LLP Annual Compliance Filing FY 2024‑25 at ₹ 2,000

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LLP Annual Compliance Filing FY 2024‑25

Below, we discuss about the Annual Compliance Filing of an LLP

LLP Form 11 (Annual Return Filing)

2,000

2500 (20% OFF)

LLP Form 8 (Financial Statement Filing)

2,000

2500 (20% OFF)

LLP ITR

2,800

3500 (20% OFF)

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About Annual Compliances LLP

What is Form 11?
Form 11 is the Annual Return that provides a snapshot of your LLP’s structure, partners, and contributions as of March 31 each year.

Deadline for Filing Form 11: Must be filed within 60 days from the end of the financial year, i.e., by May 30th each year.

Penalties for Late Filing of Form 11:
Daily penalty of ₹100 is levied for delays, with no upper limit. For 'Small LLPs', penalties can be up to 25 times the standard fee, and for others, up to 50 times and also risk of designated partners being disqualified.

What is Form 8?
Form 8 discloses your LLP’s financial health, including its ability to pay debts (solvency) and its annual financial statements.

Two Parts of Form 8:
Part A: A declaration of solvency signed by designated partners.
Part B: Financial statements, including:
Balance Sheet.
Profit & Loss Account.
Auditor’s Report (mandatory if turnover exceeds ₹40 lakhs or capital contribution exceeds ₹25 lakhs).
Deadline: October 30 (within 30 days after September 30, i.e., 6 months post-financial year-end).

Late Filing Penalty: Similar to Form 11, a daily penalty of ₹100 is levied for delays, with no upper limit.
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Who Should file LLP Annual Compliances?

All LLPs, irrespective of their operational status or turnover, must file Form 11 and Form 8 annually.

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How to Filing Form 11 and Form 8 for LLP?

Steps to File Form 11:

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Log in to MCA Portal → Go to "LLP Services" → "File e-Forms →  Select Form 11 → Fill in LLP & Partner Details

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Enter LLPIN, financial year, registered office details →  Add list of all partners (names, PAN, contribution, etc.)

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Digitally sign using a Designated Partner’s DSC → Pay the filing fee (if applicable)

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Submit and download the acknowledgment (SRN)

Steps to File Form 8:

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Prepare Financial Statements

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Log in to MCA Portal → Go to "LLP Services" → "File e-Forms"

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Select Form 8 → Choose "Form 8 (Statement of Account & Solvency)" → Fill in Financial Details → Enter LLPIN, financial year, solvency declaration

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Upload Part B (Financial Statements in PDF) →  Certification by CA/CS (If Applicable) →  If turnover > ₹40 lakhs or contribution > ₹25 lakhs, attach Auditor’s Report

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Digitally sign using DSC of designated partners →  Pay the filing fee (if applicable)

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Submit and download acknowledgment (SRN)

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Document required for LLP Annual Filings?

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Certificate of Incorporation

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PAN of LLP

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List of all designated & non-designated partners

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PAN & address proofs of all partners

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Details of any changes in partners (if applicable)

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Digital Signature Certificate (DSC) of a designated partner

In conclusion, adhering to the annual compliance requirements for a Limited Liability Partnership (LLP) in India is crucial for maintaining the entity's legal standing and avoiding penalties. Timely filing of Form 11 (Annual Return) by May 30th and Form 8 (Statement of Account and Solvency) by October 30th each year ensures transparency and accountability in your LLP's operations. Non-compliance can lead to substantial daily penalties and potential legal repercussions. Chartered ONE provides professional assistance to ensure accurate and punctual filings.

Form 11 is the Annual Return of an LLP, providing details about the LLP's partners and their contributions. Every LLP registered in India must file Form 11 annually, regardless of its business activity or turnover.

Form 11 must be filed within 60 days from the end of the financial year. For LLPs following the April–March financial year, the due date is May 30th each year.

Form 11 requires details such as:
  • LLP Identification Number (LLPIN)
  • Name and registered address of the LLP
  • Details of all partners/designated partners
  • Total contribution received by all partners
  • Details of penalties imposed on the LLP, if any

Form 8 is the Statement of Account and Solvency, which includes the LLP's financial statements and a declaration of solvency. All LLPs must file Form 8 annually, regardless of their turnover or business activity.

Form 8 must be filed within 30 days after six months from the end of the financial year. For LLPs following the April–March financial year, the due date is October 30th each year.

Form 8 comprises two parts:

  • Part A: Statement of Solvency, declaring the LLP's ability to pay its debts.
  • Part B: Statement of Accounts, including the balance sheet, profit and loss account, and other financial details. 

Audit of accounts is mandatory if:

  • The LLP's turnover exceeds ₹40 lakhs in any financial year, or
  • The contribution by partners exceeds ₹25 lakhs.

In such cases, the financial statements must be audited by a Chartered Accountant.

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