A Limited Liability Partnership (LLP) is a hybrid business structure combining the benefits of a partnership and limited liability of a company. LLPs have specific compliance requirements under the Limited Liability Partnership Act, 2008 and the Income Tax Act.
| Compliance Type | Description & Frequency |
|---|---|
| Incorporation Documents | File incorporation forms (FiLLiP) with MCA |
| Annual Return (Form 11) | Submit yearly details of partners and LLP within 60 days from the end of the financial year (i.e., by 30th May) |
| Statement of Account & Solvency (Form 8) | File financial statements and solvency declaration annually within 30 days from the end of 6 months of the financial year (i.e., by 30th October) |
| Income Tax Return (ITR-5) | File tax return annually for LLP’s income |
| Tax Audit (if applicable) | Required if turnover exceeds ₹2 crore or income exceeds ₹50 lakh |
| GST Compliance | Monthly/Quarterly GST returns if registered |
| Other Statutory Registrations | Maintain registers, hold partners’ meetings if applicable |
| Compliance | Due Date | Purpose |
|---|---|---|
| Form 11 (Annual Return) | 30th May | Updates MCA on LLP’s partner details |
| Form 8 (Financial Statements) | 30th October | File audited/unaudited accounts and solvency declaration |
| Income Tax Filing (ITR-5) | 31st July (or 30th Sept if audit applies) | Report income, pay tax |
| Tax Audit Filing (if applicable) | 30th September | Audit of accounts as per Income Tax Act |
LLP Agreement
Financial Statements (Profit & Loss, Balance Sheet)
Bank statements
Partner details (DIN, address, PAN)
Tax audit report (if applicable)
Penalties ranging from ₹100/day up to ₹1,00,000 for delayed filing of annual returns and statements
Legal consequences including strike-off of LLP from MCA records
Interest and penalties on delayed tax payments or non-filing of ITR
