TAX
PaieOverview of Annual Filing for LLP
Annual filing for an LLP involves submitting mandatory returns to the Ministry of Corporate Affairs (MCA) to ensure compliance. These filings include annual returns, financial statements, and income tax returns, keeping the LLP's legal and financial records up-to-date
Who is applicable for Annual Filing
All Limited Liability Partnerships (LLPs) registered under the LLP Act, 2008Benefits of Annual Filing for LLP
1. Legal Compliance
Avoid penalties and ensure adherence to regulatory obligations
2. Credibility
Builds trust with clients, investors, and financial institutions
3. Transparency
Maintains clear financial and operational records
4. Tax Benefits
Enables proper tax planning and utilization of exemptions
5. Avoidance of Penalties
Prevents hefty fines and legal consequences
Documents Required for Annual Filing for LLP
- LLP Agreement and amendments, if any
- Financial statements (Profit & Loss Account, Balance Sheet, etc.)
- Details of partners and their contributions
- Digital Signature Certificate (DSC) of the designated partners
- Income tax return acknowledgment
- Details of any loans, advances, or liabilities (if applicable)
Step-by-Step Process for Annual Filing for LLP
1. Prepare Financial Statements
Compile and finalize the LLP’s financial accounts
2. File Annual Returns
Form 11 (Annual Return),File within 60 days of the financial year-end.Form 8 (Statement of Account & Solvency),File within 30 days from the end of six months of the financial year
3. Income Tax Return
Submit the LLP’s annual income tax return before the due date
4. Check RoC Updates
Ensure any changes in the LLP’s structure or details are filed (if applicable)
5. Acknowledgment
Obtain filing receipts and confirmations for records
Frequently Asked Questions
What is the due date for filing Form 11 for LLPs?
Is filing Form 8 mandatory for LLPs with no financial activity?
What is the penalty for late filing of annual returns?
Can LLPs with zero revenue skip annual filing?
Do LLPs need to audit their accounts?
Other Services
ROC Filing
Other Services
Add a New Partner in LLP
Adding a partner to an LLP involves updating the partnership agreement and notifying the Ministry of Corporate Affairs (MCA).
ADT-1 Filing
Filing Form ADT-1 informs RoC about the appointment or reappointment of an auditor within the company.
Annual Compliance for One Person Company
OPC compliance includes filing returns, financials, and forms under the Companies Act,2013.
Annual Compliance for pvt ltd
Annual compliance for a Private Limited Company includes filing returns, financials, records, and ensuring governance.
Company Name Change
Changing a company’s name requires shareholder approval and updating legal documents as per MCA rules.
DIR-3 KYC Filing
DIR-3 KYC filing is mandatory for DIN holders to update details with MCA, ensuring DIN validity and transparency.
DPT-3 Filing Online
DPT-3 is an annual return filing requiring companies to report deposits, loans, or advances, ensuring MCA compliance.
Event Based Compliances
Event-based compliances under MCA involve filings triggered by changes like directors, share allotments, or MOA alterations.
Removal of Partner from LLP
Removing a partner from an LLP requires updating the LLP agreement and notifying the MCA to disassociate the partner.
Share Transfer
Share transfer in a Private Limited Company involves transferring ownership between shareholders, following AOA and Companies Act, 2013.
Get In Touch
Whether you're an entrepreneur just starting out or a business looking for expert tax and GST advice, Taxpaie is here to help. Contact us today to learn more about how we can assist you in navigating the regulatory landscape and achieving your business goals with confidence.
Let us handle the complexities, so you can focus on building your future.