In India, if you have registered your business enterprise, it’s miles vital to take a look at vital compliance to your business enterprise form. If we speak about A Limited Liability Partnership, which may be a business enterprise form with a minimum huge style of participants and having no impediment on the maximum huge style of participants, the compliance of an LLP is way lesser than that of a Private Limited Company. Nonetheless, it’s miles vital to preserve track of all the big Statutory due dates for LLP Annual Filing that includes ROC Filing for LLP, Income Tax Filing for LLP, and GST filing for LLP. It can be very crucial for an LLP to be properly prepared for all the ROC further to special Compliances to be met in a specific Financial Year. Here, we have got prepared a calendar for all the Important Statutory Due Dates for LLP Annual Filing for FY 2021-22 (AY- 2022-23).
What is LLP Annual Filing?
It is important for every LLP (Limited Liability Partnership) to prepare and positioned its Annual ROC Forms with the Registrar of Companies. Every Year, an LLP is wanted to record ROC Forms namely:
- Form LLP Eleven: Form LLP 11 is an Annual Return of an LLP that desires to be filed withinside the length 60 days from the surrender of a Financial Year.
- Form LLP Eight: LLP Form 8 is a Statement of Account & Solvency withinside the 30 days counting from the surrender of six months of the ultimate of an economic year.
For every Limited Liability Partnership, it’s far vital to comply with the statutory requirements which incorporate Annual Returns, Income Tax Returns, Profit and Loss Accounts, and Balance Sheets, every year, even if it does now not do any business.
Just like Companies, Limited Liability Partnerships (LLPs) are required to hold their economic year, as 1st April to 31st March.
Due date for LLP Form 11 (LLP Annual Return Filing) for FY 2021–2022 is 30 May 2022.
- The Limited Liability Partnerships i.e. LLPs registered in India should record an Annual Return with the Registrar of Companies every year.
- This Annual Return of an LLP desires to be filed in LLP Form 11 withinside 60 days from the closure of the economic year.
- That way the Due Date for LLP Annual Return Filing in LLP Form 11 for the FY 2021-22 might be 30th May 2021.
- Even if the LLP does now not have any industrial business enterprise, it’s miles essential for every LLP to put up its Annual Returns and Financial Statements with the MCA (Ministry of Corporate Affairs). LLP Form 11 i.e. LLP Annual Return isn’t always something but a summary of all the modifications made withinside the Management (Designated Partners) of an LLP in the course of an economic year if any.
- It is a should the requirement of the Limited Liability Partnership Act hence, even if there are not anyt any modifications or no industrial business enterprise done through the manner of approach of an LLP, a NIL move lower back should be filed
Form LLP 8 Due date for FY 2021–2022: October 30, 2022
- Apart from filing LLP Form 11, an LLP is wanted to record one more form every 12 months with ROC i.e. LLP Form 8.
- LLP Form 8 is an Annual Filing Form that could be a Statement of Account and solvency.
- The Due Date for filing the Statement of Account and Solvency falls withinside 30 days from the forestall of six months of the closure of the economic 12 months.
- That technique the Due Date for filing LLP Form 8 with ROC for the FY 2021-22 might be 30th October 2022.
- LLP Form 8 is an announcement with the useful resource of the use of the precise partners in the country of the solvency of the LLP.
- LLP Form 8 moreover includes the statistics about the Statement of Assets and Liabilities and Statement of Income and Expenditure of the LLP.
Date With the Aid of Using Which Llp It Returns for Fy 2021–2022 Is Due.
Income Tax Return Filing is a Compliance that now not quality LLPs but moreover any person or business enterprise desires to be complied with.
That is to say that every one of the LLPs is required to document Income Tax Returns on or in advance of the due date.
For the Financial Year 2021-22, the very last date for filing Income Tax Returns for LLPs which do now not require Tax Audit is 31st July 2022 and if Tax Audit is wanted then the due date for IT Returns for LLP is 30th September 2022.
Even if the LLP has now not done any business enterprise for the present-day monetary year, they will be required to document a Nil Income Tax Return with the Income Tax authorities.
Late Filing Fines for Forms LLP 8 and LLP 11
- If an LLP does now not document its LLP annual filing forms withinside the prescribed time, then there might be a penalty of Rs. a hundred in keeping with the day in keeping with form is payable from the due date of filing move lower back till the date the actual move lower back is filed.
It is the responsibility of the Designated Partners of an LLP to hold proper Books of Accounts and document an Annual Return with the MCA each monetary year. Hence it’s miles encouraged that you document your form LLP 8 and LLP Form 11 in advance of the due dates.