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LLP Annual Compliance
3 Step Assistance Process
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Issued after approval
Get Started
Submit your details in minutes
Speak to an Expert
Get guidance for your business
Get Your Documents
Issued after approval
Overview of LLP Annual Compliance Assistance
LLPs in India may have annual compliance requirements that include preparing and submitting certain documents to the relevant authorities. These may relate to financial statements, partner information, and tax filings. We provide assistance in understanding the applicable requirements, preparing documentation, and supporting the filing process as per the relevant regulations.
How Our Assistance Helps Your LLP
Helps You Stay Informed About Deadlines
Timely filings may help reduce the risk of late fees. We help you understand filing timelines and prepare required documents.
Support in Maintaining Active Status
Staying updated with required filings may help maintain your LLP’s operational status. We assist with documentation and process support.
Supports Professional Record-Keeping
Maintaining organised compliance records may help improve stakeholder confidence.
Supports Documentation for Financial Applications
Organised records may assist during loan or credit evaluations. We help prepare relevant documentation.
Helps You Understand Partner Responsibilities
We provide guidance on regulatory obligations that may affect partner eligibility.
Guidance on Eligibility Requirements
Certain schemes may require documented compliance. We help you understand the documentation needed for applications.
Supports Organised Records for Business Activities
Maintaining proper documentation may help during investor discussions, partnerships, or restructuring.
Support with Tax Documentation
Timely tax documentation may help maintain transparency and clarity. We assist with preparation and filing support.
Helps You Stay Organised for Compliance Reviews
Maintaining records can support smoother handling of regulatory queries. We assist with documentation and filing support.
Supports Better Organisational Practices
Organised compliance records may help strengthen internal processes and stakeholder confidence.
Who May Need LLP Compliance Assistance
The following are general eligibility requirements
Our Step-by-Step
Assistance Process
We provide guidance and support to help you understand and complete applicable LLP compliance procedures.
Maintain Books of Accounts
What Happens
LLPs may be required to maintain financial records such as ledgers, invoices, and statements. We assist in organising your records and preparing structured reports to support compliance.
Annual Return Assistance (Form 11)
What Happens
Form 11 may require details about partners and contributions. We help prepare the required information and support the filing process.
Statement of Account & Solvency Assistance (Form 8)
What Happens
We support preparation of financial statements and guide you through the filing process where applicable..
Income Tax Return Support
What Happens
We assist in understanding tax filing requirements, preparing documentation, and supporting the submission process.
Tax Audit Support (If Applicable)
What Happens
If an audit is applicable, we help coordinate with qualified professionals and support documentation and filing processes.
GST Filing Support (If Applicable)
What Happens
If your LLP is registered under GST, periodic filings may apply. We assist in preparing documentation and supporting the filing process.
Why Founders Choose Us!
Must Know !
Explanation of Technical Terms:
- → Form 8 – Statement of Account and Solvency: This is a mandatory annual submission that presents the financial performance of the LLP and includes a statement from the partners affirming the firm's solvency.
- → Form 11 – Annual Return of LLP: This return provides details about all designated partners, their capital contributions, and any updates in the LLP’s management or structure during the reporting period.
- → DSC (Digital Signature Certificate): A secure digital key issued by certifying authorities to validate and sign e-forms digitally.
- → ROC (Registrar of Companies): The government body under the MCA responsible for regulating and overseeing LLP compliance and registration.
- → ITR-5: The income tax return form designated specifically for LLPs under Indian tax laws.
Common Mistakes to Avoid in LLP Annual Compliance
- 1. Assuming Inactivity Means No Compliance: Filing is mandatory even for dormant LLPs.
- 2. Missing Filing Deadlines: Delays lead to high penalties; Founders First ensures timely alerts.
- 3. Incorrect Partner Details in Form 11: Causes rejections and re-filings.
- 4. Skipping Audit Requirement: Audit rules apply based on turnover.
- 5. Filing ITR-4 Instead of ITR-5: LLPs must use ITR-5, not ITR-4 (for individuals).
- 6. Ignoring ROC Notices: Ignoring a compliance notice can lead to LLP strike-off.
MANDATORY ANNUAL COMPLIANCES & PENALTY (Applicable to LLPs under LLP Act, 2008)
| Form No. / Compliance | When is this Compliance to be done? | Penalty / Consequences for Non-Compliance |
|---|---|---|
| Form 11 (Annual Return of LLP) | Within 60 days from the end of Financial Year (i.e., by 30th May every year) | ₹100 per day of delay (no upper limit) Example: If delayed by 100 days → ₹10,000 late fees Designated Partner Penalty: ₹10,000 to ₹1,00,000 ROC may issue a legal notice and initiate proceedings |
| Form 8 (Statement of Accounts and Solvency) | Within 30 days from the end of 6 months of the Financial Year (i.e., by 30th October every year) | ₹100 per day of delay (no upper limit) Example: 100 days delay → ₹10,000 penalty Designated Partner Penalty: ₹10,000 to ₹1,00,000 ROC can initiate action for continued non-compliance |
| Income Tax Return Filing | By 31st July (if not under audit) By 30th September (if under audit) | Interest on late payment + Penalty under the Income Tax Act |
| Audit Requirement | If turnover exceeds ₹40 Lakhs OR contribution exceeds ₹25 Lakhs | Non-compliance may lead to legal implications and penalties |
| Maintenance of Books & Records | Ongoing throughout the year | ROC may impose a penalty under the LLP Act for failure to maintain |
| KYC of Designated Partners (DIR-3 KYC) | By 30th September every year | ₹5,000 per Designated Partner for failure to file |
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Frequently Asked Questions
Get answers to the most common questions about our services.
Yes, even dormant LLPs must file Form 11, Form 8, and ITR-5.