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Thursday, February 27, 2020

Do You Know the Main Annual Compliances for LLP in India?

annual compliances for llp
annual compliances for LLP

The LLP (Limited Liability Partnership), which is registered under the Indian LLP Act of 2008 and the LLP Rules of 2009, is now a hugely popular partnership company in regions across the country. Right from its introduction in India, LLPs became strikingly popular in various fields of businesses and services, most prominently in the fields of professional services. The Ministry of Corporate Affairs (MCA), Govt of India, and its portal www.llp.gov.in are exclusively prescribed for registering an LLP anywhere in the entire country. Our Delhi-based and highly prestigious law firm has been extending expert, expeditious, and economical services for LLP registrations nationwide for around a decade, along with other legal and consultancy services for smooth and lawful running and the desired growth & profitability of the LLPs in India. Here in this short blog, described briefly only are the annual compliances for LLP in India, to help the concerned entrepreneurs and LLP companies.   

The statutory annual compliances for LLP in India are considerably less than those for a private or public limited company. Here, it may also be noted that LLP by its characteristics enjoys many lush advantages over a traditional partnership firm registered as per the Indian Partnerships Act, 1932. In general, the following are the main statutory annual compliances to be made by any LLP in India.
  •  The Annual Return in Form 11, filed with the Registrar of LLPs, within the timeline prescribed.
  • The Statement of Accounts & Solvency (SAS) in Form 8
  • And, the Income Tax Returns
Again, these compliances are inevitable, irrespective of whether the liable LLP is doing business or not. Perfect and timely filing of the above compliances is needed to avert heavy penalties, which are taken at the rate of 100 for each day of default. Noteworthy here also is the fact that whenever (in any financial year) the total capital contributions from partners in an LLP becomes more than 25 Lakh, or its annual turnover exceeds 40 Lakh, then the accounts of the concerned LLP must be rigorously audited by a qualified Chartered Accountant of India. To know about the prescribed timelines for filing each of the above-mentioned compliances with the relevant authorities.

Company Registration in India
Email: contact@company-registration.in
Call/WhatsApp: 8800100284
Website:www(dot)company-registration(dot)in
Address: s-191c, Manak complex, school block, 
Shakar Pur, Delhi 110092  

1 comment:

  1. i'm have the details about company registration process in my blog plz check it company regstration deatils

    ReplyDelete

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