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Annual filings for LLP

LLPs in India must file its Annual Return in Form-11 to the Registrar within 60 days from the closure of financial year and Statement of Account & Solvency in Form-8 within 30 days from end of six months of close of financial year. Unlike Companies, LLPs mandatorily have to maintain their financial year, as April 1st to March 31st. Therefore, LLP annual return is due on May 30th and the Statement of Account & Solvency is due on October 30th of each financial year. However, in case the LLP was incorporated on or after 1st of October of a financial year, then the LLP can close its first financial year either on the coming or next 31st March, thereby filing its annual return after 18 months. LLP whose annual turnover exceeds Rs.40 lakhs or whose contribution exceeds Rs.25 lakhs are required to get their accounts audited by a qualified Chartered Accountant.

LLPs need only file their returns on an annual basis, but failure to do so can be very costly. Greenleaf complete all the compliance requirements of an LLP for a fraction of the price charged by offline company secretaries.

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