LLP Annual Filing Due Dates for FY 2023-24

Compliance with regulations is essential for registered businesses in India. A Limited Liability Partnership (LLP) is a business structure that requires a minimum of two members and has no maximum limit. While LLP has fewer compliance requirements compared to a Private Limited Company, it is still crucial to stay updated on significant statutory due dates for LLP annual filings, such as ROC filing, income tax filing, and GST filing. To ensure proper compliance in the financial year 2023-24 (AY 2024-25), we have prepared a calendar with all the necessary due dates for LLP annual filing.

What is LLP Annual Filing?

The annual filing process for Limited Liability Partnerships (LLPs) is essential and involves submitting two ROC forms to the Registrar of Companies annually. Form LLP 11, the Annual Return, must be filed within 60 days from the financial year’s end, while Form LLP 8, the Statement of Account & Solvency, must be filed within 30 days from six months after the financial year ends.

Limited Liability Partnerships (LLPs) are obligated to adhere to legal obligations including the submission of an Annual Return, Income Tax Return, Profit and Loss Account, and Balance Sheet, regardless of whether they engage in business operations or not. LLPs are also required to follow the financial year timeline from 1st April to 31st March, just like companies.

LLP Form 11 due date for FY 2023-24 (LLP Annual Return Filing)- 30.05.2024  

• LLPs registered in India must file an Annual Return with the Registrar of Companies every year.
• The Annual Return needs to be filed in LLP Form 11 within 60 days from the closure of the financial year.
• The Due Date for LLP Annual Return Filing in LLP Form 11 for the FY 2023-24 is 30th May 2024.
• LLPs must submit their Annual Returns and Financial Statements with the MCA, even if they do not have any business.
• LLP Form 11 is a summary of all the changes made in the Management of an LLP during a financial year.
• A NIL return must be filed even if there are no changes or no business conducted by an LLP as it is a mandatory requirement of the Limited Liability Partnership Act.

LLP form 8 Due date for FY 2023-24 30.10.2024

• In addition to LLP Form 11, LLPs must file LLP Form 8 with ROC every year.
• LLP Form 8 is a Statement of Account and Solvency.
• The Due Date for filing LLP Form 8 falls within 30 days from the end of six months of the financial year’s closure.
• The Due Date for filing LLP Form 8 for FY 2023-24 is 30th October 2024.
• LLP Form 8 includes a declaration by designated partners on the solvency state of the LLP.
• LLP Form 8 also contains information about the Statement of Assets and Liabilities and Statement of Income and Expenditure of the LLP.

Due Date for IT Returns for LLP for FY 2023-24

• Income Tax Return Filing is mandatory for LLPs as well as individuals and businesses.
• LLPs must file Income Tax Returns before the due date.
• For FY 2023-24, the due date for filing Income Tax Returns for LLPs that do not require Tax Audit is 31st July 2024.
• For LLPs requiring Tax Audit, the due date for filing Income Tax Returns for FY 2023-24 is 30th October 2024.
• LLPs must file Nil Income Tax Returns even if they did not conduct any business during the financial year.

LLP Form 8 and Form 11 Due Date for FY 2023-24

• If an LLP fails to file its annual filing forms within the prescribed time, it will be liable to pay a penalty depending upon the time of delay in filing.
• The penalty will be applicable from the due date of filing the return till the actual return is filed.

The Designated Partners of an LLP are responsible for maintaining proper Books of Accounts and filing an Annual Return with the MCA each financial year. To avoid penalties, it is advisable for LLPs to file their LLP Form 8 and LLP Form 11 before the due dates.