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Annual Filing of LLP


Annual Filling of LLP

Limited Liability Partnership (LLP) firms have to comply with fewer norms as compared to companies. As a mandatory compliance under the Limited Liability Partnership Act, every LLP is required to periodically file the prescribed forms before the due date every year.

E-tax undertakes to timely file the following forms for an LLP:

Form 8

The filing process of LLP requires compulsory filing of Statement of Account & Solvency with Registrar in Form 8. This form requires disclosure of information related to the statement of assets and liabilities as well as statement of income and expenditure of the LLP.

Form 11

LLPs need to file their Annual Return in Form 11 with the Registrar at MCA. It contains details of all the partners, their contributions towards the LLP, etc.

Form ITR 5

Since LLP is a separate legal entity, hence the authorized partner of LLP needs to submit the income tax return of the firm online at the income tax website.

Form 3CD

Any LLP whose turnover exceeds 40 lakh rupees or contribution exceeds 25 lakh rupees in any financial year, is required to get the accounts audited and file the audit reports.

Failing to file the necessary e-forms might result in fine and penalties. In order to avoid the liability arising from fines and penalties, every Limited Liability Partnership has to bear the burden of above compliances.

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