LLP Compliance
Limited Liability Partnerships, being distinct legal entities, place the responsibility on the chosen partners to uphold accurate bookkeeping and submit an annual return to the Ministry of Corporate Affairs (MCA) each year.
- Transparent Pricing
- Guaranteed Lowest Prices
- Efficient and Trouble-Free Process
- Free Ongoing Expert Assistance for Life

Get Expert Consultation
Compliances by LLP
Limited Liability Partnerships (LLPs) function as distinct legal entities, imposing on elected partners the responsibility of maintaining accurate accounting records and annually submitting a return to the Ministry of Corporate Affairs (MCA).
LLPs are exempt from auditing their accounts unless their annual turnover exceeds Rs. 40 lakhs or their contribution surpasses Rs. 25 lakhs. Consequently, if an LLP meets the specified criteria, it is not obligated to undergo an audit, simplifying the annual filing process.
LLPs must submit their Statement of Account & Solvency within thirty (30) days after the close of six (6) months from the financial year-end, and the Annual Return within sixty (60) days after the financial year concludes.
In contrast to companies, LLPs are mandated to adhere to the financial year from April 1st to March 31st. Consequently, the Statement of Account & Solvency must be filed by October 30th each financial year, and the annual return for LLPs is due on May 30th every year, irrespective of whether the LLP conducted business during that specific financial year. Certain annual filings are obligatory, even if the LLP did not engage in any business activities.

Some additional facts of LLP Compliances
Accounts and Solvency Statements
Every registered LLP must maintain accurate books of accounts, detailing profits and other financial aspects of the business. Form 8, an annual requirement, necessitates the submission of this financial data. Designated partners must sign the form, and it should be certified by a practicing chartered accountant, company secretary, or cost accountant. Failure to file Form 8 by the specified deadline, October 30th each financial year, incurs a daily fine of Rs. 100.
Filing Annual Returns
LLPs are obligated to file Annual Returns using the prescribed Form-11, summarizing management affairs such as partner details. Form 11 should be submitted by May 30th each year.
Filing and Audit Requirements Under the Income Tax Act
LLPs with a turnover exceeding Rs. 40 lakh or contributions over Rs. 25 lakh must have their books audited by a practicing Chartered Accountant under the Limited Liability Partnership Act, 2008. The deadline for tax return filing, for LLPs requiring an audit, is September 30th.
Note: The threshold limit of Rs.1 crore for a tax audit is increased to Rs.5 crore with effect from AY 2021-22 (FY 2020-21) if the taxpayer’s cash receipts are limited to 5% of the gross receipts or turnover, and if the taxpayer’s cash payments are limited to 5% of the aggregate payments under the Income Tax Act, 1961.
For LLPs where tax audit is not required deadline, the due date for tax filing is July 31st. For LLPs which have entered into any international transactions with associated enterprises or have undertaken specified Domestic Transactions, need to file Form 3CEB. This form should be certified by a practicing Chartered Accountant. Limited Liability Partnerships which are required to file this Form can do their tax filing by 30th November.
LLPs should file their income tax return in Form ITR 5. This form could be filed online via the income tax website with the help of the designated partner’s digital signature.
Forms NDH-1 & NDH-3 should be filed with standard fees and should be approved by the concerned professional.
Limits under Rule 15 of Nidhi Rules 2014 for the grant of loan against certain deposit valuation are:
Deposit Made (Rs) |
Loan Granted (Rs) |
Less than 2 crores |
2 lakhs |
higher than 2 crores but lower than 20 crores |
7.5 lakh |
Higher than 20 crores lower than 50 crores |
12 lakhs |
50 crores or more |
15 lakhs |
Nidhi Company Loan Disbursement Guidelines
A Nidhi company failing profitability in the three preceding financial years cannot disburse new loans exceeding 50% of the maximum cited amount. Members with a history of default in loan repayment are ineligible for new loans.
Loans are granted only against specified securities:
Gold (including gold jewelry)
Silver (including silver jewelry)
Property
Fixed Deposit
Insurance Policy