Services|Company and LLP Compliances

LLP Specific Compliances

Ensuring Seamless Compliance for Limited Liability Partnerships (LLPs)

Limited Liability Partnerships (LLPs) are a popular business structure in India, offering the flexibility of a partnership with the limited liability benefits of a company. While LLPs enjoy relaxed compliance compared to companies, they are still required to meet certain statutory obligations under the LLP Act, 2008.

At [TAX WARRIOR], we offer specialized support for LLP-specific compliances, helping you stay fully compliant while focusing on growing your business.

✅ What Are LLP Compliances?

LLP compliances refer to the statutory filings, documentation, and legal procedures that LLPs must follow annually and on the occurrence of specific events. These include annual returns, statements of accounts, income tax filings, changes in partners, and more.

Failure to comply with these regulations can result in heavy penalties, legal complications, and even striking off of the LLP by regulatory authorities.

What We Offer:

Annual Return Filing (Form 11)

Every LLP must file an annual return with the Registrar of LLPs within 60 days of the end of the financial year.

Statement of Account & Solvency (Form 8)

Filing of financial statements and solvency declaration within 30 days from six months after the financial year ends.

Income Tax Return Filing

Filing of ITR for the LLP, including computation of income, TDS compliance, and tax audit (if applicable).

Partner Addition or Resignation

Drafting agreements and filing forms for change in partners or designated partners (Form 3 and Form 4).

Change in LLP Agreement

Any modification in the terms of the LLP agreement must be filed with ROC within the stipulated time.

Change of Registered Office

Assistance with shifting of the registered office of LLP and necessary form filing (Form 15).

Conversion of Partnership Firm to LLP

End-to-end support in converting an existing partnership firm into an LLP, including all legal formalities.

Closure/Winding Up of LLP

Helping LLPs with proper closure process including filing of Form 24 and related documents.

Frequently Asked Questions (FAQs)

1.Is annual filing mandatory for LLPs even if there's no business activity?

Yes. Even if the LLP is inactive or has not done any business, Form 8 and Form 11 must still be filed every year.

2. What are the penalties for late filing?

Delayed filings attract a penalty of ₹100 per day per form, with no upper limit, making it essential to file on time.

3. Do LLPs require a statutory audit?

Only if the annual turnover exceeds ₹40 lakhs or capital contribution exceeds ₹25 lakhs. In such cases, audit by a Chartered Accountant is mandatory.

4. Can an LLP change its business activity?

Yes, but it requires an amendment to the LLP agreement and filing of the necessary changes with the Registrar.

5. Do I need professional help for LLP compliances?

While basic filings can be done in-house, it is advisable to consult professionals for accuracy, legal drafting, and timely submissions to avoid penalties and ensure full compliance.

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