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LLP Annual Filing

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About LLP Annual Filing

LLPs in India must file its Annual Return within 60 days from the end of close of financial year and Statement of Account & Solvency within 30 days from end of six months of close of financial year. Unlike Companies, LLPs mandatorily have to maintain their financial year, as April 1st to March 31st. Therefore, LLP annual return is due on May 30th and the Statement of Account & Solvency is due on October 30th of each financial year. However, in case the LLP was incorporated on or after 1st of October of a financial year, then the LLP can close its first financial year either on the coming or next 31st March, thereby filing its annual return after 18 months.

LLPs are separate legal entities; therefore, it is the responsibility of the Designated Partners to maintain proper book of accounts and file annual return with the MCA each financial year. LLPs are not required to audit its accounts unless the annual turnover exceeds Rs.40 lakhs or if the contribution exceeds Rs.25 lakhs. Therefore, LLP who do not have to get the accounts audited if it satisfies the above condition, making the annual filing process a simple and easy one. Businessgig can help file the Annual return for your LLP.

HIGHLIGHTS OF LLP ANNUAL RETURN FILING

Annual Return

Annual return is a mandatory filing to be made by all LLPs in India. The annual return must be electronically filed in the prescribed format with the Ministry of Corporate Affairs.

Statement of Accounts and Solvency

Statement of Accounts and Solvency is a mandatory filing that is required for all LLPs in India. Statement of Accounts and Solvency contains a declaration by the designated partners and related to financial position of the LLP.

Annual Return Due Date

Annual return of a LLP is due within 60 days of close of financial year. Therefore the Annual return of a LLP is due on or before May 30th of each financial year.





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. Therefore the Statement of Accounts and Solvency of a LLP is due on or before October 30th of each financial year.

Newly Incorporated 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.

Penalty for Late Filing

Late filing or non-filing of LLP Annual Return or Statement of Accounts and Solvency before the due date will attract a penalty of Rs.100 for each day of default. Further, the penalty doesn't have a ceiling, so it is best to file in time.

LLP ANNUAL FILING PROCESS

LLP Annual Filing

Businessgig.com can help file the mandatory annual return for your LLP and maintain annual compliance with the Ministry of Corporate Affairs.

Annual Return Preparation

An Businessgig Compliance Expert will prepare the Annual Return for your LLP based on the financials and performance during the previous financial year.

Annual Return Verification

Once the Annual Return is prepared in the requisite format, the Client's Finance Team can verify the prepared annual return and affix the digital signature.

Finalization

Once the Annual Return is prepared and verified, the Annual Return can be filed with the Minsitry of Corporate Affairs along with the necessary attachments.

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What You Need To Know

Stay Disciplined

Many businesses let their compliance requirements pile up, even though taking care of them involves much less effort than is often imagined. Staying disciplined from the initial days will be hugely helpful when looking for investment or a bank loan, as both would want to ensure that your business is compliant with the Registrar of Companies' (RoC's) requirements.

Regular Updates

Having a company secretary on call throughout the year is essential in ensuring that your business is run in accordance with the laws in force. Our team would keep you up-to-date with all the changes made by the RoC throughout the year. This package is valid for 12 months from the date of payment, not from the start of the financial year.


What are Annual Compliances?

All the benefits of a private limited company, such as the ability to raise capital easily and accommodate shareholders, come at the cost of increased compliance. While the majority of small businesses do not fulfil their compliance requirements in their opening years, they end up paying heavy penalties (up to Rs. 1 lakh a year) for failing to do so. In the worst scenario, such companies and their directors are even blacklisted for a short period of time.

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  • Require 2 Person as Entrepreneur i.e Directors
  • Easily Setup and recommend to Growing
    Start-ups
  • Limited Liability for Members
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  • Statutory Compliance are high
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  • Involvement of other Directors in Decision Makings
  • Restricted to transfer of the shares to others without agreements
  • Not allow invite to public for deposits

Inclusions

Returns & minutes filing

We file your annual returns and prepare the minutes of board meetings

Issuing certificates

We issue share certificates and update the statutory registers

Drafting & filing financials

We file IT returns and directors' disclosures to the Registrar

File LLP Annual

LLP’s in India must file its Annual Return within 60 days from the end of financial year and Statement of Account & Solvency within 30 days from end of six months of close of financial year. Unlike Companies, LLP’s mandatory have to maintain their financial year, as 1st April to 31st March. Therefore, LLP annual Filing is due on 30th May and the Statement of Account & Solvency is due on 30th October of each financial year. The annual turnover exceeds Rs. 40 lakhs or if the contribution exceeds Rs. 25 lakhs than LLP are not required to audit its accounts.

What are Annual Filings?

Limited liability partnerships (LLPs) have very few compliances to fulfil, in comparison to private limited companies. LLPs need only file information related to statement of accounts and annual returns on an annual basis. Penalties, however, are huge for failure to comply. Entities that don't end up doing so could be fined heavily, with penalties going up to Rs. 5 lakh in some cases.

Basic
₹ 3,999
 /-

Onwards (Inclusive of all Govt. Fees).

Returns & minutes filing
Issuing certificates
Drafting & filing financials
Partners Resolution
Forms Filing

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FAQ OF LLP Annual

What is Annual Return?

Annual return is a mandatory filing to be made by all LLP’s in India. The Annual return along with the required documents must be filed with the Ministry of Corporate Affairs.

What is statement of accounts and solvency?

Statement of Accounts and Solvency is a mandatory filing that is required for all LLP in India. Statement of Accounts and Solvency contains a declaration on the state of solvency of the LLP by the designated partners and also information related to statement of assets and liabilities and statement of income and expenditure of the LLP

What is due date for filling LLP Annual Return?

Annual return of a LLP is due within 60 days of close of financial year. Annual return of a LLP is due on or before May 30th of each financial year.

What is the penalty for not filling LLP Annual Return?

Late filing or non-filing of LLP Annual Return or Statement of Accounts and Solvency before the due date will attract a penalty of Rs.100 for each day of default.

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