What are the key components of LLP annual compliance?

The requirements of annual compliance of an LLP are specified under the Limited Liability Partnership Act 2008.

Given below are the important annual compliances in case of an LLP:

Preparation of financial accounts

All LLPs registered under LLP Act 2008 are required to prepare a Statement of Account and Solvency, through the filling of Form 8.

Annual return

As per Section 35 of LLP Act, every LLP has to file the annual return within 60 days of closure of the financial year. This is prepared by filling of Form 11.

Statutory Audit by an Independent Auditor

Statutory Audit is mandatory for LLP only if its annual turnover exceeds INR 40 lakh and/or its total paid-up capital exceeds INR 25 lakh.

Income Tax Return Filing & Tax Audit

According to the Income Tax Act, the filing of Income Tax Return is mandatory for an LLP. If the annual turnover of an LLP exceeds INR 60 Lakhs, it will be applicable for a tax audit.

OUR PROCESS

OUR PROCESS

1. Provide Required Information and Documents over the mail
2. Choose Package and Pay online with different payments modes available
3. On placing the order, your task is assigned to one of our dedicated professional
4. Our professional will prepare books of accounts & annual return of the LLP.
5. Our professional will file ROC and Income Tax Returns