| Compliance Requirement | Due Date/Periodicity | Penalty for Non-Compliance |
|---|---|---|
| Statement of Accounts and Solvency in LLP Form 8 | Every LLP shall file Form-8 within 30 days after completion of six months from end of financial year. | Late fee of Rs.100 per day of delay |
| Annual return in LLP Form 11 | Ø Form 11 is to be filed with the Registrar within 60 days from the end of financial year | Ø Late fee of Rs.100 per day of delay Ø Designated partners shall be liable for a fine which shall be not less Rs.25000 but which may extend upto Rs.500000 |
| Income Tax Return | Ø due date for filing Income Tax Returns for LLPs that does not require Tax Audit is 31st July 2023. For LLPs requiring Tax Audit, the due date for filing Income Tax Returns for FY 2022-23 is 30th September 2023. | Ø Interest will be payable in case income tax liability not paid along with late fee of Rs.10000 |
| DIR 3 for Designated Partners KYC | Ø Each designated partner for an LLP is required to file form DIR 3 KYC on for before 30th September of each Financial year. | DIN will get deactivated unless it is activated after paying a late fee of Rs.5000 |
| Preparation of Books of Accounts and Statutory Audit | Ø LLP whose annual turnover exceeds Rs. 40 lakhs or whose contribution exceeds Rs. 25 lakhs are required to get their accounts audited by or before 30th September | Ø LLP shall be leviable with a fine of minimum Rs.25000 which may extend to Rs.500000. Ø Designated partner can be leviable with a fine of minimum Rs.10000 which may extend to Rs.100000. |
| Compliance Requirement | Due Date/Periodicity | Penalty for Non-Compliance |
|---|---|---|
| Changes in Designated Partners | Ø Form-4 within 30 days of such change | The LLP and every designated partner of the LLP shall be punishable with fine which shall not be less than Rs 2000 & may extend to Rs 25,000. |
| Creation, modification and satisfaction of charge on secured borrowings | Ø Form-8 to be filed for creation or modification of charge within 30 days from end of 6 months of the financial year i.e. 30th October | Late fee of Rs.100 per day of delay |
| Changes in Registered office | Ø Form -15 to be filed within 30 days of change | The LLP and its every partner shall be punishable with fine which shall not be less than Rs. 10,000 & may extend to Rs. 1,00,000 |
| Change of Name of the LLP | Ø Form-5 to be filed within 30 days of change | Person guilty of offence shall be punishable with fine which may extend to Rs 5,00,000 but which shall not be less than Rs 5000 and with a further fine which may extend to Rs 50 for everyday after the first day after which the default continues |
| Change in LLP Agreement | Ø Form-3 to be filed within 30 days of such change | 12 Person guilty of offence shall be punishable with fine which may extend to Rs 5,00,000 but which shall not be less than Rs 5000 and with a further fine which may extend to Rs.50 for everyday after the first day after which the default continues |
| Consent and Particulars of Partner/Designated Partner | Ø Form-4 within 30 days of appointment of designated partner | The LLP and its every partner shall be punishable with fine which shall not be less than Rs. 10,000 & may extend to Rs. 1,00,000 |
