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Set up a sole LLP Compliance

  • File your business tax returns and maintain compliance seamlessly through IndiaFilings.com. Get a Dedicated Accountant and LEDGERS compliance platform for your business
proprietorship

Register LLP Compliance Firm Online through Compliance Gurukul

You can easily complete LLP Compliance firm registration online through Compliance Gurukul. For a sole LLP Compliance registration, only the PAN & Aadhaar card of the business owner is required. We can help you obtain the following registrations in less than 15 days:

  • LLP Compliance
  • Zero-Balance Business Current Account with Compliance Gurukul Software

Once, you have registered for the LLP Compliance firm registration online on Compliance Gurukul, please follow the steps below and upload the following documents by logging into Compliance Gurukul Software.

  • Step 1: Login to Compliance Gurukul Software using the email address for payment.
  • Step 2: Go to Services Tab & Select LLP Compliance Engagement
  • Step 3: Upload your PAN & Aadhar Card Copy
  • Step 4: An Compliance Gurukul Registration Expert will file the registration application with GST Department and Bank for Current Account.
  • Step 5: Access to Compliance Gurukul Software is for GST invoicing, GST filing and other services.

Annual Compliance of Limited Liability Partnership (LLP)

For a Limited Liability Partnership (LLP), regular filing of returns is essential to uphold LLP compliance standards and steer clear of substantial penalties for non-compliance. LLPs benefit from a relatively lighter annual compliance burden compared to private limited companies. Nevertheless, the potential fines for non-compliance can be significant. While a Private Limited company might face penalties of INR 1 lakh for non-compliance, LLPs could incur penalties of up to INR 5 lakh. At IndiaFilings, we understand the critical importance of adhering to these annual compliances of LLP requirements, and our services are tailored to assist LLPs in meeting their obligations efficiently and effectively.

Limited Liability Partnerships (LLPs) Compliance Requirements

Limited Liability Partnerships (LLPs) are recognized as separate legal entities, and therefore, they are bound by specific compliance obligations. The responsibility for ensuring compliance rests with the Designated Partners of the LLP. The key LLP compliance requirements for LLPs include the following:

  • Maintenance of Proper Book of Accounts
  • Filing of Annual Return
  • Filing of Statement of Accounts
  • Filing of Income Tax Return (ITR - 5)
  • Filing of Tax Audit (If Applicable)
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Timelines

A sole LLP Compliance can normally be done in India through Compliance Gurukul in max 2 weeks. However, the timelines for registration will vary from case to case, depending on the government and bank processing timelines.

LLP Compliance FAQ's

LLP Annual Filings refer to the mandatory submissions and reports that Limited Liability Partnerships must file annually with regulatory authorities to maintain compliance.

These filings are crucial for upholding the legal status of an LLP, ensuring transparency, financial accountability, and credibility.

Non-compliance can result in penalties of up to INR 5 lakhs for LLPs, making it essential to meet annual filing obligations.

Key compliance requirements include maintaining proper books of accounts, filing annual returns (Form 11), filing statements of accounts (Form 8), and filing Income Tax Return (ITR - 5).

A tax audit is mandatory for LLPs with an annual turnover exceeding Rs. 40 lakhs or contributions surpassing Rs. 25 lakhs, subject to certain conditions.

The deadline for tax audit for applicable LLPs is September 30th, while the deadline for LLPs without tax audit is July 31st.

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