LLP has to file Form 11 by 30 May 2020. Know all Annual Returns to be filed for LLP?
What are Annual Returns to be filed for LLP?
All LLP registered under the Limited Liability act, 2008 is required to file two forms annually. A LLP has only few compliances as to be followed during the year compared to companies. The forms are Form no 8 and Form no 11. Annual return is to be filed by the LLP irrespective of the turnover during the financial year. The annual return is to be filed with the Ministry of Corporate Affairs to maintain compliance and to avoid penalty. It is important to ensure that all the information filed in the Form is correct as there is no provision for resubmission of Annual Return. The following are the due dates for filing of annual return:
| Form no | Due date |
| Form 11 | 30th May of the next year |
| Form 8 | 30th October of the next year |
Though there is Lockdown in India till 17 May as per Government of India Announcement because of Coronavirus / COVID-19 the due dates for Form 11 for LLP is extended by MCA up to 30 september 2020.
Many Directors and Professional cannot upload form without Digital Signature. There should be option given to sign by director and professional by OTP from registered Mobile Number.
Annual returns to be filed by the LLP:
Below are the annual returns the LLP are required to file during the year:
Form 11: Annual return:
Form -11 is considered as the summary of the management affairs of the LLP, like numbers of partners along with their names. The due date of form 11 has to be filed by 30th May every year.
The following are the information and documents required for filing LLP Form 11:
- LLP Identification Number
- Email of the authorized person
- Business Classification of the LLP (Business, Profession, Service, Occupation, Others)
- Principal business activities of the LLP
- Details of Designated Partners and Partners of the LLP
- Total contribution received from all partners of the LLP
- Details of all Partners of LLP
- Particulars of penalties imposed on the LLP, if any
- Particulars of compounding offenses, if any
- Declare whether the turnover of the LLP has crosses Rs. 5 crore during the year
Documents to be attached: Details of LLP and or company in which Partner/Designated Partner are a Director/Partner is to be attached with form 11 along with the above details. It is mandatory to attach this detail in case any Partner/Designated Partner is a partner in any LLP and/or Director in any company
Late fees for filing: In case the LLP files the annual return after the due date then a penalty of Rs. 100 per day is charged till the date of filing the return.
Form 8: Statements of accounts and Solvency:
Each and every LLP registered under the Limited Liability act 2008 are required to have provide the details of their books of accounts in place and provide all financial data with respect to the profit made, and other data with regards to business and such data is to be submitted by the LLP Form 8 every year. Form 8 must be attested by the signatures of the designated partners and should also be certified by a practicing chartered accountant or a practicing company secretary or a practicing cost accountant. Form 8 is to be filed by the LLP by 30th October of the next financial year.
The following are the information and documents required for filing LLP Form 8:
- LLP Identification Number
- Email of the authorized person
- Profit and Loss of the LLP for the year ended
- Balancesheet of the LLP for the year ended
Documents to be attached:
a. Statement of MSME Disclosure in below format:
TO BE TAKEN ON LETTER HEAD OF LLP
WE M/S ______________________ LLP, HEREBY DISCLOSING AS UNDER
| ITEM NO. | DISCLOSURES REQUIRED UNDER THE MICRO, SMALL & MEDIUM DEVELOPMENT ACT, 2006 |
| I | Delayed payments due as at the end of each accounting year on account of Principal – Rs. ___________ and Interest due thereon – Rs. __________ |
| II | Total interest paid on all delayed payments during the year under the provisions of the Act – Rs. _________ |
| III | Interest due on principal amounts paid beyond the due date during the year but without the interest amounts under this Act – Rs. _________ |
| IV | Interest accrued but not due– Rs. ______ (Represents interest accrued as at the end of the year but not due as interest is computed at monthly rests from the due date) |
| V | Total Interest Due but not paid – Rs. _________(Represents all interest amounts remaining due together with that from prior year(s) until such date when the interest was actually paid to the small enterprises. Mainly to ascertain the amount of interest disallowable for income tax purposes) |
| DPIN | NAME | SIGN |
Date: ____________ Place: _________________
b. Copy of Profit and Loss a/c and Balance sheet for the year ended
Late fees for filing: In case the LLP files the annual return after the due date then a penalty of Rs. 100 per day is charged till the date of filing the return.
