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Corporate Compliance - LLP Annual Filing

PACKAGES

Basic

Annual return filing, income tax return filing and compliance management for an LLP with a turnover of less than Rs.10 lakhs per annum. 


Rs. 7899
+18% GST applicable

Standard

Annual return filing, income tax return filing and compliance management for an LLP with a turnover of less than Rs.40 lakhs per annum. 


Rs. 11899
+18% GST applicable

Premium

Annual return filing, income tax return filing and compliance management for an LLP with a turnover of less than Rs.100 lakhs per annum. 


Rs. 17899
+18% GST applicable

Maintain LLP Compliance

 

So as to avoid huge penalties and to maintain compliance, a Limited Liability Partnership must file Annual returns. Eazy Startup offers LLP compliance management from a minimum of Rs.7899/-

In India, within 60 days from the close of financial year must the Annual Returns be filed by an LLP. Statement of Account & Solvency must be lodged within 30 days from the end of the financial year. LLPs, unlike companies, must compulsorily maintain the financial year of April 1st to March 31st. The Statement and Solvency is due on October 30th and Annual Return is due on May 30th for each financial year.

Since the LLP is a separate legal entity, the responsibility to maintain proper books and file annual returns with the MCA lies with the Designated Partners. Unless the contribution exceeds Rs.25 lakhs and the annual turnover exceeds Rs.40 lakhs, an audit of the accounts is not necessary for LLPs This makes the annual filing procedure simple. Eazy Startup can file your Annual Returns for your LLP.

REASONS

Annual Return

In India, filing of Annual returns are mandatory by all LLPs. The annual return must be electronically filed in the prescribed format with the Ministry of Corporate Affairs.

Statement of Accounts and Solvency Due Date

In an LLP, the Statement of Accounts & Solvency is due within 30 days from the end of closure of financial year. Hence, it is due on or prior to October 30th of every financial year.

Newly Incorporated LLP

LLP can wind up its first financial year either on coming or next 31st March, if the LLP was incorporated on or after October 1st of financial year.

Statement of Accounts and Solvency

Statement of Accounts & Solvency contains a declaration by the designated partners in relation to the financial position of the entity. In India, it is a mandatory filing for all LLPs.

Annual Return Due Date

For an LLP, Annual Return is due within 60 days of close of financial year. Hence, LLPs Annual Return is due on or before 30th of May each financial year.

PROCESS

Annual Return Preparation

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

Annual Return Verification

The Client’s Finance Team can verify the Annual Return that has been prepared in the prescribed format and can affix the Digital Signature.

Finalization

On verification of the Annual Return, it can be filed with the Ministry of Corporate Affairs along with the necessary attachments. 




FAQ'S

Q: Forms that are to be filed for LLP annual compliance.

A: A LLP should file Form 8 within 30 days of completion of 6months after the end of the financial year and form 11 is to be filed within 60 days after the completion of financial year.

Q: Consequences that are to be faced for not filing the annual returns

A: If there is a default in filing the LLP annual returns, a penalty of Rs. 100 is charged per day till the default continues.

Q: What are the benefits of LLP annual filings?

A: Following are the benefits of filing LLP annual compliances:

  • It improves the credibility of the LLP for gaining the approval for loans and advances
  • It helps in maintaining the data regarding financial worthiness of the firm.
  • By filing regularly, it helps the firm to stay active and there is no chance of incurring penalties
  • In case of conversion or closure, regular filing of the LLP annual compliances helps in boosting up the process.

Q: Documents required for LLP annual filing

A: The statements of accounts and disclosures under MSME act if applicable are required for filing LLP annual compliance.