LLP Annual Filings

  • Mandatory Compliance for Limited Liability Partnership
  • We prepare Financial Statements for LLP
  • Filling for Annual Form 8 of LLP
  • Filling of Annual Form 11 of LLP

Mandatory Compliance for Limited Liability Partnership

Every limited liability partnership shall file an annual return duly authenticated with the Registrar within sixty days of closure of its financial year in such form and manner and accompanied by such fee as may be prescribed this is Mandatory Compliance for Limited Liability Partnership firm. LLPs are separate legal entities therefore, the Designated Partners are responsible to maintain correct book of accounts and file annual return with the MCA each financial year. Every LLP has to close its books of accounts as on 31st March every year and prepare a Statement of Accounts (Profit and Loss Account and Balance Sheet) and has to file the same with Registrar of LLP.

LLP Annual Return Form 11

LLP Form 11 is available on MCA portal. This form is one of LLP annual compliance and it contain details about LLP partners name, temporary address , permanent address. Also need to mention about Contribution paid by partner in LLP. All LLP should file LL Form 11 within 60 days from end of Financial year. For Example for FY 2018-19 due date for filing form 11 is 30 May 2019. Partners need upload this form with use of digital signature.

Content of Form 11

  • Partners Name , Address ( Present & permanent )
  • Partners Contribution in LLP
  • Details of Indian & Foreign partners
  • Declaration signed by partners
  • Form 11 to be upload with use of DSC
  • Form 11 Due date 30 May 2019
  • For Non filing per day late fee Rs. 100/-
  • LLP Annual Return Form 8
  • LLP Form 8 is statement of solvency , statement of income and expenditure. This form is one of LLP annual compliance and it contain need to be filed by two partners with use of digital signature. Due date for Filing LLP Form 8 is 6 months from end of financial year that is 30 Sept 2019. This form also need to be certified by chartered accountant/company secretary/cost accountant.

Content of Form 8

  • Statement of Solvency
  • Certification by CA/CS/CMA
  • Form 8 to be upload with use of DSC
  • Due date 30 September 2019
  • For Non filing per day late fee Rs. 100/
  • LLP Income Tax Return Filing
  • LLP income tax return need to filed to do disclosure it financial statements and pay appropriate taxes. Income Tax filing mandatory for saving late / non filing penalty and carry forward business loss if any in LLP. Form ITR 5 to be filing online with use of digital signature of one of partner. LLP whose turnover exceeded Rs. 40 Lakh or whose contribution exceeded Rs. 25 Lakh are required to get their accounts audited by a practicing Chartered Accountant. Where LLP having tax liability shall pay advance tax to save late payment interest on tax.

Due Date for Filing ITR of LLP

  • LLP Not under Tax Audit : 31 July 2019
  • LLP under Tax Audit : 30 September 2019
  • Our Package for LLP Annul Filing Include
  • Filing of Annual Return (Form 11)
  • Filing of Statement of the Accounts or Financial Statements(Form 8)
  • Certification by Professional

Penalty For LLP Annual Non Compliance

For MCA Filings:

Filing of Form 8 and Form 11 is mandatory As per the Limited Liability Partnership Act, 2008 for LLP. Such LLP forms need to filed online with use of DSC. Failing to do LLP annual compliance result in immediate late filing fees of Rs. 100/- per day per Form. No upper ceiling is specified for such penalty amount.

For Income Tax Filings:

As per Section 234F of Income Tax Act 1961 , where LLP which was liable for Income Tax filing and had not filed income then late fees of Rs.5000/- applicable if filed before 31 December. And Rs.10000/- if filed after December. Income tax penalty for non filing ITR has been introduced from FY 2017-18.