Important Statutory due dates for LLP Annual Filing FY 2019-20

Meaning of LLP- Limited Liability Partnership

A Limited Liability Partnership means a business where minimum two members are required and there is no limit on the maximum number of members. The liability of the members of an LLP is limited. Here, in this article we have mentioned all important LLP Annual filing due dates. 

What is LLP Annual Filing?

Every Limited Liability Partnerships (LLPs) is required to file its annual return within 60 days from the end of the financial year and Statement of Account & Solvency within 30 days from the end of six months of the close of financial year. 

Even if LLP does not do any business, it has to follow with a statutory requirement such as Annual Return, Income Tax Return, Profit and Loss Account, Balance Sheet, every year. Unlike LLP Companies are required to maintain their financial year, as 1st April to 31st March. 

Latest Read: Important statutory due dates for LLP Annual Filing for the FY 2020-21

LLP Form 11 due date (LLP Annual Return Filing)

• Every LLP registered in India is required to file form 11 within 60 days from the closure of the financial year that means the LLP Form 11 (LLP Annual Return Filing) due date for the year 2020 is 30th may, 2020.
• Every LLP has to mandatorily file Annual Returns and financial statements with the Ministry even if they are not doing any business.
• Annual return or Form 11 is a summary of all the Designated partners like whether there are any changes in the management of LLP or not.
• It is a compulsory requirement of law that even NIL returns should be filed.

Due date for IT Returns (Due dates as extended)

• This is not compliance exclusive to LLPs, but any business (or individual), though all LLPs must also file Income Tax Returns. 
• The last date for filing Income Tax Returns for LLPs which does not require Tax Audit  has been extended to 10th January, 2021 from December 31st, 2020 and if Tax Audit is required then 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, they are required to file a Nil Income Tax Returns with the authorities.

Read the full article:  Due dates extension for Income Tax Return Filing for FY 2019-20

LLP form 8 Due date

• LLP Form 8 is an Annual Filing Form, to be filed with ROC every year.
• Statement of Account and Solvency shall be filed with the Registrar within a period of 30 days from the end of six months of the financial year to which the statement relates that means the LLP form 8 (LLP Annual Filing) due date for the year 2020 is 30th October, 2020.
• This Form contains a declaration on the state of solvency of the LLP by the designated partners and also information related to statement of assets and liabilities and statement of income and expenditure of the LLP.

Late fees for form LLP 8 and LLP 11 filing

• If there is a delay in filing Form 8 and 11 of LLP, penalty of Rs. 100 per day per form is payable from the due date of filing return till the date actual return is filed.

It is the responsibility of the Designated Partners of an LLP to maintain a proper book of accounts and file an Annual Return with the MCA each financial year. Hence it is advisable that you file your form LLP 8 and Form 11 before the due dates.

Contact Ebizfiling to file your LLP annual filings before the time. Call on +919643203209 or mail us at info@ebizfiling.com