LLP Annaul Filing
Simple Returns Process
LLPs need only file their returns on an annual basis. With CAFilings excellent support at best price, LLP Annual return filing is a simple process.
What is LLP Annual Return Filings?
In India LLPs must file its Statement of Account & Solvency within 30 days from end of six months from the date of closing of financial year and Annual Return within 60 days from the date of closing of financial year. It is mandatory for LLPs to maintain their financial year, as April 1st to March 31st. Therefore, their Statement of Account & Solvency is due on 30th October & annual return is due on 30th May of each financial year. If incorporation of LLP was on or after 1st of October of a financial year, in that situation it can close its first financial year either on the coming or next 31st March, and subsequently filing its annual return after 18 months.
LLPs are separate legal entities, unlike as Companies; therefore, the designated partner is responsible to maintain proper book of accounts and file annual return with the MCA each financial year and maintain compliance. LLP do not have to get their accounts audited unless it satisfies the condition that its annual turnover exceeds Rs.40 lakhs or if the contribution exceeds Rs.25 lakhs. This makes the annual filing process a simple and easy one. CAFilings can assist file the Annual return for your LLP.
- Annual return filing
- ITR filing
- Compliance management
- Annual return filing
- ITR filing
- Compliance management
- Annual return filing
- ITR filing
- Compliance management
Highlights of LLP Annual Return Filings
Annual Return
All LLPs in India has mandatory to file annual return. The annual return must be filed in the prescribed format with the Ministry of Corporate Affairs electronically.
Statement of Accounts and Solvency
All LLPs in India has mandatory to file Statement of Accounts and Solvency. This Statement is related to financial position of the LLP & contains a declaration by the designated partners.
Annual Return Due Date
Annual return of a LLP is due within 60 days from the date of closing of financial year. So, Annual return of a LLP is due on or before May 30th of each financial year.
Statement of Accounts and Solvency Due Date
Statement of Accounts and Solvency of a LLP is due within 30 days from the end of six months from the date of closing of financial year. So, the Statement of Accounts and Solvency of a LLP is due on or before October 30th of each financial year.
Newly Incorporated LLP
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 and subsequently filing its annual return after 18 months.
Penalty for Late Filing
Filing of LLP Annual Return or Statement of Accounts and Solvency after the due date will attract a penalty of Rs.100 for each day of default. Further, it is best to file within time as the penalty doesn't have a ceiling.
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Process of LLP Return Filing
LLP Annual Filing
CAFilings can assist to file with the Ministry of Corporate Affairs the mandatory annual return for your LLP and maintain annual compliance.
Annual Return Preparation
CAFilings compliance expert will prepare your Annual return based on the financials and performance during the previous financial year.
Annual Return Verification
CAFilings compliance expert will prepare your Annual Return in the required format on the basis of details submitted and send for your verification, approval and affixing the digital signature.
Finalization
After your approval our expert will file your Annual Return with the Ministry of Corporate Affairs along with the necessary attachments.
