Filing of the annual return of LLP Needs Expert Intervention

1. Filing of the annual return of LLP Needs Expert Intervention According to the Company Act 2013 and LLP Act 2008 annual return is mandatory for all registered LLPs, public limited companies, and private limited companies. Of course, LLPs are the newest addition to this format of business in India. LLP stands for “Limited Liability Partnership”. Like any other legal business entity that is registered with RoC, an annual return is also mandatory for LLPs. If you have an LLP, you should take expert assistance for filling of annual return of LLP. An annual return is a legal and systematic document that contains the details of the financial condition and the board of directors of the LLP. That means along with other necessary information, it should also contain the LLP’s share capital, name of partners, any changes in the partnerships, etc. What is LLP in India? LLP was introduced in India in 2008. Today, it is a much-preferred way of forming a business under the Company Act, 2013, and the Limited Liability Partnership Act, 2008. It incorporates the benefits of a partnership firm as well as a company.  To form an LLP minimum of two partners is required but there is no upper limit of partners. It has a legal entity just like a company whereas in partnership the concept of a separate legal entity is absent. It has lesser restrictions and regulations than a registered company. There is no lower limit of capital contribution for partners. The compliance matters are also restricted that mostly take the midway between a partnership firm and a limited company.    

2. Annual returns for LLPs in India If you are running a business, you know the filling of annual return of LLP or companies is a tricky job. You have to take care of so many things and prepare the documents as per the ROC format. These days, returns are mostly accepted online which is known as the e-filling of Annual Returns. To save time and keep the focus on the business, it is feasible to hire a consultant like UComply to complete this process according to the procedure. These consultants are experts in this job. So, they can make the process easier and faster for you. Important points in filling out the annual return  The annual return is mandatory every year and you have to submit it to the regional ROC.  LLP Form 11 and Form 8 are required to fill and submit the annual return which is available with ROC.  Even if there is no business activity, an annual return is mandatory for the LLPs.  You have to submit the annual return according to Form 11 by the end of November whereas Form 8 is required by the end of October. The process starts with finding the forms and filling them out as instructed. Before that, you have to be prepared with all the necessary documents. The process is lengthy and takes time. UComply can make the process smooth sailing for your LLP.