LLP Form 11 Filing in India
Limited Liability Partnership (LLP) is a popular business structure in India that combines the benefits of a partnership and a company. It provides partners with limited liability while allowing them to actively participate in business management. Filing the annual return is a crucial regulatory requirement imposed on Limited Liability Partnerships (LLPs) registered in India. As per the LLP Act of 2008, LLPs must submit their Annual Return each year, specifically through LLP Form 11.
At FilingIn, our experts are here to help you file your LLP Form 11 efficiently and accurately. Get started today to ensure timely and hassle-free LLP compliance!
LLP Annual Return:
The Limited Liability Partnership (LLP) Annual Return is a mandatory filing that must be submitted annually to maintain compliance with the Ministry of Corporate Affairs (MCA). It must be filed electronically and contains important details, including updates regarding the LLP’s management and partners. It’s vital to provide accurate information in the form, as once submitted, the form cannot be resubmitted.
LLPs must file their Annual Returns and Financial Statements with the MCA, regardless of their business activity or changes in management. Even if an LLP does not engage in any business activity, it is still required to submit a NIL return through LLP Form 11 to comply with the law.
Importance of Annual Return Filing:
Filing the annual return for LLPs is crucial for the following reasons:
Compliance: Ensures adherence to legal regulations.
Transparency: Provides stakeholders with accurate business information.
Accountability: Holds the LLP accountable for its financial and management details.
Trust Building: Enhances investor and client confidence.
Avoiding Penalties: Helps avoid legal consequences and penalties.
Business Continuity: Prevents disruptions by maintaining organized records.
To file LLP Form 11, you will need to gather the following details and documents:
- LLP Identification Number (LLPIN)
- LLP Name and Registered Office Address
- Business Classification (e.g., Business, Profession, Service, Occupation)
- Details of Partners & Designated Partners (including their contributions)
- Principal Business Activities of the LLP
- Details of Offenses or Penalties imposed, if applicable
- LLP & Companies in which Partners or Designated Partners hold positions
Ensure that the total contribution mentioned in Form 11 matches the information in LLP Form 8.
The Designated Partner (DP) can upload the e-Forms on the LLP portal after registering as a portal user. Here’s the process:
- Download and fill in the details of the form based on March 31 of the financial year.
- Pre-fill the form using the LLPIN, which will auto-fill details such as name, office address, and more.
- Select the business classification, which will display the principal business activities.
- Enter the total contribution received by all partners, matching the amount stated in LLP Form 8.
- Provide details of the designated partners and partners.
- Attach any necessary documents, including penalties or compounded offenses.
- Digitally sign the form with the Digital Signatures of the designated partners.
- If required, have the form certified by a Company Secretary in whole-time practice if the total partner contributions exceed ₹50 lakhs or turnover exceeds ₹5 crores.
Once completed, submit the form on the portal. A Service Request Number (SRN) will be generated for tracking.
Due Date for LLP Annual Return Form 11:
The due date for filing LLP Form 11 is May 31st every year, based on the financial year that ends on March 31st. It must be submitted within 60 days of the financial year’s end.
Late Filing Penalty for LLP Form 11:
If Form 11 is not filed by the due date (May 31st), a penalty of ₹100 per day will be charged for each day of delay until the form is filed. It is important to note that there is no cap on the penalty amount, meaning that the fine will continue to increase with every passing day.
Forms for LLP Annual Filing:
Every LLP needs to file two key forms with the Registrar of Companies:
- Form LLP 11: This is the Annual Return that must be filed within 60 days of the end of the financial year.
- Form LLP 8: A Statement of Account & Solvency, which must be filed within 30 days from the end of the first six months of the financial year.
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Sl. No.
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Document
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e-Form
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1.
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Statement of Account & Solvency
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Form 8
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2.
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Annual Return
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Form 11
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In addition to the above, LLPs must ensure that their Income Tax Return, Profit & Loss Account, and Balance Sheet are filed annually, even if no business activities have been conducted.
Pre-Filing Requirements for LLP Form 11:
Before filing Form 11, make sure to complete the following:
- LLPIN: The LLPIN must be used to pre-fill essential details in the form.
- Contribution Declaration: Provide the declaration regarding partner contributions.
- eForm 4 (if applicable): Ensure any necessary eForm 4 filings related to partner or designated partner appointments are processed and fees paid.
- Digital Signature Certificate (DSC): The DSC of the Designated Partner is required to sign the form.
Certification and Signing:
If the contribution obligation exceeds ₹50 lakhs or the turnover exceeds ₹5 crores, the form must be certified by a Company Secretary in whole-time practice. If the amounts are lower, the form can be signed by the Designated Partner.
Easily File Your LLP Annual Return With FilingIn:
Filing your LLP Annual Return is easy and stress-free with FilingIn. Our expert team ensures that your filing process is smooth, accurate, and timely.
- Expert Assistance: Our professionals ensure that your filing is accurate and compliant.
- Simplified Process: We make the filing process user-friendly and efficient.
- Timely Filing: With FilingIn, your Form 11 will be submitted on time, avoiding penalties.
- Document Verification: We verify all details to ensure no errors or omissions.
- Comprehensive Support: From document preparation to submission on the MCA portal, we offer full support.
- Compliance Monitoring: We help you track all other compliance requirements throughout the year.
By choosing FilingIn, you get professional, reliable, and timely assistance for your LLP Form 11 filing needs.
Frequently Asked Questions in India
What is LLP Form 11?
LLP Form 11 is an annual return that every Limited Liability Partnership (LLP) must file with the Ministry of Corporate Affairs (MCA). It contains details about the LLP’s partners and their share of contribution during the financial year.
Who is required to file LLP Form 11?
All LLPs, whether active or inactive, are required to file Form 11 every year, unless they are specifically exempted.
When is LLP Form 11 due for filing?
LLP Form 11 must be filed within 60 days from the end of the financial year, i.e., by May 30th each year.
What details are required to fill LLP Form 11?
You need to provide details like:
- Name and registration number of the LLP
- Date of incorporation
- Details of partners, including their name, address, and contribution
- Number of partners and designated partners
- Changes in the partner structure during the financial year, if any
What happens if LLP Form 11 is not filed on time?
Failure to file on time leads to penalties. A late fee of ₹100 per day (subject to a maximum of ₹1,00,000) will be levied for delayed filing.
Can LLP Form 11 be filed before the due date?
Yes, you can file LLP Form 11 before the due date, provided the required details for the entire financial year are available.
What is the penalty for late filing of LLP Form 11?
The penalty for late filing is ₹100 per day of delay, up to a maximum of ₹1,00,000.
Is there a requirement for a digital signature to file LLP Form 11?
Yes, LLP Form 11 must be digitally signed by a designated partner of the LLP. The signature must be valid.
Can LLP Form 11 be revised if filed incorrectly?
Yes, if the form is filed incorrectly, it can be revised, and a fresh form can be submitted, provided it is within the time limit.
What documents are required for filing LLP Form 11?
The primary document required is the LLP Agreement, detailing the capital contribution of each partner. No additional documents are typically required for filing Form 11, but correct partner and contribution details are necessary.
