Compliance by LLP 2021
- Annual Return is to be filed every year with ROC.
- The statement of Accounts i.e. Profit and Loss statement with Balance sheet needs to be filed with Registrar.
- An LLP whose annual turnover exceeds Rs.40 lakhs or whose contribution exceeds Rs.25 lakhs, shall get its accounts audited.
- An LLP has to close its financial year as on 31st March every year and has to file the returns with Income Tax Department.
- In case of LLP whose annual trading turnover is more than Rs. 100 Lakhs, the accounts have to be audited as required under Income Tax Act as well.
Charges for ROC Annual Return is Rs 5,000/-
Filings of returns are mandatory whether the LLP has done any business or not. Delay in filing the LLP Returns in time will attract a penalty.