Every LLP need to file Its Annual Returns, Statement of Account , Income Tax Return. MCA and Income Tax department given LLP Due date compliance calendar FY 2019-20. For LLP there are three major compliances for FY 2019-20. This compliance’s return need to filed even if LLP not carrying any business activity. Annual Returns and Statement of Accounts for the Financial Year 2019-20.
Every Limited Liability Partnership need file Form 11 with Ministry of Corporate Affairs. This form need to be filed with in 60 days from end of Financial year. Due Date for Filing Form 11 For FY 2019-20 is 30 May 2020. This form contain information about Number of Partner , Contribution received, information of Body corporate as partner in LLP. This form need to filed online with use of DSC of Partner.
Every Registered LLP in India , required to File Form 8 with Ministry of Corporate Affairs (MCA). Due Date for Filing Form 8 For FY 2019-20 is 30 October 2020. This form have details of Annual statements of LLP. Where LLP registered before 30 September 2019 Form 8 is required to filed. Form 8 is generally known as Statement of Account & Solvency. This have details of Profit and Loss statement and Balance sheet of LLP. Form filing Form 8 LLP need to prepare its Financial statements.
In terms of Income Tax , LLP is different entity from Its partners. Every LLP need to file Income Tax return. In Income tax return LLP need to show its Financial statements and calculate profit accordingly. LLP need to calculate there income tax liability and pay it become filing of Income tax return. For LLP not under audit , its due date for LLP ITR Filing FY 2019-20 is July 2020. Even where LLP not carrying business need to file NIL ITR return.
Tax Audit Report for LLP is Verification of Books Accounts , Supporting documents etc. by Practicing Chartered Accountant. This audit need done as per Section 44AB of Income Tax Act 1961. LLP whos turnover falling under tax audit criteria required to File TAX Audit Report Form 3CD, 3CB to Income Tax Authorities.
LLP Tax Audit Due Date FY 2019-20
Every GST Registered LLP need to file GST Returns. GSTR 3 B return need to be filed in 20th of each month.
Failure to file LLP Annual Filing Form 8 and 11 can lead to penalty of Rs.100/- per day per form. In case of non filing of Form 8 and 11 , late fees of Rs.200/- ( 100+100 ) per day till today date will be calculated. Its is also important to note that LLP Cannot be closed without annual filing. On failure to file MCA annual filing LLP may result into unlimited Statutory liability. Example ( For Late filing of Form 11 by 45 days by cost late fees of Rs. 4500/- ( 45 * 100 )
Section 234 F of Income Tax Act 1961, introduced for Penalty for NON Filing of Income Tax return LLP. For Financial Year 2019-20 failure to file Income tax return by LLP incurs penalty of upto Rs.10000/- . LLP who filing Income tax return after 31 December 2020 , the mandatory penalty of Rs.10000/- shall be applicable.
Below is Time Line chart For Penalty For Non Filing of Income Tax Return of LLP FY 2019-20
| E- Filing Date | LLP Total income Below Rs 5,00,000 | LLP Total income Above Rs 5,00,000 |
| 31st August 2019 | Rs 0 | Rs 0 |
| Between 1st Sep 20 to 31 st Dec 20 | Rs 1,000 | Rs 5,000 |
| Between 1st Jan 21 to 31st March 21 | Rs 1,000 | Rs 10,000 |
All LLP filing for FY 2019-20 need to be done through Digital Signature of Partner. For Filing Form 8 , Form 11 and Income tax return DSC is required.
Every LLP need to do timely filings of Form 8 , Form 11 and Income Tax Return. For Point of MCA LLP carries unlimited liability for failure to do compliance. Below is summarized LLP Due Date Compliance Calendar FY 2019-20.
| Sr. No. | Nature of filing | Filing At | LLP Due Date Calendar FY 2019-20 |
| 1 | Annual Return (Form 11) | MCA | 30-05-2020 |
| 2 | Accounts (Form 8) | MCA | 30-10-2020 |
| 3 | Income Tax Return (where Audit is not mandatory) | Incoem Tax | 31-07-2020 |
| 4 | Income Tax Return (where Audit is mandatory) | Incoem Tax | 30-09-2020 |
