LLP Form 11 Annual Return

All The Compliances of LLP Form 11 Annual Return

Online Legal India LogoBy Online Legal India Published On 25 Nov 2022 Updated On 14 Dec 2022 Category Compliance

Limited Liability Partnerships (LLP) established in India under the LLP Act, 2008, are required to file an annual LLP Form 11 Annual Return. The filing of LLP Form 11 is required annual compliance for all LLPs, regardless of sales, profit, or commercial activity. As a result, even inactive LLPs must file LLP Form 11 or face a penalty of Rs.100 each day of late filing. This post will explain how to submit an LLP Form 11 annual return.



LLP Form 11 Annual Return and Its Filing Process


Annual Return of Limited Liability Partnership(LLP). To maintain compliance and avoid penalties, the return must be e-filed with the Ministry of Corporate Affairs each year. The LLP annual return must be filed online and recorded. Because there is no facility for resubmitting the LLP Form 11 Annual Return, it is critical that all of the information entered in the Form is correct.

Filing of LLP Form 11 is not permitted if any eForm 4 (Notice of appointment, cessation, or change in designation of a designated partner or partner) is waiting for fee payment or if any eForm 4 is being processed with the MCA.

  • Total contribution by/to LLP partners
  • Notices received in relation to penalties imposed / compounding violations committed during the fiscal year.


It must be submitted electronically using the MCA site. The e-form must be downloaded and completed offline. Pre-fill is accessible to reduce your efforts, and the Pre-scrutiny button is there to check the data entered. This is done prior to submitting the form online.

LLP Form 11 and Its Recording


Protocol 11 is an annual return that will be filed by all LLPs, regardless of revenue, throughout the year. Accordingly, when an LLP does not finish any specified duty or business during the fiscal year, it is advised that Form 11 be completed.

The income tax filing guide provides fundamental information such as Name, LLP address, Partners / Designated Partners, and other finer details to be recorded, such as

  • A commitment made by/to the LLP's associates
  • Minor specifics of notice of forced/intensified fines incurred throughout the fiscal year

It must be e-recorded on the MCA entry. The e-structure must be downloaded and filled out in a disconnected mode. To limit your efforts, the pre-fill option is available, as is the pre-investigation catch, which accepts the filled-in content. This is done before submitting the form to the web.

What are its essentials?
 

  • The given LLPIN or Limited Liability Partnership Identification Number is necessary to pre-fill the essential data.

  • Statement of commitments/entities obtained by each LLP accomplice

  • Charges should be installed as per e-Form 4 - Notice of arrangement, termination and modification of assignment of an appointed accomplice or accomplice and restructuring 4 should be handled (if applicable).

  • Have your Designated Partner's DSC on hand.


Important Aspects



Some of the key points that all LLPs must remember while submitting the 5-page Form 11 are as follows:

  • Using the Form's pre-scrutiny button can assist verify the data entered. This will aid in error-free data processing (Without mistakes).
  • Wherever figures are disclosed in the forms, they must be recorded as of March 31st.
  • Details of the LLP and/or firm in which the partners/designated partners (DP) are directors/partners. (This information must be attached if any partner/DP is a partner in any Limited liability partnership and/or a director in any other firm.)
  • If one of the following requirements is met, the e-form requires the mandatory certification of a professional Company Secretary:
  • Partners' total contribution exceeds Rs. 50 lakhs.
    OR
  • LLP's revenue exceeds Rs. 5 crores.

If the statistics are within/below the given restrictions, the selected partner can certify the e-form.

Important Notice Regarding the Extension of the Due Date for LLP Form 11 & Other LLP Compliance Forms
 

  • The Ministry of Corporate Affairs has received several requests requesting an extension of the deadline for filing the LLP Annual Return in Form 11 without additional expenses. Taking into account the representations and the transition from MCA-21 Version 2 to MCA-21 Version 3 in mind, the MCA has decided to extend the deadline for filing E-Form LLP 11, i.e. Annual Return of Limited Liability Partnership for the Fiscal Year 2021-22 without paying any additional fees from May 30th to June 30th, 2022.
  •  
  • Moreover, MCA has relaxed the due dates for numerous event-based LLP E-Forms, such as LLP Form 3, which had due dates ranging from February 25th to May 31st, 2022.
  •  
  • The new extended deadline for event-based LLP E-Forms is June 30th, 2022.
  • A step has been taken to encourage Limited Liability Partnerships to comply with their annual reporting requirements.

Documents Required for an LLP Form 11 Annual Return

  • LLP Identification Number

  • The LLP's name

  • LLP office address listed

  • LLP is a business classification (Company, Profession, Product, Occupancy) 

  • LLPs Lead Business Exercises

  • Designated LLP Partners' Subtlety

  • The complete dedication of the LLP's associates

  • Absolute commitment from all LLP partners

  • The Partners Who Have Been Assigned

  • Punishment points of interest imposed on the LLP, assuming any

  • If any, points of interest that might aggravate offences

  • Subtleties of the LLP, as well as an entity in which the Partner / Designated Partner is a Director / Partner

Remember that this cannot be resubmitted until the LLP Annual Return has been recorded. Furthermore, the all-out agreement obtained by all LLP partners listed in the LLP Form 11 Annual Return will satisfy the LLP Form 8 Account and Solvency Statement deadline of October 30th.


Penalty for LLP Form 11 Late Filing


If the Limited liability partnership Form 11 Annual Return is not filed before its due date of May 31, a fine of Rs.100 will be assessed every day until the brashness is corrected. Because the punishment has no end, the sum will eventually rise.
          

  • When registering an LLP, at least two persons must be registered as partners, one of whom must be a citizen and resident of India. The partners in an LLP should be responsible for keeping accurate accounting records, filing income tax returns, and submitting an annual report to the Ministry of Corporate Affairs at the end of each fiscal year (MCA). The partners in an LLP should be responsible for keeping correct accounting records, filing income tax returns, and submitting an annual report to the MCA for each fiscal year.

  • The reports should be produced yearly to ensure the continuation of the LLP, and severe penalties for noncompliance should be prohibited by legislation. A Limited Liability Company is exempt from yearly enforcement. Therefore, annual enforcement is lower than that of private limited partnerships. On the other hand, failure to comply may result in penalties of rupees one lakh for a private limited company. LLP, on the other hand, may face a punishment of Rs.5 lakh.

  • The chosen members must also keep an adequate record together and deliver an annual report in accordance with MCA periodically. A separate legal entity must create LLPs. Except in exceptional circumstances, an LLP is not required to audit the books.

  • The entire income exceeds Rs.40 lakhs.
  • when the company's earnings or expense exceeds Rs.25 lakh
  • Within 30 days of the ending of the six-month term, LLPs must file an account & solvency statement. They must also file an annual return within 60 days after the conclusion of the fiscal year.

Conclusion


An LLP is a corporate form with a minimum of two members and no restriction on the highest number of members. Its compliances are far less stringent than those of a Private Limited Company. Nonetheless, it is critical to maintain track of all major Statutory due dates for LLP Annual Filing, which includes ROC Filing for LLP, Income Tax Filing for LLP, and GST Filing for LLP. It is critical for an LLP to be fully prepared for all ROC as well as other Compliances that must be completed in a given Financial Year.


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