Domiyance Finance Consultancy LLP

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Annual Return of LLP

LLP Annual Returns are to be filed in the prescribed Form-11. This form is considered as the summary of management affairs of LLP, like numbers of partners along with their names. Moreover, the form 11 has to be filed by 30th May every year. File early to avoid the late fine.

Cost of LLP Annual Compliance Filing. resonable Pricing. No Hidden Charges | For upto 25 annual Transactions

Basic

₹ 1,499/-

  • Two Digital Signature
  • DIN For Two Directors
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Silver

₹ 2,999/-

  • Two Digital Signature
  • DIN For Two Directors
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Advanced

₹ 5,999/-

  • Two Digital Signature
  • DIN For Two Directors
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Annual Return for the LLP: overview

Limited Liability Partnerships are separate legal entities; hence, it is the duty of the elected partners for maintaining a proper book of accounts and filing an annual return with the Ministry of Corporate Affairs (MCA) annually. LLPs are not required to audit their books of account except where their annual turnover is more than Rs.40 lakhs or if the contribution is more than Rs.25 lakh. LLPs are mandatorily required to maintain the financial year, from 1st April to 31st March. Hence, the Statement of Account & Solvency is to be filled on or before October 30th of every financial year and the annual return for LLPs is due on May 30th every year even if the LLP has not completed any business in that specific financial year. Some of the annual filings are mandatory whether the LLP has begun any business or not. Non Compliance of yearly filing of ITR and ROC Returns by the LLP result in severe consequences in heavy fines and penalties. The applicability and the due date for filing ROC Annual Return are based on the date of incorporation of the LLP. 

Due Dates of LLP Annual Compliance

The applicability for filing of ITR and the ROC Returns for an LLP is determined by its incorporation date. The annual filing is applicable for the LLP that came into existence on or before 31st March . The following table shall help you understand the applicability of the respective annual filing.

S.NoCompliance TypeDue Date Incorporated on or After 1st OctoberIncorporated on or Before 30th SeptemberPenalty of Non Compliance
1.
DIN KYC
30 Sep

 

 
Rs. 5000 for Each Partner
2.
Partners ITR
31 July
 
 
Rs. 1,000 to 10,000 based on Income
3.
ITR of LLP
31 July
 
 
Rs. 1,000 to 10,000 based on Income
4.
Form 11
30 May
No
 
Rs. 100 for Each day of delay
5.
Form 8
30 Oct
No
 
Rs. 100 for Each day of delay

Annual Filing for the partners of the LLP

The Partners of the LLP are required to file following annual compliance. The DIN KYC is required to be filed with the ROC and ITR to the Income Tax Department before their due date.

DIN KYC Filing: The DIN KYC filing by each partner allotted the DIN Number on or before 31st March is mandatory. The last date for filing the DIN KYC is 30th September. If a person does not file the DIN KYC within its due filing date, then an additional fee of Rs. 5000/- is levied to reactivate the DIN.

Individual ITR of Partners:
As an Individual, every partner & designated partner is an assessee under the Income Tax and must file their Individual ITR within its due date. 31st July is the last date for filing an Individual ITR. We have affordable packages for filing ITR for the partners/designated partners of the LLP.

Annual Return of LLP: Form 11

Every LLP has to file an annual return in Form-11 to the ROC within 60 days of ending the financial year. Any LLP incorporated until 30th September is required to file their annual return to the ROC in the prescribed Form-11 in the next financial year. The due date for filing Form-11 is 30th May for the LLP Incorporated during FY or prior to that. The annual filing by the LLP is mandatory even if there is no business transaction & is applicable equally to all LLPs irrespective of their turnover or activities.
The purpose of annual return filing by the LLP in Form-11 is intended to report every material change in the LLP during the previous financial year, such as the registered address, change in partner etc. The designated partners are jointly and severally responsible for filing the said annual return of the LLP. The government fee for filing Form 11 is only Rs. 50/-, However, in the case of non-filing, an additional fee/late fee of Rs. 100 is imposed for every day of delay.

Income Tax Return of the LLP: form itr 5

Besides the MCA annual return filing, the limited liability partnerships must also mandatorily file the income tax return every year. The income tax rate applicable for LLPs registered in India is 30% of the total income. Besides the income tax, a surcharge is levied on the income of the tax payable at the rate of 12% when the total income is exceeding Rs.1 crore. LLPs must file an income tax return using Form ITR 5. Form ITR 5 can be filed online through the income tax website using the digital signature of the designated partner. After filing an LLP tax return, the taxpayer should print two copies of Form ITR-V.