Annual fillings for LLP
Every Limited Liability Partnership (LLP) registered in India is required to file two annual returns with the Ministry of Corporate Affairs (MCA) to maintain compliance. Here’s a breakdown of these annual filings:
1. Statement of Account and Solvency (Form 8):
- Due Date: This form needs to be filed within 30 days of the completion of six months from the end of the financial year. For most LLPs with a standard financial year ending on March 31st, the due date for Form 8 filing would be October 30th of each year.
- Purpose: This statement provides a snapshot of the LLP’s financial health at a specific point in time. It includes details like:
- Opening balances of capital accounts, reserves, and liabilities
- Summary of transactions during the six months
- Closing balances of capital accounts, reserves, and liabilities
- A declaration from the designated partners regarding the LLP’s solvency
2. Annual Return (Form 11):
- Due Date: The annual return needs to be filed with the MCA within 60 days of the closure of the financial year. For most LLPs, this translates to a deadline of May 30th each year.
- Purpose: This comprehensive form offers a detailed overview of the LLP’s activities and financial position for the entire financial year. It includes information like:
- Summary of the LLP agreement
- Details of partners and their shareholding
- Changes in partners during the year (if any)
- Details of the LLP’s registered office
- Indebtedness details
- Details of remuneration paid to partners
- Any other prescribed information