Please share the roc and income tax compliance for Ll

Analysis of the Query

The user on the forum (Manish Gaur) is asking for a comprehensive checklist of annual compliances for a Limited Liability Partnership (LLP) under both MCA (Ministry of Corporate Affairs) / ROC (Registrar of Companies) and Income Tax.

To provide a high-value response on CAclubindia, the reply needs to lay down the standard annual filing forms, due dates, and specific tax requirements clearly.

Draft Forum Reply

Subject/Reply: Re: Please share the roc and income tax compliance for llp

Hi Manish,

Here is the structured annual compliance checklist for a Limited Liability Partnership (LLP) covering both MCA/ROC and Income Tax requirements.

1. MCA / ROC Annual Compliances

• LLP Form 11 (Annual Return):

  • Purpose: Contains details of management, partners, and contributions.

  • Due Date: Within 60 days of the closure of the financial year (May 30 every year).

• LLP Form 8 (Statement of Account & Solvency):

  • Purpose: Declaration of solvency, asset/liability statement, and income/expenditure statement.

  • Due Date: Within 30 days from the end of 6 months of the financial year (October 30 every year).

• DIR-3 KYC (for Directors/Designated Partners holding DIN):

  • Purpose: Web-based or form-based KYC verification for all Designated Partners.

  • Due Date: On or before September 30 every year.

2. Income Tax Compliances

• Income Tax Return (ITR-5):

  • Non-Audit Cases: Due date is July 31 of the assessment year.

  • Audit Cases: Due date is October 31 of the assessment year.

• Tax Audit (Under Section 44AB):

  • Applicability: Required if the turnover crosses ₹1 Crore (or up to ₹10 Crore if cash transactions are less than 5%). Note: Under LLP rules, an statutory audit is also triggered under MCA if turnover exceeds ₹40 Lakhs or contribution exceeds ₹25 Lakhs.

  • Due Date: September 30 of the assessment year.

3. Other Regular/Need-based Compliances

• TDS/TCS Filings: Quarterly returns (Form 26Q, 27Q, etc.) if applicable.

• GST Returns: Monthly/Quarterly returns (GSTR-1, GSTR-3B) and Annual Return (GSTR-9/9C) if registered under GST.

• Professional Tax (PT): Registration and monthly/annual payments depending on the state of operation.

Important Note on Penalties: > While late fees for LLP Form 11 and Form 8 have been rationalized to a slab-based structure (instead of the fixed ₹100 per day penalty of the past), it is highly recommended to file well within the timelines to maintain active, compliant status on the MCA portal.

Hope this comprehensive checklist helps!