Annual filing for Limited Liability Partnership

Annual filing for Limited Liability Partnership (LLP) provided at K M Gatecha & Co LLP:

Process of Annual filing for Limited Liability Partnership (LLP) services:

Documents required for Annual filing for Limited Liability partnership (LLP):

Turnover details,
Declaration regarding filing of a statement indication creation of charges/modifications/satisfaction until the current financial year.
Declaration that the preparation and maintenance of books of accounts has been done with utmost care and responsibility,
Financial statements,
Disclosure under Micro, small and medium enterprises (MSME) development Act,2006,
Statement of contingent liabilities if any,
Statement for partner information and contributions made,
Information of other companies or LLPs in which partners hold a similar position to the LLP filing returns,
Income Tax returns,

Pre-requisites for Annual filing for Limited Liability partnership (LLP):

Form 8 needs to be digitally signed by minimum of two designated partners of LLP or authorized representatives of a Foreign LLP if the turnover is less than or equal to INR 40lakhs and partner’s obligation of contribution is less than or equal to INR 25 Lakhs,
Financial statements are to be tax audited and certified by the auditor of the LLP if the turnover of LLP is above INR 40 Lakhs or contribution of partners is more than INR 25 lakhs,
If turnover does not exceed INR 5 Crores and partner contribution does not exceed INR 50 lakhs, then form 11 can be digitally signed by designated partner. Otherwise, the form 11 needs to be certified by a company secretary in full-time practice,

A Limited Liability partnership needs to file the following annual returns:
- Annual returns (form 11),
- Income Tax returns (ITR-5),
- Statements of Accounts (form 8).

If the LLP is not audited, then last date for filing ITR-5 is 31^st July after end of financial year and if the LLP comes under the purview of tax audit, then 30^th

Is LLP required to file ADT 1?

No, ADT 1 is not applicable on limited liability companies (LLP), it is applicable on companies.

Is ROC filing mandatory for LLP?

Yes, it is mandatory for every LLP to file Form 11 with the Registrar of Companies every year within 60 days of end of financial year.
Also form-8 has to be filed by an LLP withing 6 months of end of financial year (i.e., 30^th October).

When an LLP crosses a turnover of INR 40 lakhs or when a partner’s obligation crosses INR 25 lakhs then the LLP needs to get the statement of accounts audited.