If you’ve recently formed a Limited Liability Partnership (LLP), congratulations! You’ve chosen a flexible and efficient business structure. But here’s something many new partners overlook—
LLP Compliances.
Despite having fewer obligations than private limited companies, LLPs are still required to follow certain annual compliances. The two most important filings include:
Form 11 – Annual Return, due by May 30
Form 8 – Statement of Accounts and Solvency, due by October 30
These are part of the mandatory LLP Annual Compliances applicable to every LLP, whether or not it’s operational. Even dormant LLPs must file these forms to avoid penalties.
Late filing? The penalty is ₹100 per day per form, with no upper limit! That’s a lot for a missed deadline. Moreover, LLPs must also file income tax returns, and if your turnover exceeds ₹40 lakhs, a tax audit becomes compulsory.
Don’t risk penalties or legal complications. Stay proactive. Whether you manage it in-house or hire a professional, ensure your LLP meets all compliance obligations on time.
Remember: Timely LLP Compliances = Peace of Mind + Business Growth.
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