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LLP Annual Filing

About LLPs Annual Filing
LLPs are Limited Liability partnership i.e. these companies are run in partnership with number of partners. They have their different responsibility and roles. As the LLPs are run in partnership, so it is the duty of partners to maintain a proper book of all financial transactions. LLPs are separate legal entities. They are registered under Ministry of corporate affairs. LLPs are required to get their accounts audited by a qualified Chartered Accountant mandatorily when their turnover exceeds INR 40 lakhs, and if contribution is more than INR 25 lakhs.

For a Limited Liability Partnership, the returns should be filed periodically for maintaining company compliance and secure for the penalty in delay of filing or non-filing .LLPs has to follow less rules and regulation as compare to private limited. The penalty for LLP is 5lakh where it is less for private limited.

Few Important points
  • LLPs in India must file their Annual Return within 60 days from the end of financial year.
  • Statement of Account & Solvency within 30 days from the end of six months of close of financial year.
  • It is mandatory for LLP’s to maintain their financial year, as 1st April to 31st March. 
  • LLP annual Filing is due on 30th May.
  • Statement of Account & Solvency is due on 30th October of each financial year.
  • As annual turnover exceeds Rs. 40 lakhs & the contribution exceeds Rs. 25 Lakh then, LLP’s are required to do audit.
Few Points To Remember 
  • Statement of Accounts and Solvency
Accounts and solvency is all about the financial statement of the LLP. it contains declaration of all the designated partners of the LLP. 
If a LLP was incorporated on or after 1st October of a financial year, then the LLP can close its first financial year either on the coming or next 31st March.
  • Annual Return Due Date
Due date of annual return is with in the 60 days of the financial year close.
  •       Statement of Accounts and Solvency Due Date
Statement of Accounts and Solvency of a LLP is due within 30 days from the end of six months of close of financial year. Statement of Accounts and Solvency of a LLP is due before October 30th of each financial year
Procedure for the Annual Filling
  • Fill the form manually or electronically ( ie; e-form).  
  • Submit all the required   documents and sign the documents.  
  • Submit the form in MCA   . 
Q. What is Accounts and Solvency??
Ans. The accounts and solvency is the mandatory document for the filling of return. The Statement of Accounts and Solvency incudes a declaration on the state of solvency of the LLP by the designated partners and also information related to the assets, liabilities, income and expenditure of the LLP. 

Q. What is the due date of annual filing??
Ans. Annual return of an LLP is due before May 30th of each financial year. The Annual return of an LLP is due within 60 days of close of financial year. 

Q. How much penalty have to pay?? 
Ans. If the annual return is not filed or delay due to some reason then the companies (LLPs) has to pay the penalty of Rs.100 per day as default.

Q. How many form need to be fill??
Ans. There are two form needs to be fill 
1) Form-11 for Annual filing of LLP.
2) Form-8 for Accounts & statement.

Q. Who is liable for filing the annual??
Ans. The Designated Partners of the LLP are responsible to file LLP ROC Return.
FilingBazaar will help you in reply for the legal notice for ROC.

Q. How to check the return status??
Ans. It shows on the Master Data of the Company on the MCA (Ministry of Corporate Affairs) website.