to be certified by the chartered accountant along with digitally sign by one partner of Limited Liability Partnership firm.

Income Tax Return filing

Limited Liability Partnership firm is also required to file income tax return annually in prescribed form i.e, ITR-5. Due date of filing income tax return may very in different cases.

  1. In case Audit not required: – Due date of filing ITR is 31st July every year where annual turnover of LLP is not exceed Rs. 40 Lakh and Contribution is less then Rs. 25 Lakh.
  2. In case Audit required:- Due date of filing ITR is 30th September every year where annual turnover LLP exceed Rs. 40 lakh or contribution is more then Rs. 25 Lakh.
  3. International Transaction:- Due date of filing ITR is 30th November every year where LLPs entered into international transaction and form 3CEB required to be filed by Chartered Accountant.

Documents required for Annual Compliance of LLP

LLP Annual Filing – Form 11

  1. Previous year Annual Filing form of LLP, if not first year filing
  2. Balance Sheet of LLP
  3. Detail of penalty levied during the year.
  4. Addition or deletion of partner during the year etc

Filing of Statement of Accounts and Solvency – LLP Form 8

  1. Previous year Statement of accounts and solvency, if not first year filing
  2. Balance sheet of LLP as on 31st March
  3. Profit and Loss statement of LLP during the financial 31st March
  4. Audit Report of LLP, if LLP required to get book audited from Chartered Accountant.

Income Tax Return Filing

  1. Previous year Income Tax Return
  2. Balance Sheet of LLP as on 31st March
  3. Profit and Loss statement of LLP during the financial year

How to get annual filing of LLP?

LLP Annual compliance takes around 3-4 working days from submission of all the documents. You can get annual compliance using EAdvisors LLP Compliance expert services.

Use expertise of EAdvisors to complete ROC annual compliance LLP along with other business compliance like GST return filing, Income Tax Return filing etc while you can focus on you core business activities.

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