Annual Filling for LLPs
Annual Filiing for All LLPs shall be under obligation to maintain annual accounts reflecting true and fair view of its state of affairs. LLP is required to file LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually. The ‘Annual Return’ is required to be filed within 60 days of close of the financial year and ‘Statement of Accounts & Solvency’ shall be filed within 30 days from the end of six months of the financial year to which it relates. Every LLP has to maintain uniform financial year ending on 31st March of a year.
- Audit Requirement under LLPs Act:-Only those LLPs whose annual turnover exceeds Rs.40 lakhs or whose contribution exceeds Rs.25 lakhs are required to get their accounts audited by a qualified Chartered Accountant.
- Audit requirement under Income Tax Act:-Audit of accounts is mandotory requirement under Income Tax Act when the annual turnover of LLPs is more than one hundred lakhs rupees.