ROC Compliance For
Limited Liability Partnership
Package Starting at Just Rs 5,000/- Yearly
What You Get :
What Is Limited Liability Partnership ?
A Limited Liability Partnership also referred to as LLP is governed by Limited Liability Partnership Act, 2008 and on account of easy incorporation, compliance and limited liability of the partner, all small and medium scale business entrepreneurs more frequently use the same.
Every LLP registered in India is required to comply with the compliance stated by the Ministry of Corporate Affairs(MCA) and Registrar of Companies (ROC) for its smooth functioning. Due to this, every LLP must file the below-given forms to ROC & Income Tax return on an annual basis.
- Annual Return Form 11.
- Statement of Accounts and Solvency Form 8.
- Filing of Income Tax Returns
Why Choose Us
Work Handled by Experienced Professionals
Trained experts & experienced professionals will take care of your ROC compliance that is further verified by an independent and qualified professional. So a strict concept of Maker and Checker is followed by us.
Most Competitive & Transparent Rates
The package includes all the mandatory and essential ROC compliances at the most competitive rate. To compare you can provide the list of compliance, we have stated here to any other service provider and obtain a quotation for the same.
Legal Compliance
Dashboard
We provide a Legal Compliance Dashboard that acts as your secretary for legal work and intimates you about the upcoming compliances. This dashboard will make sure that you do not miss any of the compliance and have to pay no penalties.
Results in Numbers
Details of Mandatory Requirements
- Annual Return of LLP:
- An annual return of LLP is a form that carries the details regarding all the partners and other firms or companies in which they are associated as a partner or director. Every LLP is required to file Form 11, which is an Annual Return to the ROC within 60 days of closing of the financial year. The form is required to be attested by a practicing Chartered Accountant or Company Secretary.
- Filing of Statement of Account & Solvency:
- Every LLP is required to submit its statement of accounts and solvency on or before 30th October every year to ROC. The form has all the details regarding profit and loss account, net worth, balance sheet, resolutions, auditor, etc. The statement of Solvency has to be prepared for the period ending on 31st March of every year and has to be signed by Practicing Chartered Accountant or Company Secretary. Both of these forms are required to be filed even if there is no business done by LLP during that year.
- Income Tax Return Filing:
- As per section 139 of the Income Tax Act, every LLP must file its Income Tax return irrespective of the business done or not. Those LLPs for which the book of accounts are not required to be audited has to file its return by 31st July of every year. LLP whose contribution exceeds Rs. 25 Lakh or has turnover more than Rs. 40 Lakh is required to get their accounts audited by a practicing Chartered Accountant. The due date for such LLP is 30th September of the next year.
- Audit Requirement for LLP:
- It is a mandatory requirement for LLP making a contribution of more than Rs. 25 Lakh or the turnover exceeds Rs. 40 Lakh to get their accounts audited by a practicing Chartered Accountant.
- DIR-3 Web KYC:
- Every partner of the LLP is required to verify their KYC through MCA every year. In case if the same is not done, then there shall be a penalty of INR 5000/- for every director. However, if there is no change in the necessary details of the partner then only OTP verification of the partner is required to be done.
Advantages
Separate Legal Entity
A private limited company is a separate legal entity and a juristic person established under the Companies Act, 2013. A member of a company has no personal liability to the creditors of the company for companies’ debts. Hence the distinct legal entity assures that personal interest of members is safeguarded.
Easy to get funding in the form of Loan or Investment.
Most of the companies vouch for the funds in a year or two to expand its magnitude. Since private limited company has more transparency due to mandatory reporting and audits, results in higher credibility. Due to which all the banks and venture capital are more likely to assist a private limited company.
Limited liability of Members
Being a separate legal entity in the eye of law liabilities of the members is limited to their share capital only. Hence it protects the personal assets and income of shareholders at times of any financial crisis faced by the company.
Perpetual existence of business.
Since a company is an artificial judicial person in the eye of law, its existence is not affected by removal or leaving of its shareholder and directors. Directors of the company are merely an agent of the company and do not affect the company if they leave.
Tax Benefit
Against the most of the organization that is being taxed at the rate of at least 30% in India, the Private limited company is taxed at a rate of 25% if the turnover is less than Rs 400 crores.
Tax Benefit
Against the most of the organization that is being taxed at the rate of at least 30% in India, the Private limited company is taxed at a rate of 25% if the turnover is less than Rs 400 crores.
Frequently Asked Questions
Yes, LLP must file Annual Returns and financial statements with ROC even if there is no business carried out during that year. It is mandatory under law to file a return even if it is a NIL return.
​If the filing of return is not done within a stipulated time, then there is a penalty of Rs. 100 per day until it complies. Further, one will not be able to even close or windup his LLP if annual returns are not filled.
You can get in touch with us and our team shall help you in obtaining Digital Signature for your compliance.
We can send you a copy of the form in which you can easily attach DSC and send it back to us. Further, if the client requires we are ready to sign a confidentiality clause under which we shall use your DSC only for ROC Work. Also, If your DSC is with us, then the same is kept in proper safety and a register for the same is maintained if the same is taken out of the safe.
Yes, as per Income Tax Law, every LLP must maintain its books of accounts in a double-entry system as per cash or mercantile method.
Yes, there are certain ROC compliance that is applicable in case of occurrence of special events in LLP like
- Change in register office of LLP.
- Change in partnership structure.
- Increase in capital contribution of LLP.
- Change in LLP agreement and its objects.
- Creation of charge for loan.
No, since in LLP there are only partners that are involved in the business there is no requirement to hold an AGM or Board meeting like that in the case of company.
No, the fees stated above only includes regular ROC fees that are payable at the time of filling the form. Any late filing fees or penalties due to delay by the client shall be separately charged.
No, once you have availed services form Legal Workmate, we shall prepare all your documents and get the same verified from the chartered accountant. Legal workmate shall pay all the fees of professionals to the chartered accountant.
Yes, We can help you with the appointment of the chartered accountant who will audit your books of accounts in a true and fair manner.
You can select our accounting package for a yearly accounting package and based on that, we shall prepare all your ROC forms and accounts. If you have any queries, then you can contact us.