Company IncorporationLLP

LLP Annual Return Filing – Compliance & Due Date

Are you having a lot of queries on LLP Annual Filing? Spend a few minutes on this article and get your frequently asked questions answered!

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A limited liability partnership is one in which all or some of the partners are only liable for their own actions. Every LLP that is registered with the Ministry of Corporate Affairs is required to file annual returns and statements of accounts on an annual basis.

What are the mandatory compliance of LLP?

There are primarily three compliance that every LLP must meet in any given financial year :

  • Income tax returns filing – ITR 5
  • Annual return – Form 11
  • Financial Statements of the LLP – Form 8.

What if I have not undertaken any business during the year? Do I still need to file returns?

Yes, even if the LLP is not conducting business, it is required to issue annual returns and financial statements with the Ministry. Even NIL returns are a mandate to file because it is a legal requirement.

What is the audit requirement for LLP?

Only those LLPs with an annual turnover of more than ₹40 lakhs or a contribution of more than ₹25 lakhs are required to have their accounts audited under the LLP Act.

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What is the due date for filing the statement of accounts and annual return?

Filing of annual return (Form 11)

The annual return, also known as Form 11, is a summary of all the designated partners, including whether or not the LLP’s management has changed. Every LLP must file an annual return in Form 11 with the Registrar within 60 days of the financial year’s end. That is, annual returns must be filed 30 May every year.

Statement of Accounts (Form-8) Filing

Every LLP must prepare and close its accounts by the 31 March of each year. Within 30 days after the end of the financial year, at least two designated partners must file Form 8 with the Registrar. As a result, the deadline for filing annual accounts is 30 October each year.

What is the income tax compliance of LLP?

Income Tax Return

Every LLP must file an income tax return each year. Every year, the deadline for filing an LLP return is 31 July. On the other hand, any LLP subject to a tax audit must file its income tax return by 30 September.

Audit under Income-tax Act

Under section 44AB of the Income-tax Act, every LLP whose turnover exceeds ₹2 crores in the case of a business or ₹50 lakhs in the case of a profession is required to have its books of accounts tax audited. The audit must be completed and filed by 30 September.

What is the consequence if I don’t file my LLP returns in time or delay the filing?

Suppose the filing is not completed within the specified time. In that case, a penalty of ₹100 per day will be imposed until it is completed. The closure or wind up your LLP without filing Annual Accounts. In addition, until you file all required returns, your LLP becomes subject to unlimited statutory liability.

LLP Compliance Calendar quick reference:

Form Type Described Due date To be filed with
Form-8 Filing of statement of accounts 30th October Registrar of Companies
Form-11 Filing of annual returns 30th May Registrar of Companies
ITR -5 Income tax return 31st July (or 30th September, if tax audit is mandatory) Income tax department
Audit Tax audit ( if applicable) 30th September Income tax department

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