Annual Filling of Limited Liability Partnership(LLP)

All LLPs shall be under obligation to maintain annual accounts reflecting true and fair view of its state of affairs.

Every Limited Liability Partnerships (LLPs) is required to file LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually.

Even if LLP does not do any business, it has to comply with statutory requirement such as Annual Return, Balance Sheet, Profit and loss Account, Income tax return every year. The statutory fees will depend upon the capital contribution of LLP.

Every LLP Registered on or before 30th September 2015 have to file returns for the year ending on 31.03.2016 should Filing of Returns with Registrar of LLP. For LLP’s registered on or after 1st October 2015 will fall only in the year 2017.

However, Every LLP Registered on or after 1st October 2014 and before 31st March 2015 have to file the Income Tax return with the Income Tax Authorities. Filing of returns is mandatory whether the LLP has started any business or not.

Audit Requirement under LLP Act

Only those LLP whose annual turnover exceeds Rs. 40 lakhs or whose contribution exceeds Rs. 25 lakhs are required to get their accounts audited by a qualified Chartered Accountant.

Audit requirement under Income Tax Act

Audit of accounts is mandotory requirement under Income Tax Act when the annual turnover of LLP is more than one hundred lakhs rupees.

Filing Income Tax Returns

In case where Audit is required, the last date for filing Income Tax returns is 30th September 2016 and wherein companies which do not fall under the Audit requirement criteria will have to file Income tax returns on or before 31st July 2016.

If the LLP has not carried any business during the year ended 31.03.2016, the LLP has to file a NIL IT RETURN with Income Tax Authorities.

Filing Annual Accounts

All LLPs are required to maintain the Books of Accounts in Double Entry System and has to prepare a Statement of Solvency (Accounts) every year ending on 31st March.

Form 8 to be filed with the Registrar of LLPs on or before 30th October every year. i.e 30-10-2016  is the last date for filing annual accounts this year.

Filing Annual Return

Every LLP is required to file Annual Return in Form 11 to the Registrar within 60 days from the closure of financial year i.e the Annual Returns has to be filed on or before 30th May every year. i,e 30-05-2016 is the last date for filing annual Returns this year.

DSC Requirement

While uploading e-forms Digital Signatures of any 2 Designated Partners are required for filings. Check out the pricing for Digital Signature

Penalty for Non-Filling

If there is delay in filing form no.8 and 11 of LLP, you will have to pay penalty as applicable on today’s date. If filing is not done within stipulated time, there is penalty of Rs. 100 per day till it is complied. You cannot close or wind up your LLP without filing Annual Accounts.
So if you don’t file on time, your LLP turns into unlimited statutory liability till the day it is complied.

For More Information, Please visit Official Website of Ministry of Corporate Affairs

Fee of LLP Annual Filing Service

The Below Fee includes the Government Fee + Professional Fee + Two DSC + ITR Fee + Misc. Charges + Service Tax

LLP Annual filing service