Annual Compliance for LLP

Escape hefty penalties with timely annual LLP compliance filing

₹ 3,399 (All Inclusive)

Annual Compliance for LLP

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What is Annual Compliances for LLP?

A Limited Liability Partnership enjoys a separate status. Thus, an organization needs to maintain its active status by regularly filing with the Ministry of Corporate Affairs (MCA). Annual compliance filing is mandatory for any LLP, whether having a business or not. Annual compliance for LLP requires filing two separate forms. One of which is for Annual Return, whereas another one is for Statement of Accounts and Solvency.

The forms are filed for reporting the activities and financial data for each financial year in the upcoming year. The failure to fulfill LLP Annual Compliance requirements levies an additional fee of ₹ 100 each day of a delay till the actual date of filing. Hence, apart from the mandate, the heavy penalty compels the Designated Partners to fulfill the requirements.

Benefits of Annual Compliance

Documents required for LLP Annual Filing

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Due Dates for filing Annual Compliance for LLP

LLP Annual Filing in 3 Easy Steps

*Subject to Government Processing Time

Process of LLP Compliances

Explore LLP Annual Compliance Filing

Frequently Asked Questions

LLP Annual Filing is necessary for every LLP since its incorporation. From the closure of its first financial year, the LLP must file both the forms within the prescribed time limit.

The annual compliance is mandatory for every LLP, irrespective of the number of transaction, turnover or commercial activity undertaken.

In case of delay in filing, the LLP is charged with additional Government fee of ₹ 100 for each day of delay. Also, there is no ceiling limit to an additional fee. For continuous failure to annual LLP compliance, the RoC can remove the name of LLP from its register. Also apart from additional fees, the penalty may also be levied to LLP and its partners.

The audited books of accounts are necessary for the LLP falling under any of the below-mentioned criteria:
1) If turnover of the LLP exceeds ₹ 40 Lakh; or
2) Total contribution of Partners exceeds ₹ 25 Lakh.

If LLP does not fall under any of the above criteria, statements with the signature of partners are sufficient.

Due dates of LLP compliance are based on the closure of each financial year. Financial Year of every LLP must be closed on 31st March. However, period of financial year depends on the month of its incorporation:
a) LLPs registered between 1st April and 30th September: The LLP must close its financial year on 31st March of next calendar year. Suppose LLP is registered on 1st May, 2018 , the same should close its financial year on 31st March, 2019.

b) LLPs registered between 1st October and 31st March: The LLP has an option to choose the end of its financial year. For instance if the LLP is registered on 30th October, 2018 the same can close its financial year either on 31st March, 2019 or 31st March, 2020.

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Annual Compliance for LLP

Escape hefty penalties with timely annual LLP compliance filing
Get Started