Key Compliance Requirements for LLPs in India

LLP Agreement
The LLP Agreement is a critical document that outlines the rights, duties, and obligations of the partners. It must be filed with the Registrar of Companies (RoC) within 30 days of incorporation using Form 3. Ensure the agreement is stamped according to the state’s Stamp Act.

Annual Return Filing
LLPs must file an Annual Return (Form 11) with the RoC within 60 days from the end of the financial year (i.e., by 30th May each year). This return provides details about the partners and any changes in the management of the LLP.

Statement of Accounts and Solvency
LLPs are required to prepare and file a Statement of Accounts and Solvency (Form 8) annually. This document includes the LLP’s financial statements and a declaration of its solvency. It must be filed within 30 days from the end of six months of the financial year (i.e., by 30th October each year).

Income Tax Returns
LLPs must file Income Tax Returns annually with the Income Tax Department. The due date is 31st July for LLPs not requiring audit and 30th September for LLPs requiring audit under the Income Tax Act or LLP Act.

Tax Audit
LLPs with a turnover exceeding INR 1 crore in a financial year must undergo a tax audit. The audit report, in Form 3CA/3CB and 3CD, must be filed with the Income Tax Department by 30th September.