Limited Liability Partnership Annual Compliances

Every LLP is required to file few mandatory Compliance filings and returns with Ministry of Corporate Affairs annually. Income Tax Return filing is also must for every LLP.
Non-compliance of mandatory LLP filings may lead to imposition of huge penalty and prosecutions.
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Quick and Easy LLP Annual filing for your business
India Kickstart packages start at Rs. 6,899/-* onwards

Package is inclusive of

  • Annual Filing with MCA
    Filing of Annual Return, Statement of Accounts and Statement of Solvency
  • Income Tax Filings
    Income Tax Return preparation and filings for LLP
  • CA Assisted Review
    Our expert CA will assist, prepare and review LLP filings

* Taxes extra

Annual Filings applicable for LLP

Limited Liability Partnership (LLP) has quite a few compliances compared to Private Limited Company. Every LLP needs to file Annual Return within 60 days from the end of financial year (by 31st May every year) and Statement of Accounts and Solvency within 30 days from end of six months from close of financial year (30th October).

Importance of Annual LLP Filings :

LLP must file annual return in electronic form with Digital Signatures of Designated partners latest by 31st May for previous financial year. E.G. For FY 2015-16, LLP must file Annual Return by 31st May, 2016

LLP must prepare their accounts and file Statement of Accounts and Statement of Solvency with MCA within 30 days from end of financial year. i. e. Due on 30th October of each financial year.

LLP is required to get their accounts audited in case turnover of LLP exceeds Rs.40 Lacs during financial year. Designated Partners are responsible for maintaining books of accounts and ensuring timely filing of LLP Annual returns with Statement of Accounts and Solvency to MCA.

It is important to note that, Annual Filings and statement of accounts and solvency are mandatory returns to be filed, irrespective whether any business has been conducted during the year or not. Thus LLP with very low volume of business also must file above annual compliances.

MCA has specified stringent penalty of Rs.200 per day in case of default/delay. Thus any default in LLP annual filing may cost substantial sums which may in some cases goes around 3-5 Lacs.

Apart from MCA annual filings, LLP must also comply with Income tax laws and file Income Tax return on annual basis. In case of Non-audit cases, Due date applicable will be 31st July in respect of previous financial year and For those LLP who are covered by Audits, they must file Income Tax Return with Audit Report by 30th September of the following financial year

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