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ROC Compliance for Pvt Ltd Company by Legal Pillers (1)

LLP i.e. Limited Liability Partnership was introduced in the year of 2008 in India. This business structure offers the benefits of both private limited and partnership firm. All the partners of an LLP have limited liability up to the contributions they made. It is a separate legal entity from its partners. But here comes the responsibility also which is LLP ROC Filing. Here we will tell you about the essential compliances of an LLP.<br><br>Benefits of LLP ROC Filing in India<br>Easy & Lesser Compliance<br>Enhanced Credibility<br>Better Goodwill<br>Avoidance of Penalties<br>Easy Conversion & Closure<br>Proper Financia

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ROC Compliance for Pvt Ltd Company by Legal Pillers (1)

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  1. Important LLP ROC Filing in India • LLP i.e. Limited Liability Partnership was introduced in the year of 2008 in India. This business structure offers the benefits of both private limited and partnership firm. All the partners of an LLP have limited liability up to the contributions they made. It is a separate legal entity from its partners. But here comes the responsibility also which is LLP ROC Filing. Here we will tell you about the essential compliances of an LLP.

  2. Benefits of LLP ROC Filing in India Benefits of ROC of Company includes- • Easy & Lesser Compliance • Enhanced Credibility • Better Goodwill • Avoidance of Penalties • Easy Conversion & Closure • Proper Financial Track Record for LLPs

  3. LLP ROC Filing in India • LLP Form 3 (LLP Agreement) • Basically, Form 3 is the LLP agreement which is mandatory to file post incorporation. LLPs need to file Form 3 with ROC i.e. Registrar of Companies within 30 days from the date of incorporation.

  4. LLP ROC Filing in India • Filing Form 8 (Account and Solvency Statement) • Every LLP needs to file Form 8 that includes the details of books of accounts & statements of solvency. LLPs need to file this form by October 30 of each year. This form should be signed by a qualified chartered accountant or practicing company secretary. • Filing Form 11 (Annual Return) • LLPs must have to file form 11 which is an Annual return. Basically, Form 11 is the summary of the management activities of the LLP including number of partners & their names. You need to file this form within 60 days from the end of the financial year i.e. May 30th of every year.

  5. LLP ROC Filing in India • Tax Audit • It is not mandatory for the LLPs to get their accounts audited. LLPs required to audit their book of accounts only in case if the contribution of a partner exceeds Rs. 25 Lakhs or it has an annual turnover of Rs. 40 Lakhs. • Income Tax Return Filing • Income Tax Return Filing is mandatory for LLPs. LLP have to file their Income Tax Return with ITR 5. The due date of ITR Filing for LLPs will be July 31st (in case of no need of tax audit) or October 31st, 2024 (in case tax audit is required). The ITR of LLPs must be certified by a qualified chartered accountant..

  6. LLP ROC Filing in India • Filing Form DIR 3 KYC (Designated Partner KYC) • The designated directors of LLPs must have to approve their DIN allotment via Form DIR 3 KYC. They need to file this form on or before September 30th of each year. If any designated director skipped to file this form, then they will be liable to pay a penalty of Rs. 5000/-. • These are the major compliances of LLP ROC Filing that LLPs need to make sure about. If you missed any ROC filing then you need to pay the hefty penalties.

  7. Final Words • LLP ROC Filing in India is very important for the smooth functioning & legal compliance of LLPs. You can maintain the transparency, accountability, & trust by fulfilling these requirements. The designated directors of LLPs must stay updated with the latest regulations. For a better experience you can seek the expert assistance of professionals like Legal Pillers.

  8. Thank you very much! +91 9267941961 info@legalpillers.com www.legalpillers.com

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