CS Divesh Goyal

Post incorporation requirements are obligations which LLP are supposed to fulfill subsequent to incorporation. These include filing of annual returns, change of Partners/ Designated Partners, alteration in Contribution, and change of registered office.

All LLPs shall be under obligation to maintain annual accounts reflecting true and fair view of its state of affairs. Even if LLP does not do any business, it has to comply with statutory requirement such as Annual Return, Balance Sheet, Profit and loss Account, Income tax return every year. The statutory fees will depend upon the capital contribution of LLP.

Regular Works for A LLP under LLP ACT- 2008:-

1. REGULAR E-FORMS REQUIREMENTS & OTHER REQUIREMENTS:

S. No. Agenda Particulars e-forms Due Date Form Filling
STATEMENT OF ACCOUNT & SOLVENCY A “Statement of Accounts and Solvency” in prescribed form shall be filed by every LLP with the Registrar every year. sub-section (3) of section 34 LLP-8 30th October
ANNUAL RETURN Every LLP would be required to file annual return in Form 11 with ROC within 60 days of closer of financial year. LLP-11 30 May

More about Form- 8 and 11:

What is Form – 8?

It is declaration given by all the designated partners of LLP that whether they are able to pay its debts in full as they become due in the normal course of business or not. For the purposes of sub-section (3) of section 34, every limited liability partnership shall file the Statement of Account and Solvency in Form  8 with the Registrar, within a period of thirty days from the end of six months of the financial year to which the Statement of Account and Solvency relates.

Content of Form 8

Part A- Statement of Solvency

Part- B- Statement of Account, Statement of Income & Expenditure

Form- 8 is to be signed by two Designated Partners and certified by CS, CA, CWA (in Whole Time Practice).

What is Form – 11?

Form- LLP-11 is Annual Return containing number of partners, total contribution received by all partners, details of partners, detail of body corporates as partner, summary of partners.

Every LLP would be required to file annual return in Form 11 with ROC within 60 days of closer of financial year.

Due Date of Filling of LLP-11 30th May for each year.

NOTE:

  • If LLP fail to file Form- 11 within prescribe time, the designated partners shall be liable to be punishable with fine which shall not be less then Rs. 25000 but which may be extend to Rs. 500,000/-.
  • It has been provided that incase LLPs file relevant documents after their due dates with additional fees upto300 days, no action for prosecution will be taken against them. In case there is delay of 300 days or more, the LLPs will be required to pay normal filing fees, additional fee and shall also be liable to be prosecuted.
  • The Act also contains provisions for compounding of offences which are punishable with fine only.

REGULAR OTHER REQUIREMENTS:

A. REQUIREMENT OF AUDIT OF ACCOUNT UNDER LLP ACT- 2008 (Rule 24) of LLP Rules – 2009.

LLP1where the partners of such LLP do not decide for audit of the accounts of the LLP, such LLP shall include in the Statement of Account and Solvency a statement by the partners to the effect that the partners acknowledge their responsibilities for complying with the requirements of the Act and the Rules with respect to preparation of books of account and a certificate in the form specified in Form 8.

B. INCOME TAX RETURN:

Every LLP have to file the Income Tax return with the Income Tax Authorities. Filing of returns is mandatory whether the LLP has started any business or not. Date of Filling of Tax Audit is as given below: LLP Tax Audit

APPLICABILITY OF TAX AUDIT ON LLP:

As per Section 44AB of Income Tax Act -1961

LLP Tax Audit 1MEANING OF PROFESSION:

As per Section 44AA and rule 6F following include in Profession: LLP Profession

Meaning of AUTHORIZED REPRESENTATIVE:

A person who represents any other person, on payment of any fee or remuneration, before any Tribunal or authority constituted or appointed by or under any law for the time being in force, but does not include an employee of the person so represented or a person carrying on legal profession or a person carrying on the profession of Accountancy.

FINANCIAL YEAR:

In case LLP has been incorporated on or after 1st October of financial year, then LLP can close its first financial year either on the coming or next 31st March i.e. LLP files its first financial year details for 18 months.

RETURNS AND RECORD REQUIRED BY LLP:

S. No. Agenda Particulars e-forms
Books of Account LLP should Maintain proper Books of Account. N.A.
Minutes Book Minute’s book should be maintained to record minutes of meeting of partner and managing/ executive Committee of partners. N.A.
Change in Partner Any change in partner and designated partner (admission, resignation, cessation, death, expulsion) should be filed electronically within 30 days of change. Form- 4
Supplementary LLP Agreement Such admission and cessation will alter mutual right and duties of partner shall change. Hence, supplementary LLP Agreement will be required to file within 30 days of change. From-3
Heavy Penalty Heavy penalty of Rs. 100/- per day late filling of Return N.A.
Change in Name Any change in Name of LLP should be filed electronically within 30 days of change. Form-5
Change in

Registered Office

Any change in place of registered office of LLP should be filed electronically within 30 days of change. Form- 15

(Author – CS Divesh Goyal, ACS is a Company Secretary in Practice from Delhi and can be contacted at csdiveshgoyal@gmail.com)

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6 responses to “Form and Returns to be filed by LLP with ROC and Income Tax Department”

  1. siva shankar says:

    which form number i have to choose from IT site ?

  2. Amruth says:

    “FINANCIAL YEAR:
    In case LLP has been incorporated on or after 1st October of financial year, then LLP can close its first financial year either on the coming or next 31st March i.e. LLP files its first financial year details for 18 months.”

    Sir, is this applicable only for the purpose of filing with registrar or even for the Income tax return ?

  3. Rohit says:

    Hi,

    My Consulant formed my LLP Company in 2012. I have been filing annual compliances (Form-8 and 11) every year. But, now while filing Form-8, System is asking to file Form-3, which consultant did not file at time of incorporation.

    I am in a big soup now. I want to wind up company, but system does not allow to upload form-24 as well.

    Penalty would be really huge. Please suggest something, if someone found out a way-out.

    email: rohitstar8@gmail.com

    Mobile: 8130453096

  4. nandha kumar says:

    dear sir,
    we forget to file form 11 and we want to defunct our llp, but we filled our form 8 before October30th,now today we file our form 11 it shows additional fees Rs.18000/-
    we wanna close our llp and don’t have a business,while filling form24 it shows form 11 required ,so please tell me the alternative way to close our llp.

  5. S P Sharma says:

    In Co’s Act, default in filing form attracts penalty @Rs.100 per day subject to a cap of 12 times of normal fees. What is provision in LLP Act?

  6. Kishan says:

    Thank You
    Nice Compilation

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