Under the LLP act 2008 Limited Liability Partnership (LLP) registered in India must file Annual Return each year. While filing annual return we need to submit information like:
- 1. Change is management
- 2. Profit earned by LLP
- 3. Tax liability
- 4. Audited accounts
Apart from this Certifications from Company Secretary in Practice should also be submitted. The return must be e-filed each year with the Ministry of Corporate Affairs to avoid penalty. LLP annual return filing can be done electronically. It is important to make sure that all the information filed in the Form is correct as there is no provision for re submission.
The first step to incorporate LLP is to reserve a name of LLP. We then need to fileeForm 4 before due date. Filling of return will not be allowed if eForm 4 is pending for payment of fees or if eForm 4 is in process. The last step is execution of LLP agreement.
LLP annual return filingis due within 60 days of financial year end. Almost every LLPs have 31st March as the closure of financial year, LLP Annual Return annual return filing is due on the 30th of May of each year.
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If LLP annual return filing is not done on or before the due date of 30th May, then a penalty of Rs.100 per day until the non-compliance continues will be applicable. As there is no upper limiton the penalty, the amount can increase over time. Thus it is important to file the on time to avoid heavy penalty.Apart from the above penalties, the Registrar has right to knock off the LLPs who are not filing their Financial Statements and Annual Returns for a period of two immediate financial years.
Those LLPs 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.
The main reason we need LLP annual return filing services from any LLP annual return filing service provider is that there is no option of resubmission of LLP annual return filing and LLP annual return filing should also be done on time. Thus professional help can make things easy.
The LLP annual return filing formmust be digital signed with the digital signature of one of the Designated Partners of the LLP. A whole time Company Secretary must be approached in case total obligation of contribution of partners of the LLP exceeds Rs. 50 lakhs or turnover of LLP exceeds Rs. 5 crores. Here also LLP annual return filing services provider takes care of all the obligations that has to be fulfilled while LLP annual return filing.
Every LLP is under an obligation to file annual return with the ROC and Income Tax Return for the previous financial year, which ended on 31st March 2019. These compliance are necessary if not filed on time results in a heavy penalty.
The LLP has to prepare and file the following three returns for the past previous year within its prescribed due dates.
These are mandatory in nature, LLP annual return filing services provider will help you with LLP annual return filingprocedure which is Filing
Form -11: before 30th May 2019
Income Tax Return: before 31st July 2019
Form – 8: before 30th October 2019
Please note that Form 11 and Form 8 is compulsory only when the LLP has been incorporated on or before 30th September 2018. However Income Tax return is a must for all the LLP.
LLPs in India must file its Annual Return within 60 days from the end of close of financial year and Statement of Account & Solvency within 30 days from end of six months of close of financial year. LLPs compulsory have to maintain their financial year, as April 1st to March 31st.
There are many LLPs Annual Return Filing Services in Ahmedabad as well as in whole of Gujarat. We just need to approach them and ask them to maintain proper book of accounts and file annual return for which they charge minimum amount.There are many LLP annual return filing service providers in Gujarat. LLPs Annual Return Filing Services in Gujarat help the LLP owners to Save taxes and file return on time else liabilities or penalties may arise in future which will make closure of LLP difficult.