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LLP Annual Filing

Escape hefty penalties with timely annual LLP compliance filing

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OVERVIEW
BENEFITS
DOCUMENTS REQUIRED
PROCESS
FAQ'S

Overview

LLP

LLP or the Limited Partnership is a hybrid combination of a limited and partnership company.

Partners

Minimum two partners are required to incorporate an LLP there is no such upper limit.

Mandatory

Besides the MCA annual return filing, the limited liability partnerships must also mandatorily file the income tax return every year.

Financial year

The financial year for the LLPs starts from the 1st of April to the 31st of March.

Overview

PAN and Aadhaar Card

Both PAN and Aadhaar Card of all Indian Shareholders and Directors

Identity Proof

Either Voter ID, Passport, or Driving License of the Shareholders and Directors.

Proof of Address

Copy of the latest Telephone Bill, Electricity Bill, or Bank Account Statement of the Shareholders and Directors

Photographs

Latest passport size photographs of all the Shareholders and Directors

Business Address Proof

Either of the latest Utility Bill (Electricity, Telephone, Gas, Water) or Property Tax Bill of the registered office address. Rent agreement and NOC from the owner in case of rented property

Proof of Address

Copy of the latest Telephone Bill, Electricity Bill, or Bank Account Statement of the Shareholders and Directors

Benefits of Annual Compliance

Higher Credibility

Legal compliance is a primary requirement for any business. The status of LLP annual filing is displayed at the Master Data of the LLP on MCA portal and the same can be accessed by any person. For loan approvals or any other similar requirements, compliance is a major criterion to measure the credibility of the organization.

Record of Financial Worth

The forms filed by the LLP are accessible by companies. Hence, while entering into contracts or major projects, the concerning party may also inspect the financial worth. LLP annual filing provides the record of its financial worth and capacity to an interested person or party.

Maintain Active Status and avoid penalties

In case of consecutive default in annual filing, the LLP can be declared as defunct or receive default status. Also, the partners can be declared as defaulters and may also be disqualified from their further appointment in LLP or company. Hence, LLP needs to file the return to maintain active status. Regular filing also saves the LLP from heavy additional fee and penalties.

Easy conversion and closure

For conversion of the LLP into any other organization, annual filing is very essential. The regular compliance records ease the conversion task. The same applies in case of closure of LLP. Even if the LLP was non-operational, the Registrar may ask to fulfill annual compliance, with additional LLP filing fee, if applicable.

Read More About LLP Annual Filing >

Documents required for LLP Annual Filing

PAN Card & COI

LLP Agreement

Financial Statements

Digital Signature

steps

LLP Annual Filing in 3 Easy Steps

  • Spare less than 10 minutes to fill our online Questionnaire
  • Upload required Documents
  • Make quick payment through our secured gateways
  • Assigned Relationship Manager
  • Drafting required documents for filing LLP compliance
  • Preparation of Forms to be filed
  • Online Filing of Annual Return
  • Online Filing of Statement of Accounts & Solvency
  • All it takes is 4 working days*
 
 

PROCESS

Process of LLP Compliances

  • Discussion and collection of basic Information
  • Provide Required Documents
  • Decide the due dates of filing
  • Drafting necessary documents
 
  • Filing of Annual Return (Form 11)
  • Filing of Statement of Accounts & Solvency (Form 8)

Our Clients

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Explore LLP Annual Compliance Filing

LLP Annual Filing is necessary for every LLP since its incorporation. From the closure of its first financial year, the LP must file both the forms within the prescribed time limit. The annual compliance is mandatory for every LLP, irrespective of the number of transaction, turnover or commercial activity undertaken.
In case of delay in filing, the LLP is charged with additional Government fee of § 100 for each day of delay. Also, there is no ceiling limit to an additional fee. For continuous failure to annual LLP compliance, the RoC can remove the name of LLP from its register. Also apart from additional fees, the penalty may also be levied to LLP and its partners.

The audited books of accounts are necessary for the LLP falling under any of the below-mentioned criteria:
1) If turnover of the LLP exceeds § 40 Lakh: or
2) Total contribution of Partners exceeds § 25 Lakh.
If LLP does not fall under any of the above criteria, statements with the signature of partners are sufficient.

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