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LLP Annual Compliance

LLP Annual Compliance must be done within 60 days from the end of close of financial year and Statement of Account & Solvency within 30 days from end of six months of close of financial year. Unlike Companies, LLPs mandatorily have to maintain their financial year, as April 1st to March 31st. Therefore, LLP annual compliance is due on May 30th and 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 get statutory audit done and file income tax return every year.Registration Arena provides a comprehensive LLP compliance service which includes LLP Annual compliance and LLP income tax return filing at a very affordable price point.

LLP Annual Compliance includes the following:-

All LLPs are required to maintain accounts and prepare financial statements at the end of each financial year. Our Compliance Manager will help your LLP maintain accounts and will prepare the financial statement for your LLP at the end of financial year.

Filing LLP Form 11
Form 11 contains details of the number of partners, total number of partners, total contribution received by all partners, details of body corporate as partners and summary of partners. All LLPs should file this form within 60 days from the closure of the financial year with the prescribed fee. Hence, the due date for filing LLP Form 11 is 30th of May each year. Registration Arena LLP Annual Compliance includes preparation and filing of LLP Form 8.

Filing LLP Tax Audit
LLPs are separate legal entities. Therefore, it is the responsibility of the Designated Partners to maintain proper book of accounts and file annual return with the MCA each financial year. LLPs are not required to audit its accounts unless the annual turnover exceeds Rs.40 lakhs or if the contribution exceeds Rs.25 lakhs.

Filing 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. This must be digitally signed by 2 designated partners and it must be certified by a chartered accountant/company secretary/cost accountant. Form 8 has contains Statement of Solvency, Statement of Accounts and Statement of Income & Expenditure. Registration Arena LLP Annual Compliance includes preparation and filing of LLP Form 11.

At Registration Arena, we are continuously available to help you understand how to comply annually for a LLP. LLP Annual Compliance in India can be done through Registration Arena in all major cities including Hyderabad, Mumbai, and New Delhi, Chennai, Kolkata & all other Indian cities.

Penalties for Non LLP Compliance

  • ROC Non-compliance
    The penalty for non-filing of these forms with the ROC is Rs. 100 per day per form. The dangerous part being that there is no upper limit on these LLP penalties. It goes on increasing every day during the period of non-compliance.
  • Income Tax Non-Compliance
    There have been amendments in tax laws. These laws will come into effect from April 1,2018. As per the same, taxpayers who do not file their ITRs on time will have to shell out a penalty of up to Rs10,000. A two- level penalty has been levived in this regard.A fee of Rs5,000 shall be payable, if the return is furnished after the due date but on or before