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 end of financial year. LLPs in India must keep their financial year from April 1st to March 31st.
Decision: Is annual compliance must for an LLP or good to have activity?
It is 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.