Important Statutory Due dates for LLP Annual Filing for FY 2022-2023

[Ishita Ramani]

In India, it is crucial to comply with the necessary regulations for your business structure if it is registered. Limited Liability Partnership (LLP) is a type of business structure that requires a minimum of two members and has no limit on the maximum number of members. Compared to a Private Limited Company, the compliance requirements for an LLP are less, but it is still vital to keep track of all the significant statutory due dates for LLP annual filing. These include ROC filing, income tax filing, and GST filing. To ensure that all necessary compliances are met in a given financial year, an LLP must be well-prepared and keep track of important dates. Therefore, we have prepared a calendar containing all the essential statutory due dates for LLP annual filing for the financial year 2022-23 (AY 2023-24).

What is LLP Annual Filing?

LLP Annual Filing is a crucial process that every Limited Liability Partnership (LLP) must undertake. It involves the preparation and submission of two ROC forms to the Registrar of Companies each year.

The first form, Form LLP 11, is an Annual Return that must be filed within 60 days from the end of the financial year. The second form, Form LLP 8, is a Statement of Account & Solvency that must be filed within 30 days from the end of six months of the financial year.

LLPs must comply with statutory requirements such as Annual Return, Income Tax Return, Profit and Loss Account, and Balance Sheet, even if they do not conduct any business activities. Similar to companies, LLPs must maintain their financial year from 1st April to 31st March.

LLP Form 11 due date for FY 2022-23 (LLP Annual Return Filing)- 30.05.2023

• LLPs registered in India must file an Annual Return with the Registrar of Companies every year.
• The Annual Return needs to be filed in LLP Form 11 within 60 days from the closure of the financial year.
• The Due Date for LLP Annual Return Filing in LLP Form 11 for the FY 2022-23 is 30th May 2023.
• LLPs must submit their Annual Returns and Financial Statements with the MCA, even if they do not have any business.
• LLP Form 11 is a summary of all the changes made in the Management of an LLP during a financial year.
• A NIL return must be filed even if there are no changes or no business conducted by an LLP as it is a mandatory requirement of the Limited Liability Partnership Act.

LLP form 8 Due date for FY 2022-23- 30.10.2023

• In addition to LLP Form 11, LLPs must file LLP Form 8 with ROC every year.
• LLP Form 8 is a Statement of Account and Solvency.
• The Due Date for filing LLP Form 8 falls within 30 days from the end of six months of the financial year’s closure.
• The Due Date for filing LLP Form 8 for FY 2022-23 is 30th October 2023.
• LLP Form 8 includes a declaration by designated partners on the solvency state of the LLP.
• LLP Form 8 also contains information about the Statement of Assets and Liabilities and Statement of Income and Expenditure of the LLP.

Due date for IT Returns for LLP for FY 2022-23

• Income Tax Return Filing is mandatory for LLPs as well as individuals and businesses.
• LLPs must file Income Tax Returns before the due date.
• For FY 2022-23, the due date for filing Income Tax Returns for LLPs that does not require Tax Audit is 31st July 2023.
• For LLPs requiring Tax Audit, the due date for filing Income Tax Returns for FY 2022-23 is 30th September 2023.
• LLPs must file Nil Income Tax Returns even if they did not conduct any business during the financial year.

Late fees for form LLP 8 and LLP 11 filing

• If an LLP fails to file its annual filing forms within the prescribed time, it will be liable to pay a penalty of Rs. 100 per day per form.

• The penalty will be applicable from the due date of filing the return till the actual return is filed.

The Designated Partners of an LLP are responsible for maintaining proper Books of Accounts and filing an Annual Return with the MCA each financial year. To avoid penalties, it is advisable for LLPs to file their LLP Form 8 and LLP Form 11 before the due dates.