Annual E-filing for a Limited Liability Partnership

Last Updated at: October 23, 2019
2039
Annual E-filing for a Limited Liability Partnership

A Limited Liability Partnerships [LLP] is a separate legal entity; thus maintaining proper books of accounts and filing an annual return with the Ministry of Corporate Affairs (MCA). The precondition for a Limited Liability Partnerships to audit their books of account is that their annual turnover is more than INR 40 lakhs or if the contribution is more than INR 25 lakh. In other cases, annual auditing of books of accounts is not needed.

What fillings does an LLP have to do?

  • Statements are Account & Solvency within a period of thirty (30) days from the end of six (6) months of the financial year; and

(Note: The Statement of Accounts & Solvency is to be filed 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.)

  • Annual Return within sixty (60) days from the end of the financial year. Dissimilar to Companies, Limited Liability Partnerships are mandatorily required to maintain the financial year, from 1st April to 31st March.

How to e-file for an LLP? 

For e-Filing on LLP, the applicant can download the e-form, fill it up offline and submit it for further processing. There is also a choice to fill it up online using the facility to pre-fill the data available in the LLP system (only available with an active internet connection). Once the applicant has filled in the e-form, the next step would be to validate the e-form using the Pre-scrutiny button. The applicant is also required to affix the relevant digital signatures and save the form. Here is a step-by-step guide to e-file for an LLP.

Your LLP Registration is easy now

Uploading the e-form:

Once the applicant has filled up the e-form as per the instructions and all information is verified, the next step is to upload the pre-form. On uploading of the e-form successfully, the applicant will be furnished with the service request number and then make payment of the statutory fees.

Steps to be followed for E-filling for an LLP

Step 1- First, the applicant is required to select a category to download an eForm from the LLP portal. There is an option to make the download with or without an instruction kit. An instruction kit always comes in handy, as you may use it to clarify doubts at any stage of filling the e-form.

Step 2- Once the form has been downloaded, the applicant now has to proceed towards filling up the information asked for. If the applicant is connected to an active internet connection, he can use the prefill button. You have to fill the downloaded eForm.

Step 3- Now, the applicant has to upload all the necessary and supporting documents as attachments. Successful filing of the e-from requires the applicant or a representative of the applicant to sign the document using a digital signature. If the attachments are in hard-copy, the applicant must get them scanned and saved as a soft copy in PDF format. Then attach the same in the attachment section of the eForm by clicking the appropriate ‘Attach’ button.

Step 4- Once documents and signatures have been attached, on the next step, it is required to click the Check Form button available in the eForm. The system will check the mandatory fields, mandatory attachment(s) and digital signature(s).

Step 5The filled-in form has to be uploaded for pre-scrutiny. The pre-scrutiny service is available under the Services tab or under the eForms tab by clicking the Upload eForm button. The system will verify (pre-scrutinize) the documents. In case of any inadequacies, the user will be asked to rectify the mistakes before getting the document ready for execution (signature).

Step 6- Towards the end of the filing, the system will calculate the fee, including late payment fees based on the due date of filing, if applicable. The applicant is required to be paying the amount either via credit card, Internet banking, NEFT, Pay Later or at the bank counter through challan.

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Annual E-filing for a Limited Liability Partnership

2039

A Limited Liability Partnerships [LLP] is a separate legal entity; thus maintaining proper books of accounts and filing an annual return with the Ministry of Corporate Affairs (MCA). The precondition for a Limited Liability Partnerships to audit their books of account is that their annual turnover is more than INR 40 lakhs or if the contribution is more than INR 25 lakh. In other cases, annual auditing of books of accounts is not needed.

What fillings does an LLP have to do?

  • Statements are Account & Solvency within a period of thirty (30) days from the end of six (6) months of the financial year; and

(Note: The Statement of Accounts & Solvency is to be filed 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.)

  • Annual Return within sixty (60) days from the end of the financial year. Dissimilar to Companies, Limited Liability Partnerships are mandatorily required to maintain the financial year, from 1st April to 31st March.

How to e-file for an LLP? 

For e-Filing on LLP, the applicant can download the e-form, fill it up offline and submit it for further processing. There is also a choice to fill it up online using the facility to pre-fill the data available in the LLP system (only available with an active internet connection). Once the applicant has filled in the e-form, the next step would be to validate the e-form using the Pre-scrutiny button. The applicant is also required to affix the relevant digital signatures and save the form. Here is a step-by-step guide to e-file for an LLP.

Your LLP Registration is easy now

Uploading the e-form:

Once the applicant has filled up the e-form as per the instructions and all information is verified, the next step is to upload the pre-form. On uploading of the e-form successfully, the applicant will be furnished with the service request number and then make payment of the statutory fees.

Steps to be followed for E-filling for an LLP

Step 1- First, the applicant is required to select a category to download an eForm from the LLP portal. There is an option to make the download with or without an instruction kit. An instruction kit always comes in handy, as you may use it to clarify doubts at any stage of filling the e-form.

Step 2- Once the form has been downloaded, the applicant now has to proceed towards filling up the information asked for. If the applicant is connected to an active internet connection, he can use the prefill button. You have to fill the downloaded eForm.

Step 3- Now, the applicant has to upload all the necessary and supporting documents as attachments. Successful filing of the e-from requires the applicant or a representative of the applicant to sign the document using a digital signature. If the attachments are in hard-copy, the applicant must get them scanned and saved as a soft copy in PDF format. Then attach the same in the attachment section of the eForm by clicking the appropriate ‘Attach’ button.

Step 4- Once documents and signatures have been attached, on the next step, it is required to click the Check Form button available in the eForm. The system will check the mandatory fields, mandatory attachment(s) and digital signature(s).

Step 5The filled-in form has to be uploaded for pre-scrutiny. The pre-scrutiny service is available under the Services tab or under the eForms tab by clicking the Upload eForm button. The system will verify (pre-scrutinize) the documents. In case of any inadequacies, the user will be asked to rectify the mistakes before getting the document ready for execution (signature).

Step 6- Towards the end of the filing, the system will calculate the fee, including late payment fees based on the due date of filing, if applicable. The applicant is required to be paying the amount either via credit card, Internet banking, NEFT, Pay Later or at the bank counter through challan.

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A lawyer with 14 years' experience, Vikram has worked with several well-known corporate law firms before joining Vakilsearch.