Manage your LLP's Annual Complaince
Simplifying the maintenance of LLP’s Annual Compliance starting at Rs. 3,500/-
LLP Annual Complaince
All LLPs registered with the Ministry of Corporate Affairs need to file Annual Returns and Statement of Accounts for every Financial Year. It is mandatory for a LLP to file a return irrespective of whether it has done any business.
LLPs in India must file their Annual Return within 60 days from the end of financial year and Statement of Account & Solvency within 30 days from the end of six months of close of financial year. Unlike Companies, it is compulsory for LLP’s to maintain their financial year, as 1st April to 31st March. Therefore, LLP annual Filing is due on 30th May and the Statement of Account & Solvency is due on 30th October of each financial year.
There are three mandatory compliance requirements to be followed by LLPs.
Filing of Annual Return
Filing of Statement of the Accounts or Financial Statements
Filing of Income Tax Returns
Eligibility under the Government Start-up Plan
One of the entities eligible to take benefits of the start-up plan launched by the government is a LLP. It may be an encouraging reason for a venture to choose this form of business model.
Audit not required
A LLP does not require audit if it has less than Rs. 60 Lakhs of turnover and less than Rs.25 lakhs of capital contribution. Therefore, LLPs are ideal for start-ups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities.
Permission for Foreign Direct Investment (FDI) in LLP
As per the press note released by DIPP reviewing the FDI Policy 2015, the government has opened new doors for LLP. FDI is now permitted in LLPs operating in sectors/activities where 100% FDI is allowed, through the automatic route and there are no FDI-linked performance conditions.
What is Included in our Package?
1. Annual Return Preparation
2. Annual Return Filing
3. Registration Fees
Procedure for LLP Annual Filing
LLP Annual Filing
Mybizaid helps file the mandatory annual return for your LLP and maintain annual compliance with the Ministry of Corporate Affairs.
Annual Return Preparation
Mybizaid will prepare the Annual Return for your LLP based on the financials and performance during the previous financial year.
Annual Return Verification
Once the Annual Return is prepared in the requisite format, the client’s Finance Team can verify the prepared annual return and affix the digital signature.
Once the Annual Return is prepared and verified, the Annual Return can be filed with the Minsitry of Corporate Affairs along with the necessary attachments.