Limited Liability Partnership are those firms which are registered under the Indian LLP Act, 2008 and the LLP Rules, 2009 as all other Companies, LLPs are also mandatorily required to make some annual and periodic compliance with MCA, Income Tax Department, and other concerned Regulatory Bodies and Authorities whether the LLP’s Partners doing business or not.LLP’s really enjoys the separate status. Filing annual compliance is mandatory for any LLP, whether having a business or not. Annual Compliance for LLP requires filing two separate forms from which the first one is for annual return and another one is for the statement of Accounting and Insolvency.
Requirement for LLP Compliance
It must that LLP’s follow their Financial Year from 1st April to 31st March. The LLP annual compliance has to be met by each and every registered LLP even if there is no business activity. In fact, it has to be met even if the LLP has been closed down and whether or not a business bank account exists.