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A Limited Liability Partnership Annual return or LLP annual return is basically a summary of details of Partners and Designated Partners and changes among them annually. An LLP is required to file the Annual Return with the Registrar of LLP (Form 11) within 60 days of closure of its financial year. An LLP has to close its financial year on every 31st March. So, the Annual Return is to be filed on or before 30th May every year. The Statement of Accounts (Form 8) is the summary of Financial Transactions which can be Assets / Liabilities and Income and Expenditure details of LLP. Every LLP has to complete its book of accounts latest by 31st March every year and prepare a Statement of Accounts (Profit and Loss Account and Balance Sheet) and has to file the same with Registrar of LLP and Income Tax Authorities. LLP also has to file the Statement of Accounts with the Registrar of LLP (Form 8) within 30 days from the end of 6 months of such fiscal year. So, the statement of Accounts is to be filed on or before 30th October every year in order to maintain balance and avoid penalties.
How to file LLP annual return
For LLP filing, the LLP has to fill form 8 and 11 annually.
In today’s time, you can also do e-filling which saves your time and help maintain official records on your system efficiently. The web portal of MCA or Ministry of Corporate affairs allows you to fill these forms online.
The filing of LLP annual return is done to keep a regular check on different corporate and require precise information. You cannot miss or leave any information in terms of liability, assets and monetary. This is one of the mandatory forms you need to fill to ensure the smooth running of your company.
LLP is considered to be separate legal entities, therefore, it becomes the duty of designated partners to maintain records and a proper book of accounts and file LLP annual return with MCA every financial year. There are firms which help you step by step in the filing of such forms and giving you legal solutions.
