LIST OF LLP COMPLIANCES FOR THE YEAR 2022-2023

 A Limited Liability Partnership (LLP) is a business structure governed by the Limited Liability Partnership Act, 2008, in India. It combines the benefits of a partnership firm and a company, providing limited liability protection to its partners.

Below is a list of compliances which a LLP and Important Statutory Due date as required to follow under laws governed in India:


1. ANNUAL RETURN- DUE DATE 30TH MAY EVERY YEAR

LLPs are required to file an Annual Return in Form 11 within 60 days from the end of the financial year. The Annual Return includes details such as the LLP's name, registered office address, partners' details, capital contribution, etc.

For FY 2022-2023 due date for Form 11 is 30.05.2023


REQUIRMENT- MANDATORY


2. FINANCIAL STATMENTS- DUE DATE 30TH OCTOBER EVERY YEAR

LLPs must prepare and file their financial statements, including the Balance Sheet, Profit and Loss Account, and Statement of Solvency. These statements should be filed with the Registrar of Companies (RoC) within 30 days from the end of Six months from the end of the financial year.


For FY 2022-2023 due date for Form 11 is 30.10.2023


REQUIRMENT- MANDATORY


3. INCOME TAX RETURN- DUE DATE 31ST JULY/31ST OCTOBER EVERY YEAR

LLPs are required to file Income tax returns and pay their Tax on Self Assessment basis every year before 31st July or 30th September as per Tax Audit Applicability


For FY 2022-2023 (AY 2023-2024) due date for ITR 5 is 31st JULY 2023 for Non Audited Case and 31st October 2023 for Audited cases.

REQUIRMENT- MANDATORY


4. TAX AUDIT- DUE DATE 30TH SEPTEMBER EVERY YEAR

LLPs with turnover above Rs. 1 crore is required to mandatory to get their Accounts Audited U/S 44AB of Income Tax Act.


For FY 2022-2023 (AY 2023-2024) due date for LLP Audit is 30th September 2023


REQUIRMENT- AS PER TURNOVER


5. DIR-KYC- DUE DATE 30TH SEPTEMBER EVERY YEAR

DIR KYC is applicable on Designated Partners (DP) of the LLP and each DP will have to re-verify their DIN every year before 30th September. The responsibility to do DIR-KYC is on Directors/Designated Partners but LLP should intimate their Designated Partners to complete the verification on time.

For FY 2022-2023 due date is 30.09.2023


REQUIRMENT- MANDATORY FOR DESIGNATED PARTNERS


6. OTHER COMPLIANCES:

There are various other compliances which are applicable on case to case basis such as:

  • GST Monthly, Quarterly and Annual Compliances
  • PF ESIC Compliances
  • Labour Law Compliances
  • Filing of Various forms with Registrar of Companies etc