Annual Compliances For Pvt Ltd

Need Of LLP

When We Invest Our Money We Always Think That It Gives More Benefits With Less Risk In The Same Way When We Plan To Start Our Business We Always Chooses That Medium Which Gives More Benefits In Less Investment And Compliances. An LLP Is One Of The Medium It Gives The Benefits Of Two Entities At One Time I.E. Company As Well As Partnership. As A Company It Gives The Corporate Entity To The Business And As A Partnership It Imposes Less Compliance.

Structure Of LLP

Minimum Two Individual Required To Form A Limited Liability Partnership In Which One Must Be A Resident Of India, They Are Known As Designated Partner And Holding A DPIN (Designated Partner Identification Number) And There Is No Limit On The Maximum Numbers Of Partners. Under LLP, One Partner Is Not Responsible For The Misconduct Of Another Partner And Their Liability Is Limited Up To The Amount Contributed In LLP And Written As Per LLP Agreement. Every Limited Liability Partnership Shall Use The Word LLP At The End Of Its Name.

Annual Compliances For LLP Process

Eligibility Criteria For Annual Compliance For LLP

If You’re An LLP, Then You Must File The Annual Compliance You’re Required For It. You Have To Fill The Required Annual Compliances Of Your Limited Liability Partnership As Per The Schedule That The MCA Has Decided Upon In Its Regulations.

Documents Required For Filing Annual Compliance For LLP

The Documents Required For The Annual Compliance Are As Follows:

1. The Pan Card Of The Designated Partners Of The LLP.
2. The Identity, Proof Of The Designated Partners Of The LLP
3. LLP Agreement
4. Required Financial Statements.
5. Minutes Of Meetings.

Process For Filing Annual Compliances For LLP

To Be Eligible For Trust Registration, The Objective Of Your Trust Should Match The Aforementioned Points.

Following Is The List Of Compliances That Your LLP Has To File As Per The MCA Regulations.

Compliance Of LLP

The First Thought Which Come In, Mind When We Hear The Word Compliance Is Burden, But In Case Of LLP It Is Not. The Main Feature Why LLP Attract Individual Is Its Less Compliances As Compare To Any Kind Of Companies. The Whole Compliances Are Divided Into Two Part-

Statutory Compliances
Annual Compliances

Statutory Compliances

These Are Those Compliances Which Impose An Entity By Law And Regulations From Which It Binds Such As;

(A) To Conduct Meetings:

First General Meeting- Within 30 Days From The Date Of Its Incorporation.
Executive Committee Meeting- 2 In One Financial Year

(B) Maintaining Of Minute Book

(D) Audit Of Accounts – It Is Mandatory If Turnover Exceeds 40 Lakhs Or Contribution Of The LLP Is 25,00,000.