The financial year or an LLP starts from the date of its incorporation in case of a newly incorporated LLP and in other cases is start on 01st April and ends on 31st March every year. At the end of financial the designated partners are required to prepare an annual financial statement and the same need to certify it to be true. The books of account of the LLP is required to be kept and maintained at the registered office of the LLP for the period of 8 years.
Employee’s salary needs to be paid within the time after statutory deductions like Professional Tax, TDS, PF and ESIC contribution.
While making payments to vendors, employees, contractors, rent, professional payments etc. TDS must be deducted at applicable rates.