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Online LLP Annual Return Filing
What is LLP Annual Filings?
Now Every LLP which is already registered with the Ministry of Corporate Affairs have to file the Annual Returns and Statement of Accounts for the Financial Year 2018.So There are 3 Main Compliance which is mandatory things for the LLP of the Year 2018. a) Annual Return. b) Statement of the Accounts or you can say Financial Statements of the LLP. c) Income Tax Returns Filings.
So Now Most of the Entrepreneurs in India or startups are confused that filings of the Annual Returns are a mandatory thing even if they are doing the business or not? Then answer is yes, Every LLP has to maintain the compliance even if they are doing the business or not. the reason is simple you know that you are not doing the business but the government of India doesn't know that. so through the annual statements or filings, you are giving information to the government about your organization.
So Let's understand which LLP's have to File the Annual Returns and Income Tax Return for the year 2018.
Filing Annual Return:-
Annual Returns or you can say Form 11 is a Summary of LLP's Partners like whether there are any changes in the management of the LLP. Every LLP is required to file Annual Return in Form 11 to the Registrar within 60 days from the closure of financial year i.e the Annual Returns has to be filed on or before 30th May every year. i.e 30-05-2018 is the last date for filing annual Returns this year.
Note -Form 11 or Annual Return is Applicable on those LLP which is registered until the 30-09-2017. if you LLP is registered after the 01-10-2017 then you have to file LLP Annual Returns in the year 2019.
Filing Annual Accounts or Statement of Accounts or P&L and Balance Sheet:-
Every LLP or any other legal entity from Solo firm to the Private limited company have to prepare their accounts so even you got the information regarding your business that how much profit is earned by your LLP. Every LLP has to close their accounts until the 31st March 2018 this year. There is a lot of software from wave apps to simple spreadsheets where you can maintain the accounts. All LLPs are required to maintain the Books of Accounts in Double Entry System and has to prepare a Statement of Solvency (Accounts) every year ending on 31st March. LLP Form 8 to be filed with the Registrar of LLPs on or before 30th October every year. i.e 30-10-2018 is the last date for filing annual accounts this year.
Note -Form 8 or Annual Statements is Applicable to those LLP which is registered until the 30-09-2017. if you LLP is registered after the 01-10-2017 then you have to file LLP Annual Statements in the year 2019.
Filing Income Tax Returns of the LLP:-
Every LLP has to file the Income Tax Returns for the year 2018. In simple words LLP is a separate legal entity so with the partner's income tax return you have to always file the LLP Income tax return is a form where you show your LLP Income and calculate the tax liability & pay the taxes to the government of India.LLP have to calculate their tax liability from their financial statements for the year 2018.
Mostly Income Tax Return the Last date is 31st July 2018 in this year for the Individual and legal entities. But In the case where Audit is required, the last date for filing Income Tax returns is 30th September 2018. If the LLP has not carried any business during the year ended 31.03.2018, the LLP has to file a NIL IT RETURN with Income Tax Authorities.
Note - Filing of Income Tax Return is Applicable on all the LLP's which are registered until the 30-09-2017. So it's not a matter if you LLP is registered after the 01-10-2017 still you have to file an Income tax return from 01-10-2017 to 31-03-2018.
LLP Annual Filing Due Date:
The Following are the Returns to be filed by an LLP for the year ended 31.03.2018.
While uploading e-forms Digital Signatures of any 2 Designated Partners are required for filings.
Important Points on LLP Annual ComplianceIf you are thinking about the Filings yourself then we suggest you must hire a legal professional because during the filings you need an attestation from the professionals and it's not easy to file and save your taxes because it's a need planning.
If you're LLP are not doing the business even till the date you are not open a current bank account then must file the NIL Returns else liability and penalties will arise and in the future, you can't close your LLP easily.
How DP Accounting and Taxation Service will help you in filing LLP Annual Return forms?
DP Accounting and Taxation Services are providing LLP Annual Return forms service in Ahmedabad, Gujarat, India. Our Price will be Starting from Rs.999/-.
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