Limited Liability Partnerships have to get the books of account audited by practicing Chartered Accountants, especially whose turnover is more than INR 40 lakh or whose contribution has exceeded INR 25 lakh. The deadline to file the LLP Annual return filing is 30th September. But for the LLPs whose tax audit has not required any deadline. So, the due date for tax filing is 31st July.
The LLP Annual return is to be filed in the prescribed Form-11. It is the summary of management affairs of LLP, such as numbers of partners along with their names. Apart from this, the form 11 has to be filed by 30th May each year. Every LLP who is already registered with the Ministry of Corporate Affairs have to file the Annual Returns and Statement of accounts for the Financial Year 2018.
In India, LLP must file its Annual Return within 60 days from the end of close of the financial year and statement of Account and solvency within 30 days from the end of six months of the close of financial year. It is mandatory for LLPs to maintain their financial year as on 1st April to 31st March. Hence, LLP annual return is due on 30th May and the statement of account and solvency is due on 30th October of each financial year. Special care must be taken regarding the Annual Return filing on time as non- compliance attracts a penalty of Rs. 100 per day of default with no ceiling.