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LLP Annual Filing
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LLP Annual Filing
About LLPs Annual Filing
LLPs are Limited Liability partnership i.e. these companies are run in partnership with number of partners. They have their different responsibility and roles. As the LLPs are run in partnership, so it is the duty of partners to maintain a proper book of all financial transactions. LLPs are separate legal entities. They are registered under Ministry of corporate affairs. LLPs are required to get their accounts audited by a qualified Chartered Accountant mandatorily when their turnover exceeds INR 40 lakhs, and if contribution is more than INR 25 lakhs.
For a Limited Liability Partnership, the returns should be filed periodically for maintaining company compliance and secure for the penalty in delay of filing or non-filing .LLPs has to follow less rules and regulation as compare to private limited. The penalty for LLP is 5 lakh where it is less for private limited.
Documents To Be Submitted:-
1. List of Partners with holdings
2. Last year’s tax return (if applicable)
3. LLP Partnership Deed
4. DSC of any one partner (Compulsorily Required)
5. Bank statement of LLP from 01/04/17 to 31/03/18
6. Details of any transaction like sale, purchase, expenses etc. (If applicable)
LLP Annual Filings Last Date –
1. Due Date of Form 11 is 30th may and late filing fees is Rs.100/- per day
2. Due Date of Form 8 is 30th October and late filing fees is Rs.100/- per day.
Few Important points :-
1. LLPs in India must file their Annual Return within 60 days from the end of financial year.
2. Statement of Account & Solvency within 30 days from the end of six months of close of financial year.
3. It is mandatory for LLP’s to maintain their financial year, as 1st April to 31st March.
4. LLP annual Filing is due on 30th May.
5. Statement of Account & Solvency is due on 30th October of each financial year.
6. As annual turnover exceeds Rs. 40 lakhs & the contribution exceeds Rs. 25 Lakh then, LLP’s are required to do audit.
Procedure for the Annual Filling
- Fill the form manually or electronically ( ie; e-form).
- Submit all the required documents and sign the documents.
- Submit the form in MCA .
FAQ
Documents Needed