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September 15th, 2021

Consequences Of Non Filing Of Llp Agreement

LPPs in India must submit their annual performance within 60 days of the end of the fiscal year and the statement of account and solvency within 30 days of the end of six months following the end of the fiscal year. Unlike companies, LLPs must maintain their financial year from April 1 to March 31. As a result, LLP`s annual performance is due on May 30 and the statement and solvency on October 30 of each fiscal year. Once again, it is necessary to ensure that the annual return of LLP is filed in a timely manner, given that non-compliance results in a penalty of Rs. 100 per day of delay without cap. Learn more about filing the LLP annual return. In this case, the submission is not permitted if an e-Form 3 and a Form e4 are pending for the termination of a partner or partner designated to pay the fee or if an E-Form-3/4 regarding the LLP is being processed. In addition to the above consequences and penalties, the Registrar has the right to remove PLLs that do not file their annual accounts (Form 8) and annual return (Form 11) for a period of two immediate fiscal years. (a) LLPSS does not apply to the filing of other documents or forms, with the exception of Forms 3, 4, 8 and 11; and 6. This means that there is a ceiling of Rs.5000/- for additional fees and the normal fee for filing the document must be paid by such a defaulting LLP; A limited liability company that is willing to provide information relating to the initial LLP agreements or their modifications, and the number of partners exceeds the maximum number allowed in electronic form, must enter/update the details of all partners via a screen to “Enter/update” the details of the presentation of the LLP agreement available to the designated partners (as business partners) after the notification on the MCA portal. Limited liability companies are required to file their accounts and solvency within thirty (30) days from the end of six (6) months of the financial year and the annual performance within sixty (sixty) days of the end of the financial year. Unlike businesses, limited partnerships are required to maintain the fiscal year from April 1 to March 31.

Therefore, the statement of account and solvency must be completed on or before October 30 of each fiscal year and the annual performance of the LLPs is due on May 30 of each year, even if the LLP did not enter into a transaction during that fiscal year. . . .

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