{"id":2564,"date":"2018-07-25T15:22:04","date_gmt":"2018-07-25T15:22:04","guid":{"rendered":"https:\/\/swaritadvisors.com\/learning\/?p=2564"},"modified":"2021-05-03T15:15:14","modified_gmt":"2021-05-03T09:45:14","slug":"procedure-to-file-annual-return-filing-of-llp","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/learning\/procedure-to-file-annual-return-filing-of-llp\/","title":{"rendered":"How to File Annual Return Filing of LLP?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Each of an LLP which has been a registered one with the MCA or ministry of the corporate affairs has to file a few annual filings each year as it\u2019s a mandatory rule. Now there are three main <strong><a href=\"https:\/\/swaritadvisors.com\/annual-filing-for-llp\" class=\"text-primary\">annual return filing of LLP<\/a><\/strong> Registered in 2018 and they are as followed: &#8211;<\/p>\n\n\n\n<ul><li>An annual return.<\/li><li>The financial statements of the LLP which include Account statements of your registered LLP<\/li><li><strong><a href=\"https:\/\/swaritadvisors.com\/income-tax-return-filing\" class=\"text-primary\">Income tax return filing<\/a><\/strong>.<\/li><\/ul>\n\n\n\n<p>Looking at the rules, some of the entrepreneurs might just be having such doubts about whether they are required to make these filings annually irrespective of their business is going on or not. And the answer to that doubt is yes, well these filings are certain mandatory once you have registered LLP with the <strong>MCA<\/strong><a href=\"http:\/\/www.mca.gov.in\/\">[1]<\/a> . Usually, the reason why it is actually mandatory is that even though you may or may not be doing any business is precisely known to you but not the government, hence you need to still show your filings of each year. These filings are a way of giving your information of your LLP to the government each year. Let us now discuss some filings in a bit more detail.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b5e057a600\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b5e057a600\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/learning\/procedure-to-file-annual-return-filing-of-llp\/#How_to_File_Annual_Return_Filing_of_LLP\" title=\"How to File Annual Return Filing of LLP?\">How to File Annual Return Filing of LLP?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/learning\/procedure-to-file-annual-return-filing-of-llp\/#What_Are_The_Audit_Requirement_Under_The_LLP_Act\" title=\"What Are The Audit Requirement Under The LLP Act?\">What Are The Audit Requirement Under The LLP Act?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/learning\/procedure-to-file-annual-return-filing-of-llp\/#Audit_requirement_under_The_Income_Tax_Act\" title=\"Audit requirement under The Income Tax Act\">Audit requirement under The Income Tax Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/learning\/procedure-to-file-annual-return-filing-of-llp\/#Certifications_from_PCS\" title=\"Certifications from PCS\">Certifications from PCS<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/learning\/procedure-to-file-annual-return-filing-of-llp\/#Important_Points_on_LLP_Annual_Compliance\" title=\"Important Points on LLP Annual Compliance\">Important Points on LLP Annual Compliance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/learning\/procedure-to-file-annual-return-filing-of-llp\/#Penalty_for_Late_filing_of_form_8_Form_11_of_LLP\" title=\"Penalty for Late filing of form 8 &amp; Form 11 of LLP\">Penalty for Late filing of form 8 &amp; Form 11 of LLP<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/learning\/procedure-to-file-annual-return-filing-of-llp\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_File_Annual_Return_Filing_of_LLP\"><\/span>How to File Annual Return Filing of LLP?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>By the summary, given under form number 11 for LLP, the partners must notify any changes in their LLP agreement by the management by just making an annual filing. This annual return filing of LLP s done to the registrar through form number 11 within the time period of 60 days from the date of closing of the financial year. This means that this annual return should be filed on the date on or before the date of May 30<sup>th<\/sup> each year. So by that logic, the May 30<sup>th<\/sup> becomes the last day for annual return filing for LLP, this year it had to be 30th May 2018.<\/p>\n\n\n\n<p>Now the question of registration dates of the LLPs. Who should file this year annual return for their LLP? This year\u2019s annual return for LLP i.e of the year 2018 will be applicable on those LLPs that were registered until the date of 30<sup>th<\/sup> September 2017. In case, if your LLP was registered after this date or on 1<sup>st<\/sup> December 2017 then you will be eligible for the annual return filing of LLP in the month of May 2019.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_The_Audit_Requirement_Under_The_LLP_Act\"><\/span>What Are The Audit Requirement Under The LLP Act?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The rules under this are that only the certain LLPs that have a turnover that is exceeding Rs 40 lakhs or has a contribution that has exceeded <strong>Rs 25 lakhs<\/strong> will be clearly required for getting an audit report for their accounts. This shall be done by any qualified chartered accountant who shall then certify all your account statements. You can also take the help of <em>professionals at Swarit Advisors<\/em>, to prepare your audit.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Audit_requirement_under_The_Income_Tax_Act\"><\/span>Audit requirement under The Income Tax Act<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The audit of the accounts is a mandatory work and a requirement under the income tax act, according to which the audit will be done in case the <em>turnover exceeds Rs 100 lakhs<\/em>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Certifications_from_PCS\"><\/span>Certifications from PCS<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Now in case if the turnover going up more than the amount of <strong>Rs 5 crore<\/strong> in a financial year or had a contribution which stood more than the number of Rs 50 lakhs then the annual filing has to be certified by a practicing company secretary.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_Points_on_LLP_Annual_Compliance\"><\/span>Important Points on LLP Annual Compliance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>When you are thinking of making all the filings by yourself then it&#8217;s important that you hire a professional. While making annual filings for your LLP many documents require attestation which will not be so easy, rather it\u2019s a matter of convenience. Also, you shall be able to save much of your taxes by doing the right planning with the help of a professional.<\/li><li>In case your LLP is out of business, even then till the date of not opening a current bank account, you must file your annual returns even though they ate NIL. Avoiding so will make you liable for penalties and you will have a hard time closing your LLP in the future.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Penalty_for_Late_filing_of_form_8_Form_11_of_LLP\"><\/span>Penalty for Late filing of form 8 &amp; Form 11 of LLP<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In case there\u2019s a delay in filing of form 8 and form 11 for the LLP, there will be a penalty. Each day there\u2019s a rise in the penalty of Rs 100 from the last date that was meant for filing till the date you actually comply with the annual return filings.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Return filing for LLP is mandatory for all Entities to register under Company Act 2013. There is a provision for penalty for not filing return on the prescribed date of filing. <\/p>\n\n\n\n<p>The author is an expert of <strong><a href=\"https:\/\/swaritadvisors.com\/limited-liability-partnership-registration\" class=\"text-primary\">LLP Registration<\/a><\/strong>, Compliance &amp; Annual filing for Limited liability partnership. kindly, visit the home page to know more about him.<\/p>\n\n\n\n<div class=\"read\"><p><b>Read, Also:<\/b> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/llp-registered-office-change-procedure\/\">Procedure and Requirements relating to LLP Registered Office change<\/a><\/mark>.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Each of an LLP which has been a registered one with the MCA or ministry of the corporate affairs has to file a few annual filings each year as it\u2019s a mandatory rule. Now there are three main annual return filing of LLP Registered in 2018 and they are as followed: &#8211; An annual return. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[171],"tags":[214],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/2564"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/comments?post=2564"}],"version-history":[{"count":17,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/2564\/revisions"}],"predecessor-version":[{"id":18857,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/2564\/revisions\/18857"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media\/2566"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media?parent=2564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/categories?post=2564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/tags?post=2564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}