Every LLPs incorporated in India must comply with the rules and regulations of the Governing Laws and mandatorily file various forms, returns and documents with the ROC. LLP registered in India governed by LLP Act and is required to file LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually with the Registrar. The ‘Annual Return’ is required to be filed within 60 days of close of the financial year and ‘Statement of Accounts & Solvency’ shall be filed within 30 days from the end of six months of the financial year. Every LLP has to maintain uniform financial year ending on 31st March of a year. Hence, LLP annual return is due on 30th May and the Statement of Account & Solvency is due on 30th October of each financial year. To avoid penalties and fines, it is mandatory to comply with all compliances applicable to your company. 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.
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. Audit of accounts of LLP is not mandatory 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. Compliance Advisor can help to file the Annual Forms for your LLP
LLP Agreement.
Certificate of Incorporation.