Annual Compliance – LLP


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LLP Annual Filing

LLP or the Limited Partnership is a hybrid combination of a limited and partnership company. Minimum two partners are required to incorporate an LLP there is no such upper limit.

Limited Liability Partnerships are required to file the annual returns within 60 days from the end of the close of the financial year and account statement and solvency within 30 days from the end of six months of the closure of the financial year.

The financial year for the LLPs starts from the 1st of April to the 31st of March. The annual return for the LLPs is due on May 30th while the statement of accounts and solvency is due on the 30th of October of each financial year.

Besides the MCA annual return filing, the limited liability partnerships must also mandatorily file the income tax return every year.

Mera Online CA provides a comprehensive LLP compliance service that includes annual filing and LLP income tax return filing at a very affordable price point.

Income Tax Rate for LLP

The income tax rate applicable for LLPs registered in India is 30% of the total income. Besides the income tax, a surcharge is levied on the income of the tax payable at the rate of 12% when the total income is exceeding Rs.1 crore.

Health & Education Cess

Health and Education cess of 4% is applicable on the amount of income tax and the applicable surcharge.

Minimum Alternate Tax (MAT) for LLP

Similar to income tax applicable for a company, LLP is also subject to minimum alternate tax. A minimum alternate tax of 18.5% of adjusted total income is applicable for LLP. Hence, income tax payable by LLP cannot be less than 18.5 percent (increased by income tax surcharge, education cess, and secondary and higher education cess).

LLPs Involved in International Transaction

LLPs that entered into an international transaction with associated enterprises or undertook certain Specified Domestic Transactions are required to file Form 3CEB. Form 3CEB must be certified by a Chartered Accountant. LLPs required to file Form 3CEB have 3oth November as the deadline for LLP tax filing.

Procedure for LLP Tax Filing

LLPs must file an income tax return using Form ITR 5. Form ITR 5 can be filed online through the income tax website using the digital signature of the designated partner. After filing an LLP tax return, the taxpayer should print two copies of Form ITR-V.

One copy of ITR-V, signed by the assessee should be sent by ordinary post to Post Bag No. 1, Electronic City Office, Bengaluru–560100 (Karnataka). The other copy can be retained by the assessee for his record.

LLP Tax Payment

LLP tax payment can be made in physical mode through designated banks or E-payment mode. LLPs that are required to get their accounts audited are required to pay tax through e-payment mode only. To pay tax at designated banks, Challan ITNS 280 as provided below must be provided with the tax payment.

LLP Accounts Maintenance

All the Limited Liability Partnership are required to maintain proper account banks on a cash basis or accrual basis. As Private Limited Companies are required to maintain books of accounts only on an accrual basis.

The LLPs have the option of maintaining the books of accounts on a cash basis as well. The books of accounts must be maintained at the registered office of the LLP and must contain all the information like:

  • Money received and spent
  • Assets and liabilities
  • Statement of COGS
  • Inventories and finished goods statement.

At the end of each financial year, the LLPs are required to prepare their financial statements within 6 months for filing with the ROC.

What are Statements of Accounts and Solvency?

All registered LLPs are required to maintain their books of accounts and fill the data regarding the profits incurred as well as other financial data relevant to business and submit it along with Form 8 every year.

Form 8 must be attested by the designated partners by duly signing it. It is also necessary to get it certified by a practicing chartered accountant or a practicing company secretary or a practicing cost accountant.

Failing to filer the statement of accounts and the solvency report within the specified duration will lead to a penalty of Rs. 100 per day.

Annual filing for Limited Liability Partnerships

The LLPs are required to elect the partners for maintaining proper books of accounts and filing the annual return with the Ministry of Corporate Affairs annually.

The book of accounts of the LLPs need not be audited except in case the annual turnover is more than Rs.40 lakh or if the contribution is more than Rs. 25 lakh. Hence, the process of annual filing is simpler for the LLPs. Some of the annual filings are mandatory even if the LLP has begun the business or not.

The due date for Income Tax Returns ( as extended)

The due date has been extended to 10th of January, 2021 from December 31st, 2020 and if tax audit is required for the LLP then the due date for IT returns for LLP has been extended till 15th February,2021 from 31st January, 2021.

Even if the LLP has not done any business for the current financial year, the LLP is required to file a Nil Income Tax returns with the tax authorities.

LLP form 8 Due date

LLP Form 8 is an annual filing is to be filed with ROC every year. Statement of account and solvency shall be filed with the registrar within 30 days from the end of 6 months of the financial year to which the statement relates. The due date for LLP annual filing is 30th October 2020.

This form includes a declaration on the solvency state of the LLP by the designated partners and also information related to the statement of assets and the liabilities and statement of income and the expenditure of the LLPs.

LLP Tax Audit

LLPs are required to get the accounts audited by a practicing chartered accountant if the annual turnover in any financial year exceeds Rs. 40 lakhs or if the contribution exceeds Rs. 25 lakh.

To avail exemption from audits, the LLP accounts must contain a statement by the partners to the effect that the partners acknowledge their responsibilities for complying with the requirements concerning accounting and preparation of financial statements.

Dedicated Advisor

Your LLP will be assigned a dedicated Compliance Manager who will be a single point of contact to help you maintain the compliance for your LLP. You can get in touch with your Compliance Manager at anytime and get assistance on matters related to your LLP’S compliance.


All LLP are required to maintain accounts and prepare financial statements at the end of each financial year. Our Compliance Manager will help your LLP maintain accounts and will prepare the financial statement for your business at the end of financial year.

Form 11 Filing

We will prepare and file Form 11 for your LLP based on information provided by you. To file Form 11, we will require the contribution paid by each partner in the previous year.

Form 8 Filing

We will prepare and file Form 8 for your LLP based on information provided by you. To file Form 8, we will be responsible for preparation of the accounting and financial statements preparation for the company.

Income Tax Return

Income tax return for a LLP must be filed irrespective of income, profit or loss. Hence, even a LLP with no transactions are required to file income tax return each year. LLP income tax return will be due on 31st July if there is no tax audit requirement. If tax audit is required, the LLP income tax return will be due on 30th September.

Annual Compliance – LLP FAQ’s

1. What are the annual compliances for the LLPs?

07 December 2021

An LLP is supposed to file the LLP annual return in Form 11, the financial statement of the accounts and solvency, and the income tax return.

2. Is Form 8 mandatory for the LLPs?

07 December 2021

The LLP Form 8 or the statement of account and the solvency is to be filed every year by all the LLPs that are registered in India. It is filed with the MCA irrespective of the turnover.

3. What are the compliances for the partners in LLP?

07 December 2021

The Partners need to comply with the annual return filing with the MCA, filing the statement of accounts.

4. What is the compliance exemption for the LLPs?

08 December 2021

There are many privileges for the LLPs as compared to other companies there are exemptions from maintaining the minutes’ books, statutory register, annual general meeting as well as flexible rates.

5. Is a board meeting held for the LLPs?

08 December 2021

The Board meeting is conducted by the Board of Directors, here no BOD is involved in the LLPs instead the designated partners run the whole business and are also responsible for the compliance

6. Why is it necessary for the LLPs to comply with the ROC Compliance?

08 December 2021

The LLPs are corporate entities and are operated by the legal rules and the procedures that are the stated in LLP Act 2008. Irrespective of the turnover the LLPs have to file the annual returns giving details on the management on the financial performance. Any delay in the same attracts a heavy penalty.

Terms & Conditions

  • The client will be responsible for paying all types of government fee, penalty and taxes associated with the engagement. Mera Online CA Accountants are only responsible for preparation of accounting and statutory returns. The Client is responsible for the reliability, accuracy and completeness of the accounting records, particulars and information provided and disclosure of all material and relevant information. Clients are required to arrange for reasonable access by us to relevant individuals and documents, and shall be responsible for both the completeness and accuracy of the information supplied to us. Any advice given to the Client is only an opinion based on our knowledge of the Client’s particular circumstances.
  • The client will be responsible for verifying the information contained in such returns and/or filings prior to approving/signing such return/filing. Mera Online CA shall not be responsible for any liability that may arise on account of the information being false and/or incomplete. Mera Online CA shall not be responsible for any delay in making of the requisite filings and the client is solely responsible for the delay and any penalty that may be levied on account of such delay. The client should be aware of the due dates and compliances inter-alia under various laws, acts, regulations and rules
  • Strict confidentiality requirements will be met with no disclosure by us to other parties without your consent, unless otherwise required by law or professional obligation. You may provide us with permission to disclose your confidential information in certain circumstances, or place conditions on the disclosure of certain confidential information. If you do so, we will have permission to disclose the relevant information accordingly, in the performance of our services, unless you instruct us otherwise in writing.
  • Mera Online CA Private Limited will render the services as per the packages availed by the client and bill the client from time to time accordingly. The total base cost for services to be rendered as per scope of services provided shall vary based on the packages availed by the client which shall be inclusive of GST. The package prices are applicable for businesses with turnover up to 25 lakhs. Appropriate charges will be applicable for every additional turnover of INR 25 Lacs. Client availing for Tax & HR Assist Package, the pricing shall be applicable for 5 Employees. For more than 5 Employee, additional charges shall be levied for each employee. The services mentioned in the respective packages shall be delivered to the client. Additional charges will be applicable for business services not included in this package. TDS Filing prices are chargeable on Quarterly basis. ESI, PT, PF prices are chargeable on Monthly basis. In the said packages, the prices are applicable for 100 Invoices in a month. Bulk import charges per 500 Invoices are applicable. The charges for compliance filing may increase depending on the size and complexity of business. In addition to the above charges, statutory auditor fee, penalty and taxes will be chargeable extra on actuals.
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