Easy & Online ROC Return & ITR Filing By CA for LLP.
Annual Return of an LLP is a mandatory compliance requirement and is applicable to all the LLP which was incorporated during the previous financial year. However, newly incorporated LLP have been exempted from filing the ROC Returns. We can help you to understand the compliance requirements of LLP
The LLP Annual Return is the process by which the LLP files its annual report to the ROC and Income Tax Department for the previous year. These are mandatory filing and if not filed have its serious consequences by way of heavy fines and penalty. We have the most competitive packages for newly incorporated Limited Liability Partnership having low turnover and we guarantee the lowest price in India and willing to match the best quote. The books of account or say financial statement plays a pivotal role to file the ITR and ROC Returns. In the coming section, we are discussing every aspect of the annual return of LLP in a systematic manner.
Due Date of LLP Annual Filing
Partner DIN KYC
Income Tax Return
Annual Filings by the LLP in India
Step Wise Process For LLP Annual Filing
Check If ROC Returns Are Applicable Or Only ITR Needs To Be Filed.
The annual filing is an activity involving ROC as well as Income Tax Returns. Whether or not your LLP has to file Form-11 or Form-8 depends on its date of incorporation. For the newly incorporated LLPm that is on or after 1st October 2019, the ROC Returns are optional for FY 2019-20. ITR and DIN KYC is mandatory in all cases.
Check Validity Of Digital Signature Of All The Designated Partners Of LLP
The ROC Annual Returns of the LLP (Form 11 & Form 8) and its Income-tax Returns are filed electronically after its authentication by the digital signature of the designated partners of the LLP. Check the validity of the digital signature, and if expired, please take steps to renew the same.
Obtain Complete Bank Statement and Identify Transactions
For accounting purposes, we need a complete bank statement of your LLP for the relevant financial year. The bank statement must start from the 1st day of the fiscal year, i.e. 1st April and ends on the 31st March. We suggest you mention the details of the party and the nature transaction against each entry of the bank statement.
Reconcile Your Books and Confirm Balance from Parties.
Now accumulate all the invoices raised and bills of expenses. Please note we follow the accrual accounting system, hence include all the invoices or statements even if the same is unpaid. Further, reconcile with GST and TDS Returns. Ask for ledger from significant parties and reconcile the balance as on 31st March for accuracy of financial statement.
Contact Us, We will do rest
Well done, now is the time for your consultants to prepare the statement of accounts and solvency for your LLP. We will send you the final reports of your LLP for your confirmation and post that will further assist you in filing ROC & Income Tax Returns of the LLP.