LLP Compliance with ND Salva & Associates
Limited Liability Partnerships (LLPs) enjoy flexibility and limited liability, but they must comply with annual
obligations under the LLP Act, 2008 and Income Tax Act, 1961. Failure to comply can lead to penalties, legal issues,
and loss of credibility.
At ND Salva & Associates, we ensure your LLP meets all statutory filing requirements—accurately,
promptly, and professionally.
LLP Annual Compliance Checklist
- Form 11 – Annual Return: Due 30th May
- Form 8 – Statement of Accounts & Solvency: Due 30th October
- Income Tax Return (ITR-5): 31st July (Non-Audit) / 30th September (Audit)
- Tax Audit (if applicable): Due 30th September
- Form 3CEB (for international/domestic transactions): Due 30th November
Form 11 – LLP Annual Return
Must be filed by every LLP regardless of turnover, detailing partner and contribution information.
Due Date: 30th May
Penalty: ?100 per day with no upper limit
Note: LLP cannot be closed unless all annual returns are filed.
Form 8 – Statement of Accounts & Solvency
Form 8 contains two parts:
- Part A: Solvency Statement
- Part B: Statement of Accounts
Due Date: 30th October
Signatures: 2 Designated Partners (DSC)
Certification: CA/CS/CMA
Penalty: ?100 per day
Income Tax Return (ITR-5)
LLPs must file ITR-5 annually, whether or not income is earned.
Due Dates:
- 31st July – Non-Audit LLPs
- 30th September – Audit Applicable
Tax Audit Requirement
- Turnover exceeds ?1 crore
- Contribution exceeds ?25 lakh
- Enhanced limit up to ?5 crore if cash transactions = 5%
Form 3CEB – Transfer Pricing
Mandatory if LLP enters international or specified domestic transactions.
Due Date: 30th November
Certification: CA specializing in transfer pricing
Bookkeeping & Statutory Records
- Maintenance of books of accounts
- Partner contribution records
- Financial documents, invoices, contracts
- Supports tax filings and audit readiness
Penalties for Non-Compliance
- ?100/day for late filing of Form 11 or Form 8
- Income tax penalties for late ITR
- Fines for tax audit non-compliance
- LLP cannot be closed if filings are pending
Benefits of Timely LLP Compliance
Financial Credibility
Better access to loans and investors.
Clear Financial Standing
Ensures transparent financial reporting.
Legal Protection
Prevents penalties and protects LLP status.
Smoother Conversion
Helps convert to Pvt Ltd or close LLP easily.
Risk Reduction
Minimises compliance-related litigation.
Better Governance
Keeps partners aligned with legal duties.
Why Choose ND Salva & Associates?
- Compliance calendar tracking
- Preparation & filing of Form 11 and Form 8
- Tax return filing and audit assistance
- Transfer pricing compliance (Form 3CEB)
- Professional certification from CA/CS/CMA
- Advisory on LLP restructuring or closure