LLP Annual Compliance

Basic Package

3500 + Govt Fee

  • Annual return filing with a turnover of less than Rs.10 lakhs per annum
  • Income tax return filing with a turnover of less than Rs.10 lakhs per annum
  • Compliance management with a turnover of less than Rs.10 lakhs per annum

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Gold Package

8000 + Govt Fee

  • Annual return filing with a turnover of less than Rs.50 lakhs per annum
  • Income tax return filing with a turnover of less than Rs.50 lakhs per annum
  • Compliance management with a turnover of less than Rs.50 lakhs per annum

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Platinum Package

15000 + Govt Fee

  • Annual return filing with a turnover of less than Rs.1 Crore per annum
  • Income tax return filing with a turnover of less than Rs.1 Crore per annum
  • Compliance management with a turnover of less than Rs.1 Crore per annum

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What is LLP Annual Compliance

An LLP (Limited Liability Partnership) company in India has to file the annual return within 60 days from the end of close of financial year to maintain compliance and to avoid the heavy penalty for non-compliance. It’s also compulsory to file Statement of Account & Solvency within 30 days from end of six months of the close of financial year. LLPs in India must keep their financial year from April 1st to March 31st. LLP Annual compliance consists of below activities

  1. LLP annual return must get filled before May 30th of each financial year
  2. LLP Account & Solvency must get filled before October 30th of each financial year.
  3. LLP must file Income tax return each year irrespective of income, profit or loss.

In addition to above mandatory compliance, LLP must also file income tax return, GST return as per MCA guidelines.

Decision

Is annual compliance must for an LLP or good to have activity?

It’s mandatory for an LLP to file annual compliance and other tax-related returns. Failing which will lead to heavy penalties or your LLP in Defaulter list of ROC. 

 Next step is to understand various implications.

Benefits

  • Free from any kind of MCA penalty
  • Have a complete eye on your expenses & earnings
  • Transparency in doing business
  • More credibility in the market
  • Avoid being in the defaulter list of ROC

Three Easy Steps for LLP Compliance

  1. Connect to Corpseed team
  2. Provide necessary documents required for compliance & other filing activities.
  3. Our compliance expert will help your LLP in maintaining accounts and will prepare the financial statements, file form 11 and form 8.

Corpseed Procedure for LLP Compliance

  • Step 1: - Corpseed received your request for LLP compliance
  • Step 2: - We will assign a dedicated resource who is professionally skilled in company compliance. The allotted resource will help you to maintain the compliance for your LLP. You can get in touch with the assigned resource at any point of time for consultation and assistance regarding compliance throughout your journey with Corpseed.
  • Step 3: - Our resource will help your LLP to maintain accounts and prepare the financial statement for each year.
  • Step 4: - Our resource will collect all the required documents/information and file form 11 for your LLP before 30th May each financial year.
  • Step 5: - Our resource will collect all information and file form 8 for your LLP before 30th October each financial year.
  • Step 6: - Our resource will file your LLP income tax return with MCA along with the mandatory documents after getting final confirmation from your finance team if required.
  • Step 7: - Our resource will help your LLP in accounts audit.
  • Step 8: - Our resource will draft minutes of meetings, notices and will also maintain the statutory register.
  • Step 9: - Above 8 steps completes your LLP compliance under Companies Act 2013.

Frequently asked questions (FAQs)

Corporate compliance is a set of checks set by MCA and the Company Act 2013 to have an eye on company’s financial as well as operational activities

Annual Filing, Disclosure by Directors, Drafting of Annual return, Minutes, notices, various Certifications, form 11 & 8 and updating the Statutory Register.

Ministry of Corporate Affairs (MCA) & The Company Act 2013

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