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Company ROC Compliances

What are LLP Annual Filing Complaiance

The Limited Liability Partnership is governed by The LLP Act 2008 and regulated by The Ministry of Corporate Affairs (MCA). As per LLP rules and LLP Act 2008, every LLPs in India required to follow below statutory requirements.

  • Statutory Audit – Statutory Audit is mandatory for LLP if turnover is more than 40 Lakhs or contribution is more than 25 Lakhs.
  • Maintenance of Books of accounts – Maintenance of proper books of accounts is mandatory after formation of Limited Liability Partnership. Need to maintain at the registered office of the company.
  • Board Meetings & Annual General Meetings – Board meetings & Annual General Meetings are not mandatory in a Limited Liability Partnership.
  • Annual ROC Filing – LLPs in India should file Annual Returns with ROC in e-form 11, within 60 days from close of financial year.
  • Minute Book – Minute Book to be maintained to record minutes of meetings of partners.

Mandatory Annual Compliances

Following are the annual compliance for an LLP which is mandatory and cannot be ignored. On the off the chance that if any company ignore this compliance, they may face huge penalties.

  • Filing of form no 11 – Form 11 is an Annual return that is to be filled by all LLPs irrespective of turnover during the year. Even when an LLP does not carry out any operations or business during the financial year, Form 11 needs to be filed before the 30th of May every year.
    Apart from Basic information about Name, Address of LLP, details of Partners/ Designated Partners,
    other details that need to be declared are :
    1. Total contribution by/to partners of the LLP.
    2. Details of notices received towards Penalties imposed/compounding offenses committed during the financial year. It must be e-filed on the MCA portal. Any changes in LLP etc.
  • Filing of Form no 8 –  LLP Form 8 or Statement of Account & Solvency is a filing that must be filed every year by all Limited Liability Partnerships (LLPs) registered in India. Form 8 must be filed with the Ministry of Corporate irrespective of the turnover of the LLP. The due date for filing LLP Form 8 is 3oth October of each financial year. Failure to file LLP Form 8 can incur a penalty of Rs.100 per day. In addition to filing LLP Form 8, all LLPs must all file LLP Form 11 before 30th May of each financial year.
  • Income Tax Filings – Every company needs to file Income Tax returns.
  • GST Returns – GST returns has to be done by 15 to 20th of every month, for the last month invoicing.

Post Incorporation Compliance

These are available to be chosen bu not obligatory compliance. Company directors cannot ignore mandatory compliance if they ignore then the company will be penalized.

  • Company  – Company seals are also known as common seals. Each company has only one common seal. It is an official signature of the company and needs for opening a bank account and applying for PAN. It contains companies name, year of establishment, state etc. It is used to stamp companies important documents.
  • Letterhead and Invoicing – These are a standard part of doing business. Many companies use spreadsheets, word processors or software application for designing invoices or letterhead. It consists of company’s registered name, address, logo etc. If any company ignore this compliance then the company will be penalized.
  • Opening a bank account – Every registered company must open a bank account for their company so that Government can trace every transaction of the company.

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