A Limited Liability Partnership (LLP) is a separate legal entity just like Companies governed by the provisions of Limited Liability Partnership Act, 2008 which specifies the duty of the partners so elected for maintaining the proper book of accounts and filing the same in form of an annual return with the Ministry of Corporate Affairs (MCA) on annual basis.
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A Limited Liability Partnership (LLP) is a separate legal entity just like Companies governed by the provisions of Limited Liability Partnership Act, 2008 which specifies the duty of the partners so elected for maintaining the proper book of accounts and filing the same in form of an annual return with the Ministry of Corporate Affairs (MCA) on annual basis. The LLP is not required to get the statutory audit done of its books of account except if the annual turnover exceeds Rs.40 lakhs or where the contribution exceeds Rs.25 lakh. Hence, it is not mandatory for the LLP not falling in the mentioned limit to get their books of account audited. Hence, making the process of annual filing more simpler.
In case Limited Liability Partnership two returns are mainly required to file i.e. the Statement of Account & Solvency within a time period of thirty (30) days from the end of the six (6) months of the financial year and an Annual Return within a period of sixty (60) days from the end of the financial year. The LLP's are compulsorily required to maintain the Financial Year i.e. from 1st April to 31st March. Henceforth, the Statement of Account & Solvency shall be filled on or before 30th October of every financial year and the annual return for LLPs becomes due on 30th May every year even irrespective of the fact that the LLP has not completed its business in that particular financial year. Some of the forms for annual compliances are required to be mandatorily filed even if the LLP has begun any business or not.
The primary requirement for any business is Compliance of law. If the LLP is abiding by the laws it attracts the potential customers to the LLP as the date of the Limited Liability Partnership's annual filing is displayed on the Master Data on MCA portal which also helps in getting the Government tenders, availing of loan facility from Banks and Financial Institutions approvals for similar other purposes. As it is the major criterion to measure the credibility of an organization.
In order to maintain the active status of LLP it is necessary to file the returns on a continuous basis which helps in avoiding the charges of heavy penalties. If the LLP doesn’t comply with the provisions and fails to file the returns it may also be removed from the registers of ROC which also affects the status of the concerned partners as they are declared a defaulter and also becomes disqualified from their further appointment in any Company/LLP.
As the forms which are filed by the Limited Liability Partnership are accessible by the companies and other potential investors. Therefore, while making any contract or entering in any major projects, the concerned party can also inspect the Financial worth of an LLP.
The annual filing of a Limited Liability Partnership is very much necessary for the conversion of the LLP into any other organization. If the Limited Liability Partnership has regularly complied with the rules and regulations stated it gives an ease in the conversion task as well as if the case pertains to closure of LLP. Irrespective of the fact that the LLP was non-operational, the Registrar might ask to fulfill the annual compliance, with additional LLP filing fee, if applicable.
You are requested to first fill the simple questionnaire provided by our expert team.
At the second step we will be requiring the documents as stated above in accordance with the questionnaire filled by you so that we can arrange them as per the requirement and for further processing and will also decide the due date of filing the same.
The third step is to draft necessary documents which will be requiring the signatures of the Designated Partners and will be attached as an attachment to the annual compliance forms.
At this step we will prepare the E-forms along with some documents signed by you for submission depending upon your case which shall be further verified by our experts team before submission.
This is the fifth step we will upload your LLP's annual documents on the portal of the Ministry of Corporate Affairs on your behalf.
The status of the form along with the challan generated online will be shared with you on the earliest basis specifying that the compliance has been made. Legal Window has a team of expert professionals like Chartered Accountants, Company Secretaries, Lawyers who take care of all your LLP’s annual compliance requirements. We constantly monitor the compliance calendar chart and send reminders to the company through calls and mails and also offer the best-in-class legal and tax consultation for your LLP.
Every LLP is required to file the Income Tax Returns for a year. In layman's terms, a LLP is a separate legal entity, an LLP is also required to file an Income tax return in which the LLP Income is calculated and the tax liability is assessed and the taxes are paid to the government of India.
Mostly the last date of Income Tax Return is 31st July of the particular year for the Individual and legal entities, but where the Audit is required, the last date is 30th October for a year for filing Income Tax returns.
The NIL Income Tax Return is to be filed with the Income Tax Authorities even though the Limited Liability Partnership has not done any business.
LLPs are required to file Form – 8 with ROC within 30 days from the end of the six (6) months of the financial year i.e by 30th October of the next financial year. In this form the LLP has to report the assets, liabilities, profit & loss generated during the year. The form has to be signed by the designated partners and practicing professionals.
Companies incorporated on or before 30th September 2026 are required to file their financials for Financial Year 26-27 before the due dates. Companies incorporated on or after 1st October 2026 to 31st March 2027 can file their ROC Annual Filings next year by preparing the statement of 18 months.
Every LLP registered with the Ministry of Corporate Affairs (MCA) is required to comply with the regulations as per the LLP Act, 2008. As per the act, LLP is required to file the annual returns and statement of accounts every year. In case the annual turnover exceeds Rs. 40 lakhs or where the contribution exceeds Rs. 25 lakh the LLP is mandatorily required to get the accounts audited by Chartered Accountant. Further if any LLP is incorporated on or after 1st of October of the financial year, then it can file the returns in the next financial year i.e. it can file statements of 18 months.
LLPs are required to file Form – 11 with ROC by 30th May of the next financial year. In this form summary of management affairs, details of partners and their contribution is provided. The form has to be signed by the designated partners and practicing professionals.
In case the companies are unable to file Form 8 and Form 11 before the due date, they will be liable for an additional fee of Rs. 100 per day till the date of filing.
| Name of Form | Contents | Timeline |
|---|---|---|
| Form 8 | Statement of Accounts and Solvency | 30th October 2027 |
| Form 11 | Annual Return | 30th May 2027 |
