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The Limited Liability Partnership (LLP) is a popular business structure in India that offers the benefits of both a partnership and a company. It is a separate legal entity, and its liability is limited to the extent of its assets. However, as with any other business structure, LLPs are required to comply with certain legal requirements, including the LLP annual return filing and Income Tax Return. A LLP annual return is a document that contains the details of the LLP’s partners, capital, and profits. It is a mandatory requirement under the LLP Act, 2008, and must be filed with the Registrar of Companies (ROC) every year. Beside LLP Annual Return Filing , LLP also Need to file statement of solvency to ROC and Income Tax Return to Income Tax department
The annual return filing is an essential requirement for LLPs in India, and it is necessary to understand the various aspects of this filing.
Every LLP registered in India is required to file an annual return. It does not matter whether the LLP is active or inactive; the annual return filing is mandatory.
The due date for filing the LLP annual return is within 60 days from the end of the financial year. For example, if the financial year of the LLP ends on 31st March, the due date for filing the annual return will be 30th May.
Failing to file the LLP annual return on time can result in penalties. The penalty for late filing of the annual return is Rs.100 per day of delay, subject to a maximum of Rs.5,000. In addition, the LLP will not be able to file any other forms with the ROC until the annual return is filed.
The LLP annual return can be filed online through the MCA portal. The process is straightforward, and the LLP must provide accurate information while filing the return. The LLP must also ensure that all necessary documents are attached to the annual return before submitting it to the ROC.
The following documents are required for LLP annual return filing:
The LLP Act, 2008, mandates every LLP in India to file an annual return with the Registrar of Companies (ROC). Failing to file the annual return on time can result in penalties, which can be hefty. Filing the annual return on time ensures that the LLP complies with the law and avoids any legal repercussions.
The LLP annual return provides transparency to the stakeholders, including the partners, creditors, and investors, about the financial activities of the LLP. It contains details such as the LLP’s partners, capital, profits, and other financial information. Filing the annual return ensures that the stakeholders are aware of the LLP’s financial position and can make informed decisions.
Failing to file the annual return on time can result in penalties and legal repercussions. The penalty for late filing of the annual return is Rs.100 per day of delay, subject to a maximum of Rs.5,000. Moreover, the LLP can face legal action for non-compliance with the law. Filing the annual return on time ensures that the LLP avoids these penalties and legal repercussions.
Banks and financial institutions require businesses to provide various documents, including the LLP annual return, to evaluate their creditworthiness. Filing the annual return on time ensures that the LLP has access to bank loans and credit when needed.
Filing the LLP annual return on time builds credibility for the LLP in the eyes of the stakeholders. It demonstrates the LLP’s commitment to transparency and compliance with the law. This can help the LLP attract potential investors, partners, and customers.
The LLP annual return contains details about the LLP’s financial position, profits, and losses. Analyzing this information can help the LLP make informed decisions about its future course of action. It can help the LLP identify areas that need improvement and take corrective measures.
Filing an LLP annual return can be a daunting task, especially for those who are not well-versed in the legal and financial aspects of running an LLP. Hiring a professional can help ease the burden and ensure that the annual return is filed correctly and on time.
Here are some benefits of hiring a professional for LLP annual return filing:
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Also Learn About Other LLP Annual Compliances Forms: Directors KYC, Form 8 , Form 11 , Income Tax Return Filing etc
An LLP Annual Return is a mandatory filing that provides a summary of the LLP’s management affairs, including partner details. It must be filed annually with the Ministry of Corporate Affairs (MCA) using Form 11.
Two main forms must be filed:
Every LLP registered under the LLP Act, 2008 must file:
| Form | Description | Due Date |
|---|---|---|
| Form 11 | Annual Return | 30th May |
| Form 8 | Statement of Account & Solvency | 30th October |
Yes. The forms must be digitally signed by:
The penalty for late filing is ₹100 per day per form without any upper limit until the default continues.
You’ll need:
No. Even dormant LLPs or LLPs with zero turnover must file both Form 11 and Form 8 annually.
Audit is mandatory if:
Yes. All LLP filings are done through the MCA portal https://www.mca.gov.in
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