LLP Annual Compliance in Bangalore

LLP Annual Compliance in Bangalore

Audit and annual filing service provider for LLP registered in Bangalore

Every Limited Liability Partnership’s (LLP) Registered under the LLP Act with Ministry of Corporate Affairs are required to file Annual Return and Statement of Accounts every year irrespective of LLP do business or not.

LLP audit under income tax act and filing of income tax return

An LLP has to close its financial year as on 31st March every year and has to file income tax returns with Income Tax Department. In case of LLP whose annual turnover is more than Rs.100 Lakhs, the accounts have to be audited as required under Income Tax Act as and require to e-file tax audit report in Form 3CA and Form 3CD obtained from a qualified chartered accountant.

If the LLP has incurred Loss during the period, the filing of IT Return in time is necessary to carry forward the Loss to set off against future Profits.

Benefits of LLP annual filing

The benefits of LLP annual Filing are listed as follows:

· Higher Credibility: Annual compliance enhances the organization's credibility, aiding in loan approvals and meeting various requirements.


· Record of Financial Worth: These filings create a financial track record for LLPs, attracting potential investors and partners.


· Stays Active and Penalty-Free: Consistent compliance keeps LLPs from being declared defunct, preventing penalties and additional fees.


             ·  Conversion and Closure: Regular filings simplify the process of converting LLPs into other business structures.

Filing of LLP Statement of Accounts and Solvency:

Every LLP has to close their books of accounts as on 31st March every year and prepare a Statement of Accounts, Statement of Income and Expenditure and Statement of solvency and has to file the same with Registrar of LLP within 30 days from the end of 6 months of the Financial year to which statement of accounts relates ie. 30th October of every year along with prescribed fee.

If LLP fails to file Form 8 with in prescribed time, an additional fee of Rs. 100/- is payable per day till the date of filing.

LLP Audit requirement under Income tax Act and LLP Act

An LLP whose annual turnover exceeds Rs.40 lakhs or whose contribution exceeds Rs.25 lakhs, shall also get its accounts audited by a qualified Chartered Accountant.

In case of LLP whose annual turnover is more than Rs.100 Lakhs, the accounts have to be audited as required under Income Tax Act in additions to LLP Act as required above.

Important Due Date for LLP:

  • LLP Annual Return : 30th May
  • LLP Statement of Accounts : 30th Oct
  • Income tax filing in case tax audit required : 30th September
  • Income Tax filing, in case tax audit not required : 31st July
  • If the LLP has incurred Loss during the period, the filing of IT Return in time is necessary to carry forward the Loss to set off against future Profits.

We are specialised consultant for LLP audit and annual filing in Bangalore and help you complying statutory compliance required as per Limited Liability Partnership Act 2008.


Created & Posted by Navneet Kumar
CA  Article at TAXAJ

TAXAJ is a consortium of CA, CS, Advocates & Professionals from specific fields to provide you a One Stop Solution for all your Business, Financial, Taxation & Legal Matters under One Roof. Some of them are: Launch Your Start-Up Company/Business, Trademark & Brand Registration, Digital Marketing, E-Stamp Paper Online, Closure of Business, Legal Services, Payroll Services, etc. For any further queries related to this or anything else visit TAXAJ



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