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Annual E-Filing for an LLP (Limited Liability Partnership)

Gearing up to file your annual return for your LLP? Look no further as we’ve got you covered in this step-by-step guide.

Annual E-Filing for an LLP

A Limited Liability Partnerships [LLP] is a separate legal entity. It is registered under the Ministry of Corporate Affairs (MCA). Thus maintaining proper books of accounts and filing an annual return is necessary to ensure compliance. You can do annual e-filing for an LLP to maintain compliance. 

Note – Limited Liability Partnerships must mandatorily audit their books of account if their annual turnover is more than ₹40 lakhs or if the partner’s contribution to the LLP is more than ₹25 lakh. In other cases, annual auditing of books of accounts is not needed.

Which Annual Fillings Does an LLP Have to Complete?

  • Statements of Account & Solvency within a period of thirty (30) days from the end of six (6) months of the financial year; and
  • The annual return‘s within sixty (60) days from the end of the financial year.

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 undertaken any business in that specific financial year.

How to E-File for an LLP

For LLP e-filing, the applicant can download the e-form from the MCA portal, fill it up offline and submit it for further processing. There is also an option to fill it up online using the MCA’s facility to pre-fill the data available in the LLP system (only available for those 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.

Note: Unlike companies, Limited Liability Partnerships are mandatorily required to maintain the financial year, from 1st April to 31st March.

Uploading the E-Form

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

Here Is a Step-By-Step Guide on E-filing for an LLP

Step 1- Category selection

Firstly, the applicant is required to select a category to download an eForm from the Limited Liability Partnership companies portal. There is an option to make the download with or without an instruction kit. An instruction kit always comes in handy to clarify doubts at any stage of filling the e-form.

Step 2- Filling the form

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. Otherwise, you will have to fill the downloaded e-form.

Step 3- Add Documents

Then 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. They must then attach the same in the attachment section of the e-form by clicking the ‘Attach’ button.

Step 4 – Check Form

Once the documents and signatures have been attached, in the next step, it is required to click the ‘Check Form’ button available in the e-form. The system will check for the mandatory fields, mandatory attachment(s) and digital signature(s).

Step 5 – Pre-Scrutiny

 Thereafter, the 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-scrutinise) 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 – Paying the Fee

Towards the end of the filing, the system will calculate the fee.  It will also calculate late payment fees, if applicable. The applicant is required to pay the amount either via credit card, internet banking, NEFT, Pay Later or at the bank counter through challan.

The Takeaway

However, the process of annual e-filing for an LLP entails a large number of steps and complexities. This is why we recommended engaging the services of professionals with expertise in the field. Thankfully, we at Vakilsearch can assist you in making this entire process quick and straightforward. Get in touch with our experts today!

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