Annual filing for Limited Liability Partnership

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We, at K M Gatecha & Co LLP, provide Annual filing for Limited Liability Partnership (LLP) services along with numerous other services such as accounting services, audit services, company registration services, GST filing, returns and refund services, Income Tax returns preparation and filing services to our clients in an efficient and hassle-free manner.We also believe in providing our clients with the complete knowledge about the service that they are looking to avail.

Annual filing for Limited Liability Partnership

Annual filing for Limited Liability Partnership

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

  • Collection of documents,
  • Evaluation of documents,
  • Preparation of financial statements,
  • Filling and filing for form 8 and 11,
  • Income tax returns filing,
  • Tax audit services (if applicable),
  • Acknowledgement,
  • Completion of annual filing of 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,

    FAQS on Annual filing for Limited Liability Partnership

    • A Limited Liability partnership needs to file the following annual returns:
    • If the LLP is not audited, then last date for filing ITR-5 is 31st July after end of financial year and if the LLP comes under the purview of tax audit, then 30th
    • No, ADT 1 is not applicable on limited liability companies (LLP), it is applicable on companies.
    • 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., 30th 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.
    • When an LLP fails to file any annual returns then the LLP is liable to pay INR 100/- per day per return.
    • The partners appoint an auditor or auditors when the designated partners have power to appoint and have failed to do so.
    • Tax audit Form No. 3CA is applicable for LLP.

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