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Limited liability partnership (LLP) also has some annual compliance which needs to comply on timely basis. Non Compliance of LLP may cause to some adverse consequences. Every LLP which is registered with Ministry of Corporate Affairs have to file the Annual Returns and Statement of Accounts for each and every financial year. Non filling of Annual Returns and Statement of Accounts to ROC may attracts heavy penalty i.e. Rupees 100/day till the time defaults continues.
Filings of Annual Return (Form 11)
Once LLP Registration completed then LLP's need to file Form 11 within 60 days from end of financial year i.e. 31st March of each year, so last date of filings of Form 11 i.e. 30th May 2018.
Filings of Statement of the Accounts or Financial Statements (Form 8)
- Income Tax Return
As per Income Tax is flat 30% tax applicable to LLP registered in India, total income if exceed to Rs 1 crore then 10% surcharge also applicable. Education Cess 2% applicable + surcharge Secondary and higher education cess of 1% is applicable + surcharge
- Penalty for Non-filing
Non-Filing of Form 8 and Form 11 will be attracts a late fees of Rs 100 per day (One hundred) until your return is filed.
Here are the 3 mandatory compliances which LLP have to do irrespective of their turnover or profit/loss.
| Sl.No |
Form |
Last Date to file |
Documents / information required |
| 01 |
e- Form-8 (Filling of Annual Accounts) |
30th September of Each year |
MSME Disclosure, if any
-Digital Signature of at least 2 director |
| 02 |
e- Form-11 (Annual Return) |
30th May 2018 |
Information on contribution
-Annual financial Statement
-Bank statement for relevant FY
-Statement of contingent liabilities to be attached (if any) |
| 03 |
Income tax return |
30th Sept of Each year |
Bank account statement of relevant year along with DSC and PAN Card of LLP. |
