Legal Munshi

Annual Compliances for LLP

@ RS. 19999/- ALL-INCLUSIVE FEE

Manage Your LLP’s Annual compliance and return, financial statement preparation, income tax return filing by our Tax Advisor at just Rs.7999/-

Annual Compliances & Filing for LLP

Compliances related to filing annual returns for Limited liability partnerships (LLPs) are required to meet fewer criteria as compared to private limited companies. LLPs are required to provide information related to the statement of accounts, and returns, on an annual basis. Penalties, however, are huge for failure to comply. The LLP Annual return is to be filed in the prescribed Form-11.The form 11 has to be filed by 30th May each year.Know moreabout Form-11. The LLP Annual return filing is 30th September. But for the LLPs whose tax audit has not required any deadline. So, the due date for tax filing is 31st July. The Statement of Account & Solvency is due on October 30th of each financial year. In addition to the MCA annual return, LLPs must also mandatorily file income tax return every year.

Companies are also required to mandatory file returns for GST, TDS, ESI, PF and other related to the line of business

Benefits of Filing Mandatory Compliances for LLP

 Provides for higher credibility for loan approvals or any other similar requirements.
 Improved Operational performance
 Best Practices
 Business growth forecast, feasibility studies etc.

Main Compliance of LLP

  •   LLP Accounts Maintenance :

    All LLPs must maintain books of accounts since registration on cash basis or accrual basis. The book of accounts must be maintained at the Registered Office of the LLP and must contain information about all the money received and expended, assets and liabilities, statement of COGS, inventories and finished goods statement. At the end of each financial year, all the LLPs are required to prepare their financial statements within 6 months for filing with the ROC. More details here

  •   LLP Form 11 :

    Limited Liability Partnership (LLP) registered in India under the LLP Act, 2008 must mandatorily file LLP Form 11 Annual Return each year. Filing of LLP Form 11 is a mandatory annual compliance for all LLPs, irrespective of turnover or profit or business activity. Hence, even a LLP that has no activity must file LLP.

    LLP annual return must be filed electronically and taken on record. It is important to ensure that all the information filed in the Form is correct as there is no provision for resubmission of LLP Form 11 Annual Return. Filing of LLP Form 11 will not be allowed in case there is any eForm 4 (Notice of appointment, cessation and change in designation of a designated partner or partner) pending for payment of fee or any eForm 4 is under processing with the MCA. Therefore, it is important to file any eForm 4 well ahead of the time of due date for LLP Annual Return.

    In case total obligation of contribution of partners of the LLP exceeds Rs. 50 lakhs or turnover of LLP exceeds Rs. 5 crores, then LLP Form 11 needs to be certified by a Whole time Company Secretary. In case total obligation of contribution of partners of the LLP does not exceed Rs. 50 lakhs and turnover of LLP does not exceed Rs. 5 crores, then LLP Form 11 must be certified by the designated partner of the LLP.

    LLP Annual Return Form 11 is due on the 31st of May of each year. More details here

  •   LLP Form 8 :

    Form 8 must be filed within 30 days from the end of 6 months of the financial year along with some prescribed fee. Form 8 has contains Statement of Solvency, Statement of Accounts and Statement of Income & Expenditure. In Form 8, the LLP must provide details of financial transactions during the financial year and position at the end of financial year. In addition,the LLP must also declare:

    • • Declare that the turnover is above or below Rs. 40 lakhs.
    • • Declare that the LLP has already filed a statement indicating the creation of charges or modification or satisfaction till the present financial year.
    • • Declare that the partners/authorized representatives have taken proper care and responsibility for maintenance of adequate accounting records and preparation of accounts.
    The due date is Due on 30th October. More details here

  •   LLP Tax Audit :

    LLPs are required to have its accounts audited by a practicing Chartered Accountant if its annual turnover, in any financial year exceeds Rs.40 lakhs or its contribution exceeds Rs.25 lakhs. The due date shall be 30th November in case the assessee has entered into an international transaction and 30th September in other cases. More details here

  •   Income Tax Return Filing :

    LLPs must file income tax return using Form ITR 5. LLP whose turnover exceeded Rs. 40 Lakh or whose contribution exceeded Rs. 25 Lakh are required to get their accounts audited by a practising Chartered Accountant. The deadline for LLP tax filing in India is July 31st if tax audit is not required. The deadline for tax filing for LLP required to obtain audit is September 30th. More details here

    Similar to income tax applicable for a company, LLP is also subject to Minimum Alternate Tax (MAT). A minimum alternate tax of 18.5% of adjusted total income is applicable for LLP. Hence, income tax payable by LLP cannot be less than 18.5 per cent (increased by income tax surcharge, education cess and secondary and higher education cess).

    LLPs that entered into an international transaction with associated enterprises or undertook certain Specified Domestic Transactions are required to file Form 3CEB. Form 3CEB must be certified by a Chartered Accountant. LLPs required to file Form 3CEB have 30th November as the deadline for LLP tax filing.

LLP Compliance Due Dates and Penalty

Required Compliance Due Dates Penalty for Non-compliance
1. LLP Form 11 – Annual Return The LLP must file return each year with MCAwithin 60 days of financial year end. So due date for LLP is 31st of May of each year.

LLP: Penalty of Rs.100 per day until the non-compliance continues with no maximum capping.

2. Form 8 LLP Form 8 or Statement of Account & Solvency is a filing that must be filed every year with MCA. The due date for filing LLP Form 8 is 30th October of each financial year.

LLP: Penalty of Rs.100 per day until the non-compliance continues with no maximum capping.

3. LLP Tax Audit The annual turnover of LLP, in any financial year exceeds Rs.40 lakhs or its contribution exceeds Rs.25 lakhs,LLP needs to get there accounts audited by a practicing Chartered Accountant. The due date is 30th September and 30th November in case international transaction .

• One half per cent of the total sales, turnover or gross receipts.
• Or One lakh and fifty thousand rupees.

4. Income Tax Return Filing

• LLPs must file income tax return using Form ITR 5 on or before July 31stif tax audit is not required. The deadline for tax filing for LLP required to obtain audit is September 30th.

• Penalty will be applicable as mentioned in ITR-5

Documents Required For LLP Compliances

Copy of agreement
Copy of board resolution
List of partners with holdings
Bank Statments
Details of board composition
Disclosure under MSME development Act (if applicable)


Secreterial Audit Report
Last year's tax return
Particulars of penalties or compounding offences (if applicable)
The solvency statement
TDS- Form 26AS related data
Other business related documents (In case of business)

In case of business,you are required to share Business or Profession Details,Business Expenses, Business Loan, and Books of Accounts (if available), Investments, Sales and Purchase Details, Any other incomes, Investments or Savings details .

For further queries kindly refer our FAQ section

Stages For LLP Compliance through Legal Munshi

Our team of experts will cover the following compliance requirements as mandated by the Ministry of Corporate Affairs.


Stage 1. Annual ROC Compliance :

Annual returns need to be filed with the Registrar of Companies.

Our team keeps track of the board meetings and provides assistance related to it.


Stage 2. Form 11 Filing :

We will file your LLP's annual returns Form 11 as per the prescribed format.


Stage 3.Form 8 Filing:

We will then file your LLP's Form 8 or Statement of Account & Solvency with MCA.


Stage 4. Income Tax Return Filing :

After preparing financial statements we will proceed to file incometax returns for your LLP using Form ITR 5.


Stage 5. Statutory registrations :

All statutory registrations like GST, PF, ESI, etc. must be made along with the above compliances based on your line of business.

Avail registration for GST, PF, ESI, IEC,MSME / Udyog Aadhaar

Procedure for LLP Compliance with Legal Munshi

Step 1 : Complete Our Simple Online form

You have to provide the details in the form.

Step 2 : Submit all the documents

Submit all the required Documents and information for further process. Check the required documents here.

Step 3 : Expert Guidance

Once you have provided the details, our expert will guide you with the further filing process.

Step 4 : Online Filing

After submission and upon successful verification of all the required documents, one of our experts will do the necessary filing.

Step 5 : Congratulations!!!

Once the filing is done we will inform you and provide the necessary documents.

Pricing and Packages

Starter

Rs.7999/-

All inclusive Fees

Financial Statement Preparation, Annual Return Filing, Annual Report, Form 11 Filing, Form 8 Filing For companies with a turnover of upto Rs.10 lakhs. Inclusive of government fee and GST.

Economy

Rs.11999/-

All inclusive Fees

Financial Statement Preparation, Annual Return Filing, Annual Report, Form 11 Filing, Form 8 Filing For companies with a turnover of upto Rs.40 lakhs. Inclusive of government fee and GST.

Elite

Rs.17999/-

All inclusive Fees

Financial Statement Preparation, Annual Return Filing, Annual Report, Form 11 Filing, Form 8 Filing For companies with a turnover of upto Rs.100 lakhs. Inclusive of government fee and GST.

Here’s how we can help you get rid of all accounting & book-keeping related complexities.

Statutory Auditor fee is payable on actuals directly to the Independent Auditor appointed by the Board of Directors.

FAQs on Annual LLP Compliances and Filing

What is annual LLP compliances?

Know more about LLP annual filing here.

What are the benefits of annual LLP compliances?

You can get the details about it here.

What documents are required for the registration?

Refer to the required documents list here.

Does a LLP needs to fulfil compliances even when there is no transaction?

Every LLP irrespective of the number of transactions has to get the compliance filings done.

What are the different forms to be filed with the RoC every year?

All the required details are mentioned here.

What are the due date for LLP company compliances?

Different forms have different due dates,refer to the compliance related due dates here.

How To Go For Annual Compliances For Private Limited Companies with Legal Munshi ?

It very simple, follow the steps mentioned here. and our expert will guide you through the entire process. We offer attractive packages for annual compliance. Refer to the pricing details here.

What are the penalty for not filing Annual Compliances

Different forms have different due dates and penalties,refer to the penalty related details here.

What are the other filings to be done?

Apart from the ROC and Income tax filing, companies are required to file return for GST, TDS, PF, ESI etc. depending on the nature of business and registrations.