ROC Annual Filing

      Introduction     LLP stands for Limited Liability Partnership. It is an alternative corporate structure where the members benefit from the feature of limited liability (which means that the members are liable for the shares they own) and the feature of the flexibility of partnership (which means that the members are free to decide the duties and responsibility of their own through an LLP agreement). When you register your business as LLP there is certain compulsory annual compliance for LLP that is required to be filed. In this blog, we will learn about the various LLP annual compliance and the benefit of filing annual compliance for LLP.       What is an LLP annual compliance?     Every Limited Liability Partnership must file LLP annual compliance each financial year to maintain an active status on the MCA portal. Regardless of the fact the LLP is in operation or not. LLP annual compliance is compliance which an LLP files to MCA ...

        Introduction     An LLP is a form of separate legal business entity that gives the benefits of limited liability but allows its members the flexibility of organizing their internal structure as a traditional partnership. It is governed by the Limited Liability Partnership Act, 2008. In LLP, unlike a company, the designated partner has a direct relationship between the owner and management. Every year an LLP needs to comply with LLP annual compliance .   Just like companies, LLP is also required to file an annual return and that is done via Form 11 of LLP.  In this blog, we will discuss all the Form 11- annual returns.     What is LLP Form 11?       Annual return or Form 11 is a summary of all the Designated partners like whether there are any changes in the management of LLP or not. This form is a mandatory annual compliance for LLP . Form 11 is filed with the Ministry of Corporate Affairs, even if they a...

      Introduction     Since a Limited Liability Partnership is a separate legal entity, it is the duty of the designated partners to preserve and maintain proper books of accounts and submit an annual return to the Ministry of Corporate Affairs (MCA). There is 3 mandatory annual compliance for an LLP that is Form 8, Form 11, and ITR-4. In this blog, we will mainly focus on the process to file a statement of account and solvency i.e. Form 8. This form is required to file within 30 days of the end of the six-month period after the end of the financial year.     What is an LLP?     The Limited Liability Partnership (LLP) is an alternative corporate business structure that provides the partners with the flexibility to draft the clauses of an LLP agreement and limited liability to partners. One of the goals of forming an LLP is to have less legal compliance.     What is Form 8 of an LLP?     The form is known as Statement of ...