Section 35 of LLP Act, 2008 reads as:
(1) Every limited liability partnership shall file an annual return duly authenticated with the Registrar within sixty days of closure of its financial year in such form and manner and accompanied by such fee as may be prescribed.
(2) Any limited liability partnership which fails to comply with the provisions of this section shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees.
(3) If the limited liability partnership contravenes the provisions of this section, the designated partner of such limited liability partnership shall be punishable with fine which shall not be less than ten thousand rupees but which may extend to one lakh rupees.
We wil provide a FAQ Series so its can help to understanding concept for the LLP Annual Filing 2016.
Frequently Asked Questions:
Form 11 is Annual return containing number of partners, total contribution received by all the partners, details of partners, details of body corporate as partners, summary of partners.
Every LLP is required to file Annual return in Form 11 to the Registrar within 60 days from the closure of Financial Year . The Annual return has to be filed on or before 30th May Every Year .
(a)LLP whose contribution does not exceed Rs. 1 lakhRs. 50/-(b)LLP whose contribution exceeds Rs. 1 lakh but does not exceed Rs. 5 lakhsRs.100/-( c)LLP whose contribution exceeds Rs. 5 lakhs but does not exceed Rs. 10 lakhsRs.150/-(d)LLP whose contribution exceeds Rs. 10 lakhRs.200/-
In case total obligation of contribution of partners of the LLP does not exceed Rs. 50 lakhs and turnover of LLP does not exceed Rs. 5 crores, then the eForm needs to be certified by the designated partner of the LLP. Enter the DPIN of the DP.
LLP Annual Filing due date is coming for the year 2015. so every startup LLP and entrepreneurs to remember this date else its create a huge liability on the partners and also arise penalty per day. below is details about the "LLP Annual Forms, LLP Annual Fees & the process".
Last Date - 30th May 2015.
Penalty Rs.100 per day