What is LLP Annual Filing?  

In India, when you have registered your enterprise, it’s far essential to observe essential compliance in your enterprise shape. If we communicate approximately A Limited Liability Partnership, which could be an enterprise shape with a minimal wide variety of two contributors and having no obstacle at the widest variety of contributors, the compliances of an LLP is manner lesser than that of a Private Limited Company. Nonetheless, it’s far essential to hold a song of all of the good-sized Statutory due dates for LLP Annual Filing that consists of ROC Filing for LLP, Income Tax Filing for LLP, and GST submitting for LLP. It may be very important for an LLP to be nicely organized for all of the ROC in addition to different Compliances to be met in a selected Financial Year. Here, we’ve organized a calendar for all of the Important Statutory Due Dates for LLP Annual Filing for FY 2021-22 (AY- 2022-23).

What is LLP Annual Filing?  

It is vital for each LLP (Limited Liability Partnership) to put together and put up its Annual ROC Forms with the Registrar of Companies. Every Year, an LLP is needed to document ROC Forms namely: 

  1. Form LLP Eleven: Form LLP eleven is an Annual Return of an LLP that wishes to be filed within the duration of 60 days from the give up of a Financial Year. 
  2. Form LLP Eight: LLP Form eight is a Statement of Account & Solvency within 30 days counting from the give up of six months of the remaining monetary year.
  • For each Limited Liability Partnership, it’s miles critical to conform with the statutory necessities which include Annual Return, Income Tax Return, Profit and Loss Account, and Balance Sheet, each year, even supposing it does now no longer does any business. 
  • Just like Companies, Limited Liability Partnerships (LLPs) are required to keep their monetary year, as the 1st of April to the thirty-first of March.

LLP Form eleven due date for FY 2021-22 (LLP Annual Return Filing) – 30.05.2022 

  • The Limited Liability Partnerships i.e. LLPs registered in India ought to document an Annual Return with the Registrar of Companies each year. 
  • This Annual Return of an LLP wishes to be filed in LLP Form eleven within 60 days from the closure of the monetary year. 
  • In that manner, the Due Date for LLP Annual Return Filing in LLP Form eleven for the FY 2021-22 will be the thirtieth of May 2021. 
  • Even if the LLP does now no longer have any commercial enterprise, it’s far crucial for each LLP to publish its Annual Returns and Financial Statements with the MCA (Ministry of Corporate Affairs). LLP Form eleven i.e. LLP Annual Return is not anything but a precis of all of the adjustments made withinside the Management (Designated Partners) of an LLP all through a monetary year if any. 
  • It is an ought to the requirement of the Limited Liability Partnership Act hence, even supposing there aren’t any any adjustments or no commercial enterprise accomplished via way of means of an LLP, a NIL go-back ought to be filed

LLP shape eight Due dates for FY 2021-22- 30.10.2022 

  • Apart from submitting LLP Form 11, an LLP is needed to document one extra shape each yr with ROC i.e. LLP Form eight.
  • LLP Form eight is an Annual Filing Form that is a Statement of Account and solvency. 
  • The Due Date for submitting the Statement of Account and Solvency falls within 30 days from the stop of six months of the closure of the monetary yr
  • That method the Due Date for submitting LLP Form eight with ROC for the FY 2021-22 will be the thirtieth of October 2022. 
  • LLP Form eight is an assertion with the aid of using the unique companions at the nation of the solvency of the LLP. 
  • LLP Form eight additionally consists of the records approximately the Statement of Assets and Liabilities and Statement of Income and Expenditure of the LLP.

Date by which LLP IT Returns for FY 2021–2022 are due.

Income Tax Return Filing is a Compliance that now no longer best LLPs however additionally any character or enterprise needs to be complied with. 

That is to mention that each one of the LLPs is required to record Income Tax Returns on or earlier than the due date. 

For the Financial Year 2021-22, the final date for submitting Income Tax Returns for LLPs which does now no longer require Tax Audit is the thirty-first of July 2022 and if Tax Audit is needed then the due date for IT Returns for LLP is the thirtieth of September 2022. 

Even if the LLP has now no longer carried out any enterprise for the modern economic year, they may be required to record a Nil Income Tax Returns with the Income Tax authorities. 

Late charges for shape LLP eight and LLP eleven submitting 

  • If an LLP does now no longer record it’s annual submitting bureaucracy inside the prescribed time, then there could be a penalty of Rs. one hundred according to the day according to shape is payable from the due date of submitting go back until the date the real go-back is filed. 

It is the duty of the Designated Partners of an LLP to keep the right Books of Accounts and record an Annual Return with the MCA every economic year. Hence it’s far recommended that you record your shape LLP eight and LLP Form eleven earlier than the due dates.

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