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AMC Compliance @ Rs 9600/-

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Limited Liability Partnership

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What all is included in AMC compliance for Limited Liability Partnership?

AMC compliance includes all the compliance related to MCA viz

Service Duration
Declaration for Commencement of Business One Time (within180 days of Incorporation)
2 ADT-1 for First CA Appointment One Time (within 45 days of Incorporation)
DIN KYC of all the Directors (Upto 4 Directors) Yearly (by 30th April every year)
Return on payments due to Micro & Small Enterprises beyond 45 days Half yearly (In the month of April and October)
DPT-3 for Return of Deposits Yearly (by 30th June every year)
Disclosure of interest of Director (MBP-1) Yearly (by 30th April every year)
Issue of Share Certificates Event Based Compliance
Appointment & Resignation of Directors Event Based Compliance
Transfer of Shares Event Based Compliance
Appointment of MD/CEO Event Based Compliance
Change in the Registered Office Event Based Compliance
Change in the Authorized Capital/ Paid-up Capital Event Based Compliance
Issue/Allotment of Shares Event Based Compliance
Change of name and Main objects of the Company Event Based Compliance
Charge Management, upon taking secured loan from Event Based Compliance
Financial Institutions Event Based Compliance
Providing draft Resolutions for various events and meetings Event Based Compliance
Changes in DIN Event Based Compliance

Mandatory Compliances for an LLP (Limited Liability Partnership)

All LLPs registered with the Ministry of Corporate Affairs need to file Annual Returns and Statement of Accounts for every Financial Year. It is mandatory for a LLP to file a return irrespective of whether it has done

  • Filing of Annual Return
  • Filing of Statement of the Accounts or Financial Statements
  • Filing of Income Tax Returns

Filing LLP Annual Return

Annual Return or Form 11 is a summary of an LLP’s Partners. It is also an indication of whether there is any change in the management. Every LLP is required to file Annual Return in Form 11 to the Registrar within 60 days from the closure of a financial year. That is, the Annual Return has to be filed on or before 30th May every year.

Filing Annual Accounts or Statement of Accounts or P&L and Balance Sheet

All LLPs are required to maintain their Books of Accounts in Double Entry System. They also need to prepare a Statement of Solvency (Accounts) every year ending on 31st March. For this purpose, LLP Form 8 should be filed with the Registrar of Companies on or before 30th October every year.

It should be noted that LLPs whose annual turnover exceeds Rs. 40 lakh or whose contribution exceeds Rs. 25 lakh are required to get their accounts audited by a qualified Chartered Accountant mandatorily.

*An Audit of accounts is mandatory under the Income Tax Act when the annual turnover of LLP is more than one hundred lakh rupees.

Forms to be filed Last date for filing
Annual Return (Form 11) On or before 30th May
Accounts (Form 8) On or before 30th October
INCOME TAX RETURN Last date for filing
In case Audit is not required On or before 31st July
In Case Audit is required On or before 30th September

Running a business, be it in the form of a One Person company, LLP or as a Private Limited Company, is no easy task. It is an investment of time, money, and effort and also requires the know how of many formalities, regulatory or financial. Filing of all the forms and returns on time is very essential. Heavy penalties are imposed if the Forms are are not filed on time with the Registrar.