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LLP Annual ROC Filing and ITR

Easily Mandatory Compliance for all LLP

Every LLP is under an obligation to file Form 11 and Form 8 with the ROC and Income Tax Return for the previous financial year, which ended on 31st March 2019. These compliance are mandatory in nature and if not filed within time results in a heavy penalty.

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LLP Annual ROC Filing and ITR

LLP Annual ROC Filing and ITR

The LLP has to prepare and file the following three returns for the past previous year within its prescribed due dates. These are mandatory in nature, team setindiabiz shall be assisting to prepare and file necessary returns in a timely manner

  1. Form -11 : File before 30th May 2019
  2. Income Tax Return: File before 31st July 2019
  3. Form - 8: File before 30th October 2019

Please note that Form 11 and Form 8 is mandatory only in case the LLP has been incorporated on or before 30th September 2018. Howber Income Tax return is mandatory for all the LLP. We have the most competitive packages for startup LLP having low turnover and we guarantee the lowest price in India and willing to match the best quote. For filing of Form 8 and Income tax return, we would rely on the books of account of the LLP. In case you are facing challenges in accounting, we can help, please contact us.

LLP Annual ROC Filing and ITR

Key Pointers on the LLP Annual Compliance

Form -11 (Annual Return of LLP)

Form -11 (Annual Return of LLP)

The form 11 is also known as the annual return of the LLP to be filed online to ROC, it contains information about the partners, their contribution to the capital, a summary of changes in the partners of the LLP, its address, etc.

Income Tax Return for FY 2018-19

Income Tax Return for FY 2018-19

The ITR filing for the Financial Year 2018-19 must be filed before 31st July 2019 after making payment of applicable income tax. Even if the LLP is incorporated on the last day of the FY, The ITR has to be submitted.

Form - 8 (Financial Report of LLP)

Form - 8 (Financial Report of LLP)

Form 8 is a financial report to ROC, which is also known as the statement of accounts and solvency, which pertains to the previous financial year. The due date of filing Form 8 is 30th October 2019 for the FY 2018-19

Statutory Audit of LLP

Statutory Audit of LLP

Every LLP having a turnover in excess of 40 Lac or if the capital is more than 25 Lac, then a statutory audit of the books of the account becomes mandatory, which must be done by a CA in full-time practice

LLP Annual Compliance Packages

Please request a customized quote if the turnover is in excess of Rs. 10 Lac during FY 18-19

Prepare for Annual Compliance of LLP

01

DATA COMPILATION

The ROC Annual return of LLP (Form -11) is an annual information report to the ROC about various changes which might have taken place in LLP. Compile the data of all changes like partners, address, etc.

02

FILING OF FORM - 11

The eform form 11 must be filed with the digital signature of two designated partner before 30the May 2019. The government is only Rs. 50, however, if late the additional fee is Rs. 100 for each day of delay.

03

ACCOUNTING

The of the books of account is fundamental for filing ITR and Form 8. You should cross check compliance of TDS, GST and advance tax payments and then the Financial Statements for the LLP

04

ITR FILING

The first step towards the ITR filing is the creation of the profile of LLP on tax portal, thereafter made a computation of tax payable based on the financial statements and finally filing of the ITR.

05

FILING OF FORM 8

The annual financial return must be filed to the ROC in form 8, before 30th October 2019, this is a declaration of solvency of the LLP. The normal filing fee is only Rs. 50, however, the delay will cost you Rs. 100 for each day of delay.

Frequently Asked Questions

What is the meaning of First Financial Year for LLP Annual Return filing with ROC?

The meaning of financial year for income tax and the ROC filing is different. For the ROC filing, the financial year is a period starting from the date of incorporation and ending with next 31st March. However, in case the LLP is incorporated after 30th of September then the financial year ends on next to next 31st March. For Example.

For LLP incorporated before 30th September, during the calendar year 2018, the first financial year shall end on 31st March 2019, and thus would be required to file Form 11, Form 8 and Income Tax Return before their respective due dates.

For LLP incorporated after 30th September, during the calendar year, the financial year shall be an extended period beyond 12 months, and it shall end on 31st March 2020. Thus during the year 2019, there is no ROC Return which shall be filed in the year 2019. However, in all cases, the Income Tax Return shall be filed before 31st July 2019

What is the meaning of Financial Year for the filing of Income Tax Return for an LLP?

The financial year for the purpose of ITR of the LLP is a period starting from 1st of April to next 31st March. Even if the LLP is incorporated on 31st March 2019, the financial year shall be 2018-19 and the LLP incorporated between 1st April 2018 to 31st March 2019 shall be required to file its ITR before 31st July 2019.

What is the government fee, due date, and Form for filing the Annual Returns of an LLP?

The LLP is required to file two return with the Registrar of Companies through the e-filing portal of MCA. To submit the returns digital signature of the designated partner is needed. Please refer below table for the due dates

Form Name Due Date Normal Govt Fee Additional Fee for Late Filing
Form - 11 30 May 2019 Rs. 50 Rs. 100 for each day of delay
Form - 8 30 Oct 2019 Rs. 50 Rs. 100 for each day of delay

What happens if Form 11 and Form 8 for an LLP is not filed on time?

The non-filing of Form - 11 and Form - 8 is a serious non-compliance of the LLP Act, 2009. These returns can be filed late with an additional fee of Rs. 100 for each day of delay

For example - If the return filing of LLP is delayed by three months, then the extra charge would be Rs. 9,000 for each form. There are two forms, ie. Form 11 and 8, thus the total additional fee shall be Rs. 18,000/- which keeps on increasing with Rs. 200 for every day of delay.

What happens if the Income Tax Return is not Filed on its due date?

The due date for filing the ITR of LLP is 31st July 2019, for the Financial Year 2018-19. However, in tax audit cases the return may be filed up to 30th September. In case you are not able to file ITR of LLP within its due date then it can still be filed up to 31st March 2020, However following are the adverse consequences of the belated return of Income Tax of the LLP.

  • The Income Tax Department shall send notice and impose a penalty for late filing of ITR.
  • The accumulated losses or unabsorbed depreciation cannot be carried forward to the next financial year
  • The belated returns cannot be revised
  • Late filing of ITR adversely affects the rating of LLP

Who can certify Form 11, i.e., Annual Return of LLP?

The Form-11 needs to be certified by at least two Designated Partner, however in case, turnover of LLP exceeds five crores or the contribution of LLP is more than 50 lakh then the annual return of such LLP needs to certified by a practicing company secretary.

What is the penalty for Non Filing of the Annual Return?

Any contravention of the timeline in filing/ non-filing as such is a punishable offense with a penalty on the LLP which shall not be less than Rs. 25,000/-, however it may extend to Rs. 5 lakh and each Designated Partner of the LLP is further punishable with a fine which shall not be less than Rs. 10,000 but may extend to Rs. 1 lakh.

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