LLP Compliance
Complete compliance services for Limited Liability Partnerships - ROC filings, annual returns, and income tax compliance
- Form 8 & Form 11 Filing
- Income Tax Return (ITR-5)
- Statutory Audit Support
- LLP Agreement Filing
- Designated Partner KYC
- Compliance Calendar
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8 REASONS FOR LLP
COMPLIANCE
Legal Requirement
Mandatory under LLP Act 2008 and Income Tax Act
Avoid Penalties
Non-compliance attracts ₹100/day penalty per form
Active Status
Maintain active status with MCA and avoid striking off
Banking Requirements
Banks require updated compliance for loans and credit
Business Credibility
Compliance builds trust with clients and partners
Tax Benefits
Proper compliance ensures tax deductions and benefits
Smooth Operations
Avoid regulatory interruptions and legal issues
Growth & Expansion
Compliance enables smooth business growth
What is LLP Compliance?
A Limited Liability Partnership (LLP) is a legal entity that combines the features of a corporation and a partnership firm. In an LLP, partners have limited liability, meaning they are not personally liable for the debts of the LLP beyond their contribution. Partners are also not responsible for the negligence or misconduct of other partners. LLPs must be registered under the Limited Liability Partnership Act, 2008.
LLP compliance involves filing annual returns with the Ministry of Corporate Affairs (MCA), maintaining proper books of accounts, getting accounts audited (if turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh), filing income tax returns (ITR-5), filing LLP Agreement within 30 days of incorporation, and ensuring compliance with all provisions of the LLP Act and Income Tax Act.
Annual compliance is mandatory for all LLPs, even if there is no business activity, no bank account, or the LLP is closed down. The financial year for LLPs is from 1st April to 31st March. Timely compliance ensures the LLP maintains its active status, avoids penalties, and can continue operations smoothly.
Needs for LLP Annual Compliance
It is important for LLPs to follow the financial year starting from 1st April to 31st March. Every registered LLP must stick to its annual compliance even if there is no business activity.
No Business Activity
Compliance required even with zero transactions
Closed Down
Annual compliance must be met until struck off
No Bank Account
Filing mandatory even without active banking
Important: It is essential to meet annual compliance of LLP regardless of business status. Non-compliance can lead to penalties, striking off, and legal consequences.
Annual Compliance of LLP
Form 8 - Statement of Account and Solvency
Filing Format:
Filing is to be done in the prescribed format according to LLP Form 8
Book of Accounts:
Maintain books of accounts according to the Double Entry method. Form 8 includes a declaration mentioning solvency of the LLP from its details of the statement of liabilities and assets as well as LLP's statement of income and expenditure.
Certification:
Must be certified by a practicing Chartered Accountant, Cost Accountant, or Company Secretary
Due Date:
Must be filed within 30 days within 6 months since when financial year is closed. This is by 30th October in every financial year.
Audit Requirement:
LLPs having turnover exceeding ₹40 lakh or contribution exceeding ₹25 lakh require their books of accounts audited by an experienced Chartered Accountant.
Form 11 - Annual Return
Filing Format:
Filing must be done by using LLP Form 11
Filing Authority:
The return is to be filed with the Registrar of Companies
Due Date:
Filing annual return should be completed within 60 days since the end of the financial year. This should be done by 30th May each year.
Income Tax Return Filing for LLP
ITR-5 Filing:
Form ITR-5 should be used to file income tax return of the LLP. By using digital signature of the designated partners, you may download or file income tax return online.
Financial Year:
According to the Income Tax Act, all LLPs must complete their financial year by 31st March and file income accordingly with the IT Department.
Audited Accounts:
LLPs with annual turnover exceeding ₹40 lakh require to audit their books and complete filing of income tax return by 30th September each year.
Non-Audited Accounts:
LLPs whose accounts are not needed to be audited must file their returns by 31st July every year.
Form 3CEB (International/Domestic Transactions):
LLPs which are involved in international transactions or to manage particular domestic transactions need to file Form 3CEB. Only a qualified Chartered Accountant can certify the form which is to be submitted by 30th November every year.
Characteristics of LLP
Separate Legal Entity
LLP is a separate legal entity distinct from its partners
Body Corporate
LLP is a body corporate with perpetual succession
Limited Liability
Partners have limited liability to extent of their contribution
Perpetual Succession
LLP continues to exist even if partners change
Partnership Act Not Applicable
LLP Act 2008 governs, not Indian Partnership Act 1932
Profit Motive
LLP is formed for profit-making business activities
Compliance After Incorporation
LLP Agreement Filing (Within 30 Days):
It is mandatory by the LLP to implement and to file the LLP agreement within 30 days of its development. The agreement reveals the rights and duties of the partners and the LLP.
According to the LLP Act, if an agreement is not made, then rights and duties must be according to the Schedule 1 of the Act. It is necessary to make an LLP Agreement and file it with the Ministry of Corporate Affairs.
Penalty: In case filing the Agreement cannot be done within the specific period then it is responsible to be fined at the rate of ₹100 per day.
PAN & TAN Application
LLP is ready to apply for the LLP PAN and TAN after incorporation.
Bank Account
Make LLP Bank Account in the name of the LLP.
Stationery
It is essential to be purchased and have it in stationery made after its incorporation.
First Year Compliance:
Within 1 year of annual compliance, there is an annual compliance. Even an LLP is not having any activity, it is necessary to make annual compliance.
Provisions for Penalty
For Filing with Ministry of Corporate Affairs:
Under the Limited Liability Partnership Act, 2008, filing of Form 8 and Form 11 is a compulsory need for each registered LLP. Non-compliance can lead to a penalty.
The penalty amount is ₹100 per day for each form not filed. An upper limit is mentioned for such penalty amount.
For Filing Income Tax:
Penalty for Income Tax return not filed on time is clear. LLPs who miss the filing on due date can be summoned and receive an order.
₹50,000 is to be paid by LLPs that cannot show in the estimated income.
Annual Compliance Requirements Summary
Statement of Account and Solvency
File within 30 days of 6 months from FY end. Must be certified by CA/CS/CMA
Annual Return
File within 60 days of FY end with Registrar of Companies
Income Tax Return
File with digital signature of designated partners
International/Domestic Transactions
File if involved in international or specified domestic transactions
Our LLP Compliance Services
Form 8 & Form 11 Filing
Complete filing of Statement of Account and Annual Return with MCA
Income Tax Return (ITR-5)
ITR-5 filing with digital signature of designated partners
Statutory Audit
Coordination with CA for audit if turnover exceeds limits
LLP Agreement Filing
Filing of LLP Agreement within 30 days of incorporation
Form 3CEB Filing
Filing for international/domestic transactions if applicable
Designated Partner KYC
Annual KYC for all designated partners with DIN
Books Maintenance
Proper maintenance of books of accounts as per Double Entry method
Event-Based Filings
All change-related filings like partner changes, address change
PAN & TAN Support
Assistance in obtaining PAN and TAN for the LLP
Compliance Calendar
Personalized calendar with all due dates and reminders
Documents Required
1LLP Documents
- ✓ Certificate of Incorporation
- ✓ LLP Agreement
- ✓ PAN & TAN of LLP
- ✓ Previous Financial Statements
- ✓ Previous Year ITR & Acknowledgment
2Partner Details
- ✓ PAN & Aadhaar of Partners
- ✓ Address Proofs of Partners
- ✓ Designated Partner Identification Number (DPIN)
- ✓ Digital Signature Certificate (DSC)
- ✓ Partner Appointment Documents
3Financial Records
- ✓ Books of Accounts (Double Entry)
- ✓ Bank Statements (All accounts)
- ✓ Purchase & Sales Records
- ✓ Expense Vouchers
- ✓ Statement of Assets & Liabilities
4Office Documents
- ✓ Registered Office Address Proof
- ✓ Rent Agreement or Property Documents
- ✓ Electricity Bill
- ✓ Property Tax Receipt
- ✓ NOC from Owner (if rented)
Important Note:
LLPs must maintain proper books of accounts using Double Entry method. All financial records must be properly documented for Form 8 filing and audit purposes.
LLP Compliance Process
Complete annual compliance in systematic steps
Books
Finalize Accounts
Audit
CA Audit (if required)
Form 8
File Statement
Form 11
File Annual Return
ITR-5
File Income Tax
3CEB
File if applicable
Compliance
Complete
Frequently Asked Questions
Q1.What is called Annual Return for LLP?
Q2.What is known as Statement of Accounts and Solvency?
Q3.What is due date to file annual return of LLP?
Q4.What penalty is associated for not filing annual return of LLP?
Q5.Which LLPs needed to get their accounts audited?
Q6.Is tax return compulsory by LLPs?
Q7.Is appointment of auditor mandatory for LLP?
Q8.What is the financial year for LLPs?
Q9.Can an LLP file returns if there is no business activity?
Q10.What is Form 3CEB and when is it required?
Why Choose Our LLP Services?
LLP Expertise
Specialized knowledge of LLP Act 2008 and compliance requirements
Complete Compliance
All MCA and tax filings handled professionally
Timely Filings
Never miss deadlines - avoid ₹100/day penalties
Cost Effective
Affordable compliance services starting at ₹11,000/year
Audit Support
Complete coordination with statutory auditors
Books Maintenance
Proper Double Entry bookkeeping and accounting
Partner Support
Complete designated partner KYC and management
Active Status
Ensure your LLP maintains active status with MCA
Peace of Mind
Focus on business while we handle all compliance
Maintain Your LLP Compliance Effortlessly
Focus on growing your business while we handle all compliance requirements