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ROC Annual compliance of LLP
- Every LLP files a report
- You can get help with the preparation of your accounts
- Online process that is simple and secure
- Professional Dedicated
- Expert CA/CS Advice
- You can file your ROC annual return in as little as 7-10 days.
- You can get help with the preparation of your accounts
- Online process that is simple and secure
- Professional Dedicated
- Expert CA/CS Advice
- You can file your ROC annual return in as little as 7-10 days.
Our Facts and Figures
ROC Annual compliance of LLP
Introduction to ROC Annual Compliance for LLP
A Limited Liability Partnership is a separate entity, just like Companies. It is governed by the Limited Liability Partnership Act 2008 which stipulates that the partners must maintain the correct book of account and file the same as an annual report with the Ministry of Corporate Affairs. The LLP does not have to undergo a statutory audit of its accounts unless the turnover is over Rs.40 lakhs, or the contribution is above Rs.25 lakh. It is therefore not compulsory for LLPs that do not fall within the specified limit to have their books audited. Making the annual filing process easier.
Limited Liability Partnerships are required to submit two main returns, namely: The Statement of Account and Solvency must be filed within thirty (30) calendar days of the end date of the first six (6) months. An Annual Return is due within sixty (60), days of the end date of the fiscal year. The LLPs must maintain the Financial Year i.e. The Financial Year is from the 1st of April to the 31st of March. The Statement of Account & Solvency must be completed by the 30th of October of each financial year. The annual return for LLPs is due every 30th of May, regardless of whether the LLP had finished its business or not. Certain forms are mandatory to file, regardless of whether the LLP is in business or not.
Types TDS Return Forms:
Annual Filing Forms for LLP:
Form 11
Form 11 is the annual statement. Each LLP must file an Annual Return on Form 11 with the Registrar in 60 days after the close of the financial year. The Annual Returns must be filed by the 30th of May each year.
Form 8
Form 8 is an account statement. Each LLP must prepare and close their accounts by the 31st of March each year. At least two Designated Partners must file Form 8 with the Registrar in 30 days following the completion of six-month Financial Year. The 30th of October each year.
Benefits of ROC Annual compliance of LLP
Credibility and trustworthiness are increased
Compliance with the law is the primary requirement of any business. The LLP that is in compliance with the law attracts potential customers. This is because the date of Limited Liability Partnerships' annual filing on MCA portal is displayed on Master Data. It is a major factor in determining the credibility of a company.
Maintaining the active status of companies
It is important to keep the LLP active by filing the returns continuously. This helps to avoid the heavy penalties. The LLP that does not comply with the provisions or fails to file returns may be removed from ROC registers. This will also affect the partners' status as they become defaulters and are disqualified from any further appointment.
Record of Financial Worth is easily accessible
The Limited Liability Partnership forms are available to companies and potential investors. The financial worth of an LLP can be inspected by the interested party before entering into any contract or undertaking any major project.
Close and convert easily
For the conversion of a Limited Liability Partnership into another organization, the annual filing is essential. The conversion process is made easier if the Limited Liability Partnership adheres to the stated rules and regulations. This also applies if it's a case of closing the LLP. The Registrar may ask for annual compliance even if the LLP is not operational.
Due Date of ROC Filing for FY 23-24
1. Companies incorporated on or before 31st December 2022
Name of Form
Contents
Timeline
Last Date
Form AOC-4
Audited Accounts with Board Report and Auditors Report
30 days from AGM
29th October 2024
Form MGT-7
Annual Return
60 days from AGM
28th November 2024
2. Companies incorporated on or after 1st January 2023 to 31st December 2023
Name of Form
Contents
Timeline
Last Date
Form AOC-4
Audited Accounts with Board Report and Auditors Report
30 days from AGM
29th January 2024
Form MGT-7
Annual Return
60 days from AGM
28th February 2024
Form AOC-4 – Filing of Financial Statements
After approval, the financial statements must be signed by both the auditor and board of directors/KMP (if applicable). The form must be submitted with the Board Report, its annexes and the financial statements. The Form AOC-4 must be submitted within 30 days after the AGM, or by 29th September whichever comes first.
Form MGT-7 – Annual Return
The statement of annual report must be filed by every company within 60 days after the AGM, or the 28th of November, whichever comes first. It contains information about the securities, the details of meetings, the directors, the shareholder, and the transfer details.
Penalty for non-filing of annual accounts with ROC
The companies that are not able to submit Form AOC-4 or MGT-7 by the due date will have to pay an additional fee of Rs.100.00 for each day until the filing date.
Annual Compliance Process of LLP
Factors that will make your decision easier
1. Fill out the application form
Please fill out the simple questionnaire that our team of experts has provided.
2. Document Processing
In the second step, we will require the documents you have provided in the questionnaire so we can organize them according to the requirements and continue processing. We will also determine the deadline for filing.
3. Documentation and drafting of documents
The third step involves drafting the necessary documents that will require the signatures from the Designated Partners. These documents will then be attached to the annual compliance form as an attachment.
4. Prepare E-Forms
Our experts will then verify your case and prepare an E-form along with the documents you have signed.
5. Filling out E-forms at ROC
In this fifth step, we will upload the annual documents of your LLP on your behalf on the Ministry of Corporate Affairs portal.
6. Get the Compliance done
You will receive the status of your form and the generated challan online as soon as possible, confirming that you have met the requirements.
Legal Window is staffed with a team consisting of Chartered Accountants, Company Secretaries and Lawyers that take care of your LLP’s annual compliance needs.
Documents Required For ROC Annual Filing for PVT LTD
Fill out a simple Checklist
Fill out a simple Checklist
A Compliance Manager will contact you from the team Ebizfiling to collect your documents and provide a simple check list for Import Export Code Registration. This checklist must be completed and submitted along with the necessary documents.
Approval
We will proceed to the IEC registration process after verifying all documents. Online, we will fill out Aayaat Niryaat 2A (ANF 2A). Throughout the entire process, you will be kept informed by your Compliance Manager.
IEC Allotment
The Directorate General of Foreign Trade allows you to register an Import Export Code once the documents supporting your application and IEC registration are approved by the Government officer concerned.
5 easy steps
FAQs of ROC Annual Filing for LLP
Is it mandatory for all LLPs to file an annual report?
It is compulsory for all Limited Liability Partnerships registered under the Limited Liability Partnerships Act 2008, regardless of their turnover, capital or transactions. The annual filing is to report on the activities that were carried out during the Financial Year.
Is it necessary to have the books of an LLP audited?
Limited Liability Partnerships are only required to have their accounts audited when the turnover or contribution is greater than Rs.40 lakhs.
When is a Certification by a Practicing Company Secretary required?
A practising company secretary must certify the annual report when the turnover in an accounting year exceeds five crores rupees or the contribution is greater than fifty lakhs rupees.
What are the penalties for non-compliance?
The LLP may be removed from the ROC registers if it fails to comply with the rules and does not file its returns. This will also impact the partners’ status, preventing them from being appointed in any other Company/LLP. A fee of Rs.100 per day will be charged until the filing date.
The LLP Act contains provisions that allow for the compounding of offences punishable only with fines.
When does the first financial year of the LLP finish?
The due dates for LLP compliances depend on the closing of each Financial Year. Every Limited Liability Partnership’s Financial Year should end on March 31. The period of the Financial Year is determined by the month in which the Limited Liability Partnership was incorporated.
- LLPs registered between 1st April – 30th September must close their financial year on the 31st of March in the following calendar year. If the LLP was registered on 1st May 2020, it must close its Financial Year by 31st March 2021.
- The Limited Liability Partnership can choose to end its financial year between 1st October and 31stMarch. If the LLP was registered on 30th October 2019, it can choose to close its financial period on 31st of March 2020 or on 31st of March 2021.
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