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Annual Compliance – LLP

Original price was: ₹14,000.00.Current price is: ₹8,389.00.

🌟 Complete LLP Compliance and Tax Filing with AutoBizNow

💡 What is an LLP? A Limited Liability Partnership (LLP) combines the flexibility of a partnership with the benefits of limited liability. Governed by the LLP Act, 2008, LLPs are ideal for small and medium-sized businesses. They require a minimum of two partners with no upper limit.

At AutoBizNow, powered by Professional Consultant Solution Planet Private Limited, we ensure seamless compliance, tax filing, and maintenance of your LLP to keep your business on track.

🔑 Key Features of LLP Compliance

✅ Annual Return Filing: LLPs must file their Annual Return (Form 11) within 60 days from the end of the financial year. ✅ Statement of Accounts and Solvency: File Form 8 within 30 days of six months post-financial year-end. ✅ Income Tax Returns: Mandatory for all LLPs, even if there is no income or activity during the financial year.

📅 Key Dates:

  • Form 11 Filing: Due by May 30th.
  • Form 8 Filing: Due by October 30th.
  • Income Tax Returns:
    • Without tax audit: Due by July 31st.
    • With tax audit: Due by September 30th.

🌟 Income Tax Rates and Liabilities for LLPs

✅ Flat Income Tax Rate: 30% of total income. ✅ Surcharge: 12% on tax payable if income exceeds ₹1 crore. ✅ Health & Education Cess: 4% of total tax plus surcharge. ✅ Minimum Alternate Tax (MAT): 18.5% of adjusted total income.

🔍 Compliance for LLPs Involved in International Transactions

💡 LLPs engaged in international transactions or specified domestic transactions must file Form 3CEB, certified by a Chartered Accountant. The due date for this filing is November 30th.

📜 LLP Tax Filing Procedure

1️⃣ File Form ITR-5: LLPs must file income tax returns using Form ITR-5 on the income tax portal. 2️⃣ Digital Signature: The designated partner must sign the return using a Digital Signature Certificate (DSC). 3️⃣ Submission of ITR-V: Post-filing, send one signed copy of the ITR-V to the Income Tax Department’s Bengaluru office while retaining a copy for records. 4️⃣ Tax Payment:

  • LLPs required to audit accounts must pay taxes online via e-payment.
  • Use Challan ITNS 280 for tax payment at designated banks.

📚 Maintaining LLP Accounts

💼 Record Keeping: LLPs must maintain proper accounts of:

  • Money received and spent.
  • Assets and liabilities.
  • Cost of Goods Sold (COGS), inventories, and finished goods.

🗓️ Financial Statements: Prepare financial statements within six months after the financial year ends for filing with the ROC.

🌟 Statements of Accounts and Solvency

✅ Form 8 Filing: Submit solvency and financial statements attested by designated partners and a practicing CA, CS, or CMA. ✅ Penalty: Late filing incurs a penalty of ₹100 per day.

📜 Annual Compliance for LLPs

✅ Form 11 Filing:

  • Includes details of partners and contributions.
  • Must be filed annually by May 30th.

✅ Form 8 Filing:

  • Includes solvency declaration, financial statements, and profit/loss details.
  • Due annually by October 30th.

✅ Income Tax Returns:

  • Mandatory even for LLPs with no transactions.
  • Due dates depend on whether a tax audit is required.

✅ Tax Audit:

  • Required if turnover exceeds ₹40 lakhs or contributions exceed ₹25 lakhs.

🌟 Why Choose AutoBizNow for LLP Compliance?

🌟 Dedicated Compliance Manager: A single point of contact to guide you through all compliance matters. 🌟 Accounting Support: Assistance in maintaining accounts and preparing financial statements. 🌟 Quick Filing: Timely preparation and filing of Forms 8, 11, and income tax returns. 🌟 End-to-End Solutions: From accounting to tax audits, we cover everything. 🌟 Trusted Partner: Backed by Professional Consultant Solution Planet Private Limited, ensuring accuracy and reliability.

📚 FAQs About LLP Compliance and Tax Filing

💬 1. Is compliance mandatory for inactive LLPs? Yes, LLPs must file nil returns and annual forms even if they are inactive.

💬 2. Can LLPs choose cash or accrual accounting methods? Yes, LLPs can maintain accounts on either a cash or accrual basis.

💬 3. What happens if LLP compliance is not met? Non-compliance results in penalties of ₹100 per day for each missed filing.

💬 4. Are LLPs subject to Minimum Alternate Tax (MAT)? Yes, LLPs must pay a minimum tax of 18.5% of adjusted total income.

💬 5. When is a tax audit mandatory for LLPs? A tax audit is required if turnover exceeds ₹40 lakhs or contributions exceed ₹25 lakhs.

📩 Get Started with AutoBizNow Today!

📧 Email Us: info.autobiznow@gmail.com 📱 WhatsApp Business: 9871297057

🎯 Let AutoBizNow manage your LLP compliance and tax filing while you focus on growing your business!

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