Mandatory compliances for a Limited Liability Partnership (LLP)

Sr. No.

Requirements

Relevant form to be filed with the Registrar of Companies (ROC)/ Income Tax Department (ITD)

Explanation

Timelines

1.

LLP Agreement

Form 3 (ROC)

Mandatory to file with the ROC

Within 30 days from the date of incorporation.

2.

Books of Accounts

-

All LLPs are required to maintain proper books of accounts on double entry book-keeping system. An LLP whose annual turnover exceeds INR 40 lakhs or partner’s contribution exceeds INR 25 lakhs, shall be required to get its accounts audited by a Qualified Chartered Accountant.

-

3.

Annual Returns

Form 11 (ROC)

It is mandatory for an LLP to file Form 11.

Within 60 days from the end of the financial year.

4.

Statement of Accounts and Solvency

Form 8 (ROC)

It is mandatory for an LLP to file Form 8.

Within a period of 30 days from the end of 6 months of the financial year to which the Statement of Account and Solvency relates.

5.

Income Tax Return

ITR V (ITD)

To be mandatorily filed as per the Income Tax Act 1961.

1. In case audit is not required - 31st July every year; and

1. In case audit is required - 30th September of every year