Annual Filings for LLP FY 2020-21.
This is all about the Annual filing of LLP (Form 11 and Form 8), for the financial year ending 31st March of every financial year with Registrar of Companies (MCA).
What is LLP’s Form – 8?
Form 8 is self-declaration from all the designated partners of LLP, saying that we are capable to pay all the debts which become due in their normal course of business.
It’s a simple statement of accounts, shall be filed by every LLP within 30 days along with a fee, from the end of 6 months of the financial year.
What details shall provide in Form – 8?
in Part – A Statement of solvency
in Part – B Statement of Accounts & Income and expenditure report.
Attachments, MSME disclosure report
Form 8 is to be digitally signed by 2 designated partners, certified by Company Secretary in practice
What is LLP’s Form – 11?
E Form-11 is an annual return.
What details are required under Form – 11?
under form 11, the details required are, number of partners, total capital contribution received from partners, details of partners, details about there contribution, a summary of partners etc.,
Due Date for form 11.
Every LLP shall file its annual return form 11, within 30 days from the end of the financial year., that is 30th May for each year., however, due to pandemic, the due date for form 11, extended to 31st Aug 2021.
|Types of Forms and Due Date|
|Type of form||LLP Registered on:||Due date of filing|
|Form 11||Up to 30th September||30th May|
|Form 11||on or after 1st October||Next Year, 30th May|
|Form 8||Up to 30th September||30th October|
|Form 8||on or after 1st October||Next Year, 30th October|
Note: apart from LLP annual return, Income-tax return shall be filed, for more about ITR,
What are the important factors to be kept in LLP compliance?
1. Books of Account.
According to LLP Act, the LLP is mandated to maintain the Books of Account.
Keeping the track of all the activities that your LLP is involved into and analysing the economic impact of the same is very much important. Record all your purchase, sales and other financial transactions by maintaining the books of account.
2.LLP annual filing
A return summarizing your business and its financial position, summary of management affairs of LLP, like number of partners along with their names as on 31st March 2021 must be filed with the Registrar. The same must be done through filling the two forms.
|Form||Due date||Late fee|
|Form 11- Annual Return||31st July 2021(extended)||₹100 per day of delay|
|Form 8- Statement of Account||30th October 2021||₹100 per day of delay|
3. Income tax return.
Every LLP is mandated to file the income-tax return of the LLP with the income tax department before due date.
|Annual Turnover||Forms||Due date|
|Less than 1 crore||ITR 5||31st July 2021|
|More then 1 crore||ITR 5 & 3CA, 3CD (Tax audit)||30th September 2021|
4. KYC of partners (designated partners)
Every designated partner of the LLP shall make his KYC with Roc for the period ending 31st March 2021, KYC must be filed with the Registrar. The same must be done through providing, DSC, pan, aadhar, recent bank statement, mobile no and email
|Form||Due date||Late fee|
|DIR-3 Kyc||Before filing annual return||₹5000 per partner|
Note: if LLP fails to file returns, an additional late fee Rs.100/- per day, is payable till date of filing.
for any clarifications on the LLP Return, kindly reach us.