ROC and tax filing due dates for a Limited Liability Partnership – LLP

Subsequent to incorporation, a Limited Liability Partnership or LLP is required to file its annual return, statement of accounts and income tax return with government to comply with law.

Irrespective of business and turnover, Limited Liability Partnership firm is required to comply with the statutory requirement such as filing of Annual Return, Balance Sheet, Profit and loss Account, Income tax return every year.

Within 60 days from the end of the financial year, the LLP is required to file its annual return in form LLP-11 containing details such as total contribution received by all partners, details of partners, number of partners and summary of partners. This means, form LLP-11 is to be filed on or before 30th May being 60 days calculated from financial year closing date of 31st march.

In addition to form LLP-11, Limited Liability Partnership Firm is also required to file form LLP-8 which is a statement of accounts and solvency within a period of 30 days from the end of six months of the financial year to which the Statement of Account and Solvency relates. This means, due date for filing Form LLP-8 will be 30th October.

In Form LLP-8 statement of accounts (PART-B) and declaration by all designated partners stating whether they are able to pay its debts in full as they become due in the normal course of business or not (PART-A) are to be filed with ROC. This form has to be signed by at least two designated partners and certified by a practicing chartered accountant or Company Secretary or CWA.

Due dates for ROC Annual Filing applicable to a LLP

Form LLP-11 30th October
Form LLP-8 30th May

Annual Audit Applicable to a LLP

LLP is required to undergo annual audit if turnover exceed Rs 40 lakhs in a financial year or contribution exceed Rs 25 lakhs.

This means, if turnover does not exceed 40, 00,000 rupees or contribution does not exceed 25, 00,000 rupees, then LLP audit is not required.

Applicability of Annual Audit to LLP

Turnover exceed Rs 40 Lakhs or Contribution exceed Rs 25 Lakhs Yes, Audit required
Turnover does not exceed Rs 40 Lakhs or Contribution does not exceed Rs 25 Lakhs No, Audit is not required

Income Tax Return filing for a limited liability partnership

Income tax return filing for a Limited Liability Partnership Firm depends on whether such firm is required to carry on tax audit under section 44AB of Income tax act 1961 or not.

As per section 44AB, if the Limited Liability Partnership is carrying on business then tax audit will be applicable only when total sales or turnover for the financial year exceeds Rs 1 Crore.

If Limited Liability Partnership Firm is carrying on profession then tax audit will be applicable in case the gross receipt for the financial year exceeds Rs 50 Lakhs.

In cases where LLP has to carry on tax audit, due date of income tax return filing is to be considered as 30th September of the assessment year. In all other cases due date of filing is 31st July of the assessment year.

Due Date for Tax Return Filing – Applicable to Limited Liability Partnership Firm

Tax Audit u/s 44AB applicable 30th September
When section 44AB tax audit not applicable 31st July

In cases where a Limited Liability Partnership Firm is registered on or after 1st October of financial year then such LLP can close its first financial year either on the closing of same financial year or next 31st March. Which means, if a Limited Liability Partnership Firm is registered on 10th October 2019 then it can close its financial year on 31st march 2020 or by 31st march 2021.

is a fellow member of the Institute of Chartered Accountants of India. He lives in Bhubaneswar, India. He writes about personal finance, income tax, goods and services tax (GST), company law and other topics on finance. Follow him on facebook or instagram or twitter.