Regarding ROC filing LLP, Every Limited Liability Partnerships (LLPs) which are registered with the Ministry of Corporate Affairs (MCA) have to file the Annual Returns and financial statements. Once you have incorporated your LLP then you shall comply with the filing requirement. It doesn’t matter whether your business is in operation or what your turnover is. for example, you incorporated your company in mid-March-18, here you shall do the fling for the Financial year 2017-18 irrespective of the fact that your operation is not yet started in March.
If you are an LLP, below is what you shall comply with roc filing LLP requirement:
LLP annual filing: Annual Returns in LLP Form 11 is a detail of partners, any restructuring or any changes details. Every LLP is required to file Annual Return in Form 11 to the Registrar within 60 days from the closure of financial year which means the filing of annual return of LLP to be done on or before 30th May every year.
Form 11 or Annual Return is Applicable for LLPs registered till the 30th September 2017. If your LLP is registered on or after the 1st October 2017 you do not need to LLP Form 11 in 2018.
Filing the financial statements and profit and loss accounts. LLP Form 8 is applicable in this case and it has to be filed with the Registrar of LLPs on or before 30th October every year
Form 8 or Annual Statements for the year 2018 is applicable for LLP registered till the 30th September 2017. If your LLP is registered on or after the 1st September 2017 then you do not need to file Form 8 in 2018.
If you have not filed the roc forms as prescribed above by due date. You shall pay the interest and late roc filing fees which will unnecessarily increase your expenditure of filing from originally what it should have been. If you are thinking that you will shut the LLP and not pay the fine that is not possible. Once you incorporate an LLP, it becomes mandatory for you to comply with the filing laws. You have to follow the procedure of shutting down the LLP, which is the only way you can get away with the responsibilities under laws. Therefore it is always best to take advisory of professionals about the compliance that you shall be following after incorporating the LLP.
Summary: All LLPs go to CAONWEB and give your compliance worries to professionals or consultants there, you focus on your business and let the advisor focus on your filing compliance requirement.
Chartered Accountant by profession, CA Sanket Agarwal has an experience of above11 years in Cross Border compliance , Import Export , International Taxation & is a passionate content creator.