LLP Annual Filings

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Overview

Ensuring compliance with annual filing requirements is crucial for Limited Liability Partnerships (LLPs) in India. LLPs must adhere to specific regulations and submit necessary documents to maintain their legal standing and avoid penalties. Annual compliance involves filing various forms with the Registrar of Companies (ROC) and maintaining accurate records.

Annual Compliance for LLP

Maintaining a proper book of accounts and financial statements.
Filing an annual return (Form 11) with the MCA.
Filing a statement of account and solvency (Form 8) with the MCA.
Filing income tax returns.
Tax audit filing if the annual turnover for the financial year is more than ₹40 lakh OR capital contribution from its partners at any time during the previous financial year exceeds ₹25 lakh.

LLP Annual Return Forms

LLP Form 11: This form is the core annual return document. It captures details about the LLP’s partners, their contributions, changes in the LLP agreement (if any), and any penalties imposed during the year.

Due Date: Within 60 days of the closure of the financial year.

Documents Required: LLP Agreement, Proof of LLP Incorporation Certificate, Details of Partners and their Contribution, Changes in Partners or LLP Agreement (if any), Details of any penalties imposed during the year

LLP Form 8: This form is known as the Statement of Account and Solvency. It provides a snapshot of the LLP’s financial health, including its income, expenditure, and net assets.

Due Date: Within 30 days from the end of six months following the closure of the financial year.

Documents Required: LLP Agreement, Audited Financial Statements (if applicable), Bank Statements, Details of Investments and Loans, Details of Partners’ Capital Accounts

Why BizReg?

BizReg ensures up-to-date filings guaranteeing easy access to credit and avoidance of penalties & late fees. Filing annual returns demonstrates transparency and good corporate governance, which can build trust with investors, creditors, and other stakeholders.