1. Key Annual Filings for LLPs

LLPs must file the following annual returns:

a. Statement of Account and Solvency (Form 8)

• Declares the financial position of the LLP, including assets, liabilities, and solvency status.
• Due Date: Must be filed within 30 days from the end of 6 months of the financial year (i.e., by October 30th each year).

b. Annual Return (Form 11)

• Provides details of all partners and changes during the year.
• Due Date: Must be filed within 60 days from the end of the financial year (i.e., by May 30th each year).
• Late Fee: ₹100 per day of delay.

c. Income Tax Return

• Filed with the Income Tax Department to report income earned by the LLP.
• Due Date:
  • July 31st (if audit is not required).
  • October 31st (if audit is required).
• Audit is mandatory if turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh.

2. Prerequisites for Filing

• LLP Identification Number (LLPIN): Unique identifier for the LLP.
• Digital Signature Certificate (DSC): At least one designated partner must have a Class 3 DSC.
• Designated Partner Identification Number (DPIN): Active DPINs for all designated partners.
• Access to the MCA Portal
• Books of Accounts: Properly maintained financial statements and supporting documents.
• LLP Agreement: Ensure any changes during the year have been updated.

3. Filing Process for Form 8 (Statement of Account and Solvency)

1. Log In to MCA Portal:
   • Visit MCA Portal  and log in using your credentials.
2. Download Form 8:
   • Go to the “MCA Services” section and download Form 8.
3. Fill the Form:
   • Enter details such as:
     • Statement of solvency.
     • Details of secured and unsecured loans.
     • Assets and liabilities.
     • Income and expenditure statement.
   • Attach the signed financial statements as required.
4. Sign the Form:
   • Use the DSC of the designated partner(s) to sign the form.
5. Upload and Pay Fees:
   • Upload the filled form on the MCA portal.
   • Pay the prescribed fees online.
6. Acknowledgment:
   • Upon successful submission, download the acknowledgment receipt.

4. Filing Process for Form 11 (Annual Return)

1. Log In to MCA Portal:
   • Visit the MCA Portal and log in.
2. Download Form 11:
   • Go to the “MCA Services” section and download Form 11.
3. Fill the Form:
   • Enter details such as:
     • Name of the LLP.
     • Registered office address.
     • Total contribution by partners.
     • Changes in partners (if any).
   • Attach supporting documents, if required.
4. Sign the Form:
   • Use the DSC of the designated partner(s) to sign the form.
5. Upload and Pay Fees:
   • Upload the completed form and pay the applicable fee.
6. Acknowledgment:
   • Download the acknowledgment receipt after successful submission.

5. Filing Income Tax Return

1. Prepare Financial Statements:
   • Ensure the Profit & Loss Account and Balance Sheet are ready and audited if required.
2. File ITR Forms:
   • Use ITR-5 for LLPs.
   • File online via the Income Tax e-Filing portal

Verification:

• Verify the return using an Electronic Verification Code (EVC) or send a signed copy of ITR-V to CPC, Bangalore.

6. Penalties for Non-Compliance

• Form 8 and Form 11: Late filing incurs a penalty of ₹100 per day per form until filing is completed.
• Income Tax Return:
  • Late filing attracts a penalty of up to ₹5,000 under Section 234F (if filed after the due date but before December 31st).
  • Interest on tax dues may also apply

Checklist for Timely Compliance

1. Maintain proper books of accounts throughout the year.
2. Ensure DSC and DPIN of designated partners are active.
3. Regularly monitor filing deadlines and reminders.
4. Hire a professional (CA or CS) if needed for accuracy.

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