Limited Liability Partnerships (LLPs) registered under the LLP Act, are mandatorily required to file their return annually with the Registrar of LLPs.
An LLP is required to file its Annual Return with the registrar of LLP (Form 11) within 60 days from the closure of its financial year. An LLP has to close its financial year on 31st March. So, the annual return is to be filed on or before 30th May every year. However it is clarified that the time limit of 60 days shall be read as 90 days for filing Form 11 by LLPs in respect of the Financial Year ending on 31-03-2012.
Further, every LLP has to maintain books of accounts as per double entry system of accounting and prepare a Statement of Accounts and Solvency (Accounts) every year ending on 31st March. LLP has
to file such accounts to the Registrar of LLP (Form 8) within 30 days from the end of 6 months of such financial year. So, the filing of Accounts is to be filed on or before 30th October every year.
Ministry of Corporate Affairs put across a Notice for filing returns of LLP (Form-8 & 11) for the Financial Year ended 31-03-2012
1. All LLPs registered between 01-April-2011 and 30-September-2011 have to mandatorily close the financial year as on 31-03-2012 and file Form-11 by 30-May-2012 and Form-8 by 30- October-2012.
2. LLPs registered from 01-10-2011 to 31-03-2012 have option either to close financial year as on 31-03-2012 or 31-03-2013 and to file Form-8 & 11 accordingly.
3. Please note that if LLP fails to file Form-8 & 11 within time, an additional fees of Rs. 100/- is payable per day till date of filing.
Thus, LLPs incorporated in between 01.04.2011 and 30.09.2011, are in danger, if they do not had filed their return in time as mentioned above. They are liable to pay Rs. 100 per day till the date of filing of annual return. But the LLPs incorporated from 01-10-2011 to 31-03-2012 not filed their return in time as mentioned above still have an option to close financial year as on 31-03-2013 and to file Form 8 & 11 accordingly.
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