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Ensure the compliance of your LLP

Make sure you never fall short on filing annual compliance requirements for your LLP. Stay it updated and running with our LLP annual compliance services.

Price Starts RS @ 9,999 /-

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Annual Compliances for LLP Process

Step 1
Provide the business/individual documents
Step 2
Let us handle mandatory compliance
Step 3
Get the report

Annual Compliances for LLP

Need of LLP

When we invest our money, we think it gives more benefits and less risk. In the same way, when we plan to start our business, we always choose that medium that offers more benefits in less investment and Compliance. An LLP is one of the mediums it gives the benefits of two entities at one time, i.e., company as well as partnership. As a company, it gives the corporate entity to the business, and as a partnership, it imposes less Compliance.

Structure of LLP

A minimum of two individuals are required to form a limited liability partnership in which at least one must be a resident of India. They are known as designated partners. They hold a DPIN (Designated partner identification number), and there is no limit on the maximum number of partners. Under LLP, one partner is not responsible for the other partner's misconduct, and their liability is limited to the amount contributed in LLP and written as per the LLP agreement. Every limited liability partnership shall use the word LLP at the end of its name.

Eligibility Criteria for Annual Compliance for LLP

You must conform to the annual Compliance filing if you're an LLP. You must fill the necessary annual compliances of your Limited Liability partnership as per the schedule the MCA has decided upon in its regulations.

Documents required for filing Annual Compliance for LLP

The documents needed for the annual Compliance are as follows:

1.     The Pan card of the designated partners of the LLP.

2.     The identity proof of the designated partners of the LLP

3.     LLP agreement

4.     Required financial statements.

5.     Minutes of meetings.

Process for filing Annual Compliances for LLP

LLP Returns Filing requirements

Following is the list of LLP Annual Compliances that must be filed per the MCA regulations.

Compliance of LLP

The first thought that comes to mind when we hear the word Compliance is a burden, but it is not in the case of LLP. The main feature why LLP attracts individuals is its lower Compliance than any company. The whole compliances are divided into two parts -

1.     Statutory Compliances

2.     Annual Compliances

Statutory LLP Compliances filing

These are those compliances which impose on the entity by law and regulations form which it binds, such as;

Conduct Meetings

·      First General Meeting- within 30 days from the date of its incorporation

·      Executive committee meeting- 2 in one financial year

Maintaining Minute Book

Every incorporated LLP must maintain the minutes of the meetings with the Board of Directors.

Maintaining Books of Accounts

Every incorporated LLP must maintain the Book of Accounts with the Board of Directors.

Audit of Accounts

It is mandatory if turnover exceeds 40 Lakhs or the contribution of LLP is 25,00,000.

LLP Annual Compliances filing

A bunch of three Compliance is applicable, which is to be met. The other name of this is mandatory Compliance and to be met out no matter business is conducted, or any activity is done or note in the financial year and case of any default 100 rupees per day penalty will impose.

LLP Annual Returns

For annual LLP return filing, A summary of partners, including change in management, is to be filled to ROC within 60 days from the closure of the financial year.

LLP Statements of Accounts

The LLP must file its statements of Accounts and Solvency within 30 days after the expiry of 6 months from the closure of the financial year.

LLP Income Tax Returns filing

It will depend on the audit status of the LLP. If the audit is required, then the date of filing of income tax return is 30th September. Otherwise, it will be till the 31st of the other month.

Our Assistance in filing the Annual Compliance for LLP

We at Registrationwala provide end-to-end solutions for filing annual LLP Company compliance. Our services include:

  • Collection of information and starting the process
  • Creating the first compliance draft
  • Reviewing the draft and making changes if necessary
  • Filing the Compliance

Registrationwala.com is a leading legal consultancy firm providing comprehensive services for LLP Annual Compliance filing.

To start filing your annual Compliance, reach out to us now.

FAQs

Q1. What is the annual Compliance for the LLP?

A. A bunch of three Annual Compliance applies to the LLP, which must be met. The other name of Annual Compliance is mandatory Compliance. It must be completed whether the business is conducted, or any activity is done, or note in the financial year in case of any default 100 rupees per day penalty will be imposed.

Q2. What makes one eligible for filing LLP Annual Compliances?

A. You must conform to the LLP Annual Compliance filing standards as directed. Also, you must fill the necessary annual compliances of your Limited Liability partnership as per the schedule the MCA has decided upon in its regulations.

Q3. What documents must be submitted supporting compliance filing with the MCA?

A. The documents needed for the annual Compliance are as follows:

1.     PAN card of the designated partners

2.     Identity Proof of the designated partners

3.     LLP agreement

4.     Required financial statements

5.     Minutes of Meetings

Q4. What is the process of filing Annual Compliances for LLP?

A. You can refer to the process section of this web page to know the detailed procedure for filing LLP Annual Compliances.

Q5. What are the types of Compliance that an LLP must file?

A. The main feature why LLP attracts individuals is its lower Compliance as compared to any company. The whole compliances are divided into two parts -

·      Statutory Compliances

·      Annual Compliances

Q6. What meetings must an incorporated LLP conduct every year?

A. LLP must conduct the following meetings:

·      First General Meeting- within 30 days from the date of its incorporation

·      Executive committee meeting- 2 in one financial year

 Q7. What comes under the maintenance of an LLP?

A. Every incorporated LLP must maintain the minutes of the meetings with the Board of Directors. Also, Every incorporated LLP must maintain the Book of Accounts with the Board of Directors.

Q8. What makes LLP's audit compulsory?

A. Audit is mandatory if turnover exceeds 40 Lakhs or the contribution of LLP is 25,00,000.

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