As per the provision of Income Tax Act, Limited Liability Partnership registered in India are required file income tax return each year in addition to MCA annual return, LLP must also file income tax return irrespective of income, profit or loss.
LLPs in India must file its Annual Return within 60 days from the end of close of financial year and Statement of Account & Solvency within 30 days from end of 30th September of close of financial year. Therefore, LLP annual return is due on May 30th and the Statement of Account & Solvency is due on October 30th of each financial year.
1.Due date of income tax return:
Income tax return filing due date as per section 139 of Income tax act is 31st July of assessment year if LLP is not required to accounts get audited u/s 44AB. If LLP is required to get the accounts audited u/s 44AB, the due date of ITR shall be 30th September of the Assessment Year. In this case Partner of LLP get benefited for filing of ITR as due date applicable on the individual who the partner of LLP which accounts get audited is also 30th September of the Assessment Year.
2.Due date of Form-8:
Limited Liability Partnership registered in India are required file Statement of Accounts & Solvency in Form 8 every year within 30 days from end of 30th September of close of financial year.
3.Due date of Form-11:
Limited Liability Partnership registered in India are required file Annual Returnin Form 11 every year and must include the details of designated partners and partner contribution. Therefore, LLP annual return is due on May 30th.
Basic Features to Read before starting private limited company
Private company is required to add the word “Private limited” or “Pvt. Ltd.” to end of its name. Private company should have at least two member and two directors. Private company have right to issue debentures to any number of persons.
Features of Public Limited Company
MCA provides the facility for incorporation of public limited company. For incorporation, firstly apply for name through RUN (Reserve Unique Name) on MCA portal. After availability of name from ROC we should file incorporation form i.e. Spice 32, INC 33(for eMOA), INC 34(for eAOA), .