The LLP (Limited Liability Partnership) Form 11, which is the annual return to be filed by all LLPs, has a due date of May 30, 2024. The filing deadline falls within 60 days from the closure of the financial year. It is essential for LLPs to comply with this requirement to avoid penalties.
Here are more details related to the LLP Form 11 filing and the implications of late filing:
- Annual Return Requirement: LLP Form 11 serves as the annual return that LLPs are required to submit to the Ministry of Corporate Affairs (MCA). This filing provides crucial information about the LLP’s management, operations, and financial position, and is a mandatory compliance measure.
- Due Date and Calculation: The due date of May 30, 2024, is set to ensure that LLPs submit their annual return within 60 days from the end of the financial year, as mandated by the regulatory framework. This deadline is vital for maintaining compliance and transparency in LLP operations.
- Late Filing Penalty: In the event of non-compliance or late filing of the LLP Form 11, LLPs may be subject to penalties. As per the information provided, the late filing penalty for LLP Form 11 is Rs. 100 per day. Therefore, it is crucial for LLPs to adhere to the filing deadline to avoid incurring financial penalties.
- Consequences of Non-Compliance: Failure to file the annual return within the stipulated timeline can have adverse repercussions on the LLP, including financial penalties, reputational risks, and potential legal implications. Additionally, non-compliance with annual return filings may impact the LLP’s standing and eligibility for various business activities.
Adhering to the statutory requirement of filing LLP Form 11 in a timely manner is essential for LLPs to maintain compliance with regulations, avoid financial penalties, and uphold transparency in their business operations.
