LLP Annual Filing in Surat

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LLP return filing

LLP Annual Return Filing in Gujarat

An LLP must file annual returns with the Registrar of Companies (ROC) that contain its accounts. All LLPs are meant to file these returns, and failure to do so can result in huge fines. Although LLPs have fewer compliance requirements compared to private limited companies, the penalties for non-compliance are significantly higher. Therefore, it is crucial for every LLP to fulfill all compliance obligations, no matter how small they may seem.

Which Forms Need to Be Filed?

Every LLP must file two essential forms annually:

Form-11 – The Annual Return of LLP.
Form-08 – The Statement of Accounts & Solvency.

When is the Due Date for LLP Annual Return Filing in Gujarat?

Form-08 (Statement of Accounts & Solvency): Must be filed within 30 days from the end of six months of the financial year it relates to.

Example: Form-08 must be submitted by October 30, 2023, at the latest, for the year 2022–2023.

Form-11 (LLP Annual Return) must be submitted by May 30 of every year at the latest.

Example: Form-11 must be submitted by May 30, 2023, at the latest, for the year 2022–2023.

What are the Details to be Provided in Form-08 and Form-11?

Form-08:

(1) Has details regarding income, expenditure, profit or loss, and assets and liabilities of the LLP. (2) Must be signed by two specified partners. (3) Must be attested by a practicing Chartered Accountant (CA), Company Secretary (CS), or Cost Accountant.

Form-11:

Provides details of designated partners, regular partners, and contributions made by each partner.

The requirements of LLPs for income tax and audits

LLPs that have either

Over INR 40 lakh in turnover, or Over 25 lakh was contributed. are obligated to have a practicing-chartered accountant audit their books.

The deadline for filing tax returns for LLPs that require an audit is September 30 of the relevant assessment year.

Ensuring timely compliance with LLP filing requirements helps avoid penalties and maintain a good legal standing. Filing on time ensures smooth business operations and regulatory adherence.

Get answers to all your queries

Which form is to be filed?

Form 08 called Statement of accounts and solvency needs to be filed.

What is the fees for this form?

Applicable fees will be charged in accordance with the Companies (Registration Offices and Fees) Rules.

What are the attachments to this form?

1) Disclosure under Micro, Small and Medium Enterprises (MSME) Development Act, 2006 is a mandatory attachment. 2) Statement of contingent liabilities to be attached in case any contingent liability exists. 3) Any other relevant information can be provided as an optional attachment.

Who needs to certify this form?

This form must be certified by practicing Chartered accountant or Practicing Company secretary or Practicing Cost accountant.

What is the due date of filing this form?

This form needs to be filed with 30 days from the end of 6 months of the financial year to which it relates. For example: for the year 2017-18, Form 08 is required to be filed before 30th Oct 2018.

What if I do not file this form?

Missing the filing deadline can result in a penalty of ₹100 per day, leading to significant financial consequences over time.

Who needs to sign this form?

Any two designated partners must sign this form digitally.