LLP Compliance

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    Packages

    Basic

    Monthly Invoices – Nil

    MCA COMPLIANCE
    • Preparation and Filing of FORM -8 (Annual Return of LLP)
    • Preparation and Filing of FORM-11 (Statement of Books of Accounts)
    • Director KYC through Form DIR 3 KYC or Web Based KYC, as Applicable.
    INCOME TAX COMPLIANCE
    • Preparation and Filing of Income Tax Return of LLP

    • Computation of quarterly tax liability to be deposited as advance tax

    FINANCIAL PREPARATION

    Preparation of financial statements on Annual basis which includes Balance Sheet, Profit and Loss Account

    TAX DEDUCTED AT SOURCE (TDS)

    1. Computation of monthly TDS liability to be deposited to the Government.

    2. Preparation and filing of quarterly returns of TDS

    3. Verifying compliances in respect of TDS for non-salary & Salary payments

    4. Issue of Form 16A to the suppliers & Form 16 to employees

    BOOK KEEPING (INHOUSE)

    Maintaining books of accounts of the Company in the tally/quick books on the monthly basis. Assist in developing appropriate accounting systems to ensure that books and accounting records are in consistent with latest practices and procedures as applicable to Industry.

    Reporting

    Providing monthly MIS t to the management generated through accounting software including Trial Balance, Profit and loss account and Balance sheet.

    GST COMPLIANCE

    Preparation and uploading of monthly summary return (GSTR-3B & GSTR-1)

    Outward Supply – Control checks to be carried out based on data:

    • Tax liability basis tax rates

    • type of tax based on the place of supply viz. Inter-state or Intra-state or zero-rated

    • gross tax liability

    Inward supply – control checks to be carried out based on data:

    • Analysis and identification of blocked credits based on narration and nature of expense account

    • Allowability of input tax credit based on nature of turnover

    • Reversal of input tax credit as per regulations

    • Net allowable input tax credit

    • verification of non-GST and exempted inward supplies

    PROFESSIONAL TAX COMPLIANCE
    • Derive PT liability on a monthly basis on employees to the government.

    • Filing of Monthly PT Return

    Govt. Fees- Extra

    ₹7999

    Buy Now
    Advance

    Monthly Invoices – Up to 25

    MCA COMPLIANCE
    • Preparation and Filing of FORM -8 (Annual Return of LLP)
    • Preparation and Filing of FORM-11 (Statement of Books of Accounts)
    • Director KYC through Form DIR 3 KYC or Web Based KYC, as Applicable.
    INCOME TAX COMPLIANCE
    • Preparation and Filing of Income Tax Return of LLP

    • Computation of quarterly tax liability to be deposited as advance tax

    FINANCIAL PREPARATION

    Preparation of financial statements on Annual basis which includes Balance Sheet, Profit and Loss Account

    TAX DEDUCTED AT SOURCE (TDS)
    1. Computation of monthly TDS liability to be deposited to the Government.

    2. Preparation and filing of quarterly returns of TDS

    3. Verifying compliances in respect of TDS for non-salary & Salary payments

    4. Issue of Form 16A to the suppliers & Form 16 to employees

    BOOK KEEPING (INHOUSE)

    Maintaining books of accounts of the Company in the tally/quick books on the monthly basis. Assist in developing appropriate accounting systems to ensure that books and accounting records are in consistent with latest practices and procedures as applicable to Industry.

    Reporting

    Providing monthly MIS t to the management generated through accounting software including Trial Balance, Profit and loss account and Balance sheet.>

    GST COMPLIANCE

    Preparation and uploading of monthly summary return (GSTR-3B & GSTR-1)

    Outward Supply – Control checks to be carried out based on data:

    • Tax liability basis tax rates

    • type of tax based on the place of supply viz. Inter-state or Intra-state or zero-rated

    • gross tax liability

    Inward supply – control checks to be carried out based on data:

    • Analysis and identification of blocked credits based on narration and nature of expense account

    • Allowability of input tax credit based on nature of turnover

    • Reversal of input tax credit as per regulations

    • Net allowable input tax credit

    • verification of non-GST and exempted inward supplies

    PROFESSIONAL TAX COMPLIANCE
    • Derive PT liability on a monthly basis on employees to the government.

    • Filing of Monthly PT Return

    Govt. Fees- Extra

    ₹29999

    Buy Now
    Premium

    Monthly Invoices – 25 to 50

    MCA COMPLIANCE
    • Preparation and Filing of FORM -8 (Annual Return of LLP)
    • Preparation and Filing of FORM-11 (Statement of Books of Accounts)
    • Director KYC through Form DIR 3 KYC or Web Based KYC, as Applicable.
    INCOME TAX COMPLIANCE
    • Preparation and Filing of Income Tax Return of LLP

    • Computation of quarterly tax liability to be deposited as advance tax

    FINANCIAL PREPARATION

    Preparation of financial statements on Annual basis which includes Balance Sheet, Profit and Loss Account

    TAX DEDUCTED AT SOURCE (TDS)
    1. Computation of monthly TDS liability to be deposited to the Government.

    2. Preparation and filing of quarterly returns of TDS

    3. Verifying compliances in respect of TDS for non-salary & Salary payments

    4. Issue of Form 16A to the suppliers & Form 16 to employees

    BOOK KEEPING (INHOUSE)

    Maintaining books of accounts of the Company in the tally/quick books on the monthly basis. Assist in developing appropriate accounting systems to ensure that books and accounting records are in consistent with latest practices and procedures as applicable to Industry.

    Reporting

    Providing monthly MIS t to the management generated through accounting software including Trial Balance, Profit and loss account and Balance sheet.

    GST COMPLIANCE

    Preparation and uploading of monthly summary return (GSTR-3B & GSTR-1)

    Outward Supply – Control checks to be carried out based on data:

    • Tax liability basis tax rates

    • type of tax based on the place of supply viz. Inter-state or Intra-state or zero-rated

    • gross tax liability

    Inward supply – control checks to be carried out based on data:

    • Analysis and identification of blocked credits based on narration and nature of expense account

    • Allowability of input tax credit based on nature of turnover

    • Reversal of input tax credit as per regulations

    • Net allowable input tax credit

    • verification of non-GST and exempted inward supplies

    PROFESSIONAL TAX COMPLIANCE
    • Derive PT liability on a monthly basis on employees to the government.

    • Filing of Monthly PT Return

    Govt. Fees- Extra

    ₹36999

    Buy Now

    Overview

    Limited Liability Partnership (LLP) Compliances

    Limited liability partnership as the name suggests is the combination of both company and partnership firm, where the members of the LLP can enjoy limited liability up to the extent of their contribution made and flexibility of the partnership firm.
    A limited liability partnership is also called a hybrid of company and partnership firm which is incorporated under the limited liability partnership act 2008.
    The minimum number of members required to start LLP is 2 and the maximum is unlimited. The LLP has continued existence irrespective of changes in its members.
    After the incorporation of LLP, it is the responsibility of the firm to file certain compliance to the ROC. If the LLP fails to do so then it has faced a huge amount of penalties. Here are a list of compliances to be followed.

    Benefits of filing LLP Compliance

    The advantages of filing LLP Compliance are explained below,

    • Filing compliance with the ministry of corporate affairs and the registry of companies will increase the goodwill of the LLP which develops confidence in the public and also gain trust from investors.
    • Filing compliance on time reduces the risk of penalties on the head of LLP.
    • As the LLP files compliances properly, the burden of more compliances is reduced from the MCA.
    • It also encourages foreign investment in your LLP, which leads to an increase in the capital amount of the LLP.

    These are the advantages of filing compliance with LLP

    Compliance for Limited Liability Partnership

    There are some compliances that are mandatory to file a single time, such as.

    1. LLP form 3
    2. The partners of LLP are required to submit an LLP agreement along with LLP form 3 with the registrar of companies.
    3. It is mandatory for the LLP to open a bank account in any bank in India in the name of the LLP and make transactions related to the firm with this account.
    4. After registering your LLP, it should obtain a Permanent Account Number (PAN) and a Tax deduction and collection account number (TAN) from the income tax department.
    5. The LLP whose turnover exceeds Rs. 40 lakhs [ services Rs. 20 lakhs ] is required to apply for GST registration. It can also be done after the incorporation of LLP.

    So these are the one-time compliance to be filed by LLP in order to avoid any penalties


    There are some compliances that are fulfilled annually

    1. LLP must close its books of accounts on the 31st of every year by filing FORM 8 with at least 2 designated partners within 30 days after the completion of 6 months of the financial year. This form 8 states accounts of the LLP and its solvency.
    2. LLP must file an annual return by filling out form 11 which includes a summary of designated partners and whether it contains any changes or not. This must be filed within 60 days after the closing of the financial year.
    3. An income tax return should be filed by LLP on or before the 31st of July every year. In case it requires a tax audit then the date is extended up to the 30th of September with the income tax department.
    4. The designated partners of LLP are required to file form DIR 3 KYC before 30th September of every financial year.
    5. LLP whose turnover exceeds 40 lakhs or contribution exceeds 25 lakhs should get their audit done.
    6. If LLP turnover is more than 5 crores or its contribution is 50 lakhs then he must file a return with form 11 which should be certified by the Companies secretary.

    So these are the compliance to be filed by the LLP to the registrar of companies

    Consequences of noncompliance of LLP

    If the LLP fails to file compliance on time, the penalty charged is? 100 every day until he files or if he fails to fulfill certain compulsory compliance the penalty charged will be huge which can be more than? 10000. It also causes problems for the closing LLP, as it is compulsory to file compliance before winding up LLP. 


    So these are the problems to be faced for not filing LLP of Compliance.

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