LLP Annual Filing

Every LLPs incorporated on or after October 1st of an year shall file Annual Return in Form 11 and Balance Sheet in From 8 with Registrar of Companies. LLPs incorporated in one financial year shall file Tax returns in the next financial year (April to March)

LLP Annual Filing


LLP is a body corporate and is required to file returns periodically with the Registrar. To ensure transparency, these returns are available to the public for inspection. The LLP Act made it mandatory for LLPs to file Annual Return and Balance Sheet every year whether the LLP do business or not. As per LLP act, date for filing returns are as given below.

Timeline

  • Annual Return 30th of May
  • Balance Sheet 30th October
  • Tax Return 31st July(No Audit),31st September(Audit Applicable)

How We Helps LLPs in Annual Filing?

  • Free Consultation
  • Prepare Balance Sheet
  • Prepare Form 8/11 and file with Registrar of Companies
  • Prepare and file ITR

Annual Return

Every LLP shall file an annual return in Form 11 within 60 days of closure of a financial year. The Annual Return contains details of LLP Registered office address, details of partners, details of designated partners, LLP contribution profit sharing ratio etc. So, the filing of Annual Return has to be done on or before 30th May of every year. In case of LLP with turnover of more than five crore rupees in a financial year or a contribution of more than fifty lakh rupees, the annual return shall be certified by a Company Secretary in Practice.

Statement of Accounts and Solvency (Accounts)

Every LLP has to maintain books of accounts as per double entry system of accounting and has to prepare a Statement of Accounts and Solvency (Accounts) every year ending on 31st March and shall file the same in Form 8 with the Registrar, within 30 days from the end of six months of the financial year. In case of LLPs with a turnover exceeding forty lakh rupees in any financial year or with a contribution exceeding twenty-five lakh rupees, the accounts of LLP have to be audited by a chartered accountant. For LLP, financial year means the period from the 1st of April of a year to the 31st March of the following year. So, the filing of accounts has to be done on or before 30th October of every year. In the case of an LLP that is registered on or after the 1st of October of a year, the financial year may end on the 31st march of the year following the next year. (For example, an LLP registered on 01st October 2016, the financial year can be 31st March 2017).

Income Tax Return

As per Income Tax Act, an LLP has to close its financial year as on 31st March every year and has to file the returns with Income Tax Department. If the annual turnover of an LLP is more than one hundred lakhs rupees, the accounts have to be audited by a Chartered Accountant as required under Income Tax Act.

Process involved in LLP Annual Filing


Preparation of Annual return

Based on the LLP partners details and changes happened last year. Annual Return is prepared and filed

Balance Sheet

Last year business transaction and volume of activity taken into account. Please note that above fee is only applicable for limited business transaction

Filing

Once all documents are prepared, after execution, our support team will file with MCA and income tax department

Requirements


Annual Return

Can be prepared from LLP changes during the last year.

Balance Sheet

LLPs books of account need to create balance sheet and profit and loss account. If LLP does not have any business last year, based on Bank statement, we can close

Documents Required


Books of Accounts

Balance sheet and profit and loss is prepared based on the books of the LLP maintained under respective rules

If no business carried, we can create books from the bank statement

Documents required
  • Accounting data

  • Bank Statement

  • Cash Book

9000



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How it works

  • Place Order

  • Submit Data

  • Prepare Balance Sheet and Annual Return

  • Filing with MCA and IT

FAQ

Frequently Asked Questions on LLP Annual Filing

What is the financial year for an LLP?

Financial Year for an LLP means the period from 1st April of a year to the 31st March of the following year.

What is the due date of filing LLP Annual return – Form 11?

All LLPs shall file annual returns by 30th May of every year for the financial year ending on the 31st March of that year.

What is the due date for filing LLP Accounts – Form 8 ?

Every LLP shall file Statement of Accounts and Solvency by 30th October of every year for the financial year ending on 31st March of that year.

Is it mandatory to file the returns when LLP is not doing any business?

Filing of returns is mandatory whether the LLP has done any business or not.

Is account auditing mandatory for every LLP under LLP Act?

No. Audit of accounts is required only when an LLP's turnover exceeds forty lakh rupees in any financial year, or when the contribution exceeds twenty-five lakh rupees.

What are the audit requirements applicable to LLP?

LLP Act: Audit of accounts is required under LLP Act when the turnover of LLP exceeds forty lakh rupees in any financial year or when the contribution exceeds twenty-five lakh rupees. Income Tax Act: Audit of accounts is required under Income Tax Act when the annual turnover of LLP is more than one hundred lakhs rupees.

Is the filing of Statement of Accounts and Solvency the same as income tax return?

No. Filing Statement of Accounts and Solvency in Form 8 with the Registrar is as per LLP Act not under Income Tax Act. So, Income Tax return is to be filed separately.

Is the audit of accounts under LLP Act same as the audit under Income Tax Act?

No. Audit of accounts under LLP Act is different from audit under income tax Act.

Are there any certifications required for LLP returns?

In case of LLPs with turnover more than five crore rupees in a financial year or contribution more than fifty lakh rupees, the annual return shall be certified by a Company Secretary in Practice.

Who is responsible for filing the LLP returns?

The designated partners of LLP are responsible for filing the LLP returns

Is there any penalty for non-filing of Annul Return and Accounts?

Yes. If the filing is not made within the time stipulated, there will be a fine of is Rs.100 per day after the due date subject to a maximum of Rs.30000/-

LLP Annual Filing

Rs.6050.00

Rs.12000.00

Rs.4999.00

Rs.4999.00

Rs.4999.00

Rs.4999.00

Rs.4999.00

Rs.4999.00

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