(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:
- What is the Form 11 about?
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.
- What is the due date of filing the Annual Return form?
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 .
- What is the normal fees for filing Annual Return?
For filing, registering or recording any document, form, statement, notice, Statement of Accounts and Solvency, annual returns, etc. by this Act or by this Rule required or authorized to be filed, registered or recorded in respect of Limited Liability Partnership:
(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/-
- What is the penalty for non-filing of Form 11?
There is penalty of Rs. 100 per day till the date the form is filed.
- What is the liability on the Designated partners for non-filing of the form?
If the LLP fails to file Annual Return within 30the May (prescribed time) , The Limited Liability Partnership shall be shall be punishable with fine which shall not be less than Rs 25000 but which may extend to Rs. 5,00,000 The designated partner of such limited liability partnership shall be punishable with fine which shall not be less than Rs. 10,000 but which may extend to Rs. 1,00,000.
- Is Annual Filing compulsory even though LLP has not done any transaction since incorporation?
Even though the LLP is not functional since incorporation, the LLP shall be required to file e-form 11 by its due date. Filing Form 11 is a compulsory annual compliance.
- Can the LLP be closed / wound up without filing Annual return?
The LLP cannot be closed/ wound up unless all pending annual filing is complete.
- Is there any provision of re-submission of the Form 11?
Extract from INSTRUCTIONS FOR FILING EFORM 11: This eForm shall be taken on record through electronic mode without any processing at the Registrar. Ensure that all particulars in the eForm are correct as per the annual return. There is no provision for resubmission of this eForm. No attachment is allowed to be submitted through the addendum eForm in respect of this eForm.
- To file form 11 how many directors’ digital signature is required? Is certification of Company secretary compulsory in all cases?
Extract from INSTRUCTIONS FOR FILING EFORM 11: In case total obligation of contribution of partners of the LLP exceeds Rs. 50 lakhs or turnover of LLP exceeds Rs. 5 crores, then the e-Form needs to be certified by a Company Secretary in whole time practice. Enter the certificate of practice number and select whether he/ she is associate or fellow.
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.
- In what cases filing of Form 11 is not allowed?
Extract from INSTRUCTIONS FOR FILING EFORM 11: Filing of this form shall not be allowed in case there is any eForm 4 (Notice of appointment, cessation and change in designation of a designated partner or partner) pending for payment of fee or any eForm 4 is under processing in respect of the LLP.
Last Date – 30th May 2015.
Penalty Rs.100 per day