What is meaning of LLP Annual Filing?
Every LLP (Limited Liability Partnership is under an obligation to file an Annual Return of LLP in Form No 11 and its financial statement in Form 8. The LLP being a separate taxable unit is also required to submit Income Tax Return before its due date. These reports are mandatory and attract a harsh penalty if not complied
Need for LLP Annual Return Filing:
FORM 11: A Limited Liability Partnership is a creation of law and has to submit an Annual Return in Form 11 to the RoC within 60 Days of close of the Financial Year. The said annual return contains information about the partners, their contribution to the capital, a summary of changes in the partners of the LLP, its address etc.
FORM 8: An LLP is also required to file a statement of solvency and a summary of its statement of accounts within seven months of closure of the financial year. The statement of account is filed in Form 8. The digital signature of at least two designated partners is required
Timeline of LLP Annual Filing:
Please note every LLP which are registered till the 30-09-2019 have to file Returns for the year ended 31-03-2020.
The Following are the Returns to be filed by an LLP for the year ended 31-03-2020.
A. REGISTRAR OF LLP
FORMS | LAST DATE FOR FILING |
Annual Return (Form 11) | *30-09-2020 |
Accounts (Form 8) | 30-10-2020 |
*Last date of Filing Forms has been extended upto 30/09/2020 under LLP MODIFIED SETTLEMENT SCHEME 2020
B. INCOME TAX RETURN
LAST DATE FOR FILING | |
In case Audit is not required | 31-07-2020 |
In case Audit is required | 30-09-2020 |
Information Note: In case Form 8 and Form 11 are not filed with ROC within due dates then it will attract the Penalty of Rs.100/- Every Day from the date of Due Date.