Hi,
What are the exact compliance requirements of an LLP? An annual audit of financial statements is a must. What else is required?
How is compliance different from Pvt Ltd Company?
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Exact compliance requirements of an llp
Replies (2)
no need to require financial audit if ur llp not cross limit of turnover as provided income tax act and for more information u see llp compliances
You need to file Form-11 by 30 May of every year & Form-8 by 30 Sept of every year otherwise you'll have to pay ₹100 per day till the details continues.
Further, there is no audit requirement for LLP if Turnover is below ₹40Lakhs or Contribution/Capital is below ₹25Lakh
There are number of differences in compliance such as there is no need to maintain various statutory registers nor required to hold compulsory board meeting, no AGM required, no resolution filing with ROC, no approval for taking loan or disposing assets etc
Further, there is no audit requirement for LLP if Turnover is below ₹40Lakhs or Contribution/Capital is below ₹25Lakh
There are number of differences in compliance such as there is no need to maintain various statutory registers nor required to hold compulsory board meeting, no AGM required, no resolution filing with ROC, no approval for taking loan or disposing assets etc
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