LLP Annual Compliance
Limited Liability Partnership (LLP) is one of the most preferred forms of business entities in India due to its benefits like limited liability, ease of management, and less regulatory burden compared to traditional companies. However, LLPs are still required to meet specific annual compliance requirements as per the LLP Act, 2008 and other statutory laws. Failure to comply can result in heavy penalties and legal complications.
If you are running an LLP in India, especially through a tax-related consultancy like Legal Aerrow, it is essential to understand the LLP annual compliance requirements and fulfill them on time to maintain your business’s legal and operational standing.
Compliance Consultant for LLP
Navigating through various regulatory filings, deadlines, and documentation can be daunting for any business owner. This is where LLP compliance consultants come into the picture. Hiring a professional ensures that:
Mandatory Documents for LLP Annual Compliance
For timely and accurate compliance, the following documents are mandatory:
- PAN Card and Incorporation Certificate of the LLP
- LLP Agreement
- Bank Statements of the LLP for the financial year
- Financial statements (Profit and Loss, Balance Sheet)
- DSC (Digital Signature Certificate) of Designated Partners
- Form 8 – Statement of Account & Solvency
- Form 11 – Annual Return
- Income Tax Return (ITR) Acknowledgement
Pricing for LLP Annual Compliance Services
At Legal Aerrow, we believe in providing affordable, transparent, and value-driven service packages. Our LLP Annual Compliance Package starts at just ₹4,999/- (exclusive of GST), which includes:
LLP Compliance Implementation Process
Step 1:
Bookkeeping and Finalization of Accounts
We begin by collecting bank statements and invoices for the financial year and preparing books of accounts
Step 2:
Filing Form 11 (Annual Return)
- Due Date: 30th May every year
- This form includes basic details of the LLP, such as partners’ information and capital structure.
Step 3:
Filing Form 8 (Statement of Accounts and Solvency)
- Due Date: 30th October every year
- Includes details of assets, liabilities, income, and expenditure.
Step 4:
Income Tax Return Filing (Form ITR-5)
- Due Date: 31st July (Non-audited LLPs), 31st October (Audited LLPs)
Step 5:
Audit (If Applicable)
If your LLP crosses the threshold limit, we help arrange a statutory audit and file the audit report along with ITR.
Major Advantages of LLP Annual Compliance
Complying with annual requirements isn’t just about avoiding penalties. It also brings several strategic advantages:
Regular compliance also ensures your LLP doesn’t face the risk of being struck off by the Ministry of Corporate Affairs (MCA).