LLP Annual Filing




Limited Liability Partnerships (LLPs) are hybrid business entities that offer the benefits of a partnership and the protection of a limited liability company. LLPs are required to comply with various legal and regulatory requirements, including the filing of annual returns and financial statements with the Registrar of Companies (ROC).

The LLP annual filing is a mandatory requirement under the Limited Liability Partnership Act, 2008, and the LLP Rules, 2009. Every LLP registered in India is required to file its annual return in Form 11 and financial statements in Form 8 with the ROC. The annual return includes information such as the LLP's registered office address, partners' details, and the nature of the business. The financial statements comprise of a balance sheet, profit and loss account, and a statement of changes in partners' capital.

The due date for LLP annual filing is on or before 30th May of each year. However, the filing of the financial statements is subject to the LLP's financial year-end. The financial year-end is the date on which the LLP's financial statements are prepared and is determined at the time of incorporation.

Late filing or non-filing of the LLP annual return and financial statements attracts penalties, including a late fee of Rs.100 per day, subject to a maximum of Rs.5,000. Non-filing or late filing beyond 12 months from the due date may result in the LLP being declared as a 'defaulting LLP,' and the partners may face prosecution under the LLP Act.

LLPs with a turnover of less than Rs. 40 lakhs and a capital contribution of less than Rs. 25 lakhs are exempt from the mandatory audit of their financial statements. However, such LLPs are still required to file their financial statements with the ROC.

In conclusion, the LLP annual filing is an essential compliance requirement that LLPs must fulfill to avoid penalties and legal consequences. It is recommended that LLPs seek the assistance of professional service providers to ensure timely and accurate filing of their annual return and financial statements.

Location: India

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