There is a significant relaxation for LLPs as the LLP annual return form-11’s due date has been extended. LLP annual return form 11 is a crucial return that LLPs must submit each year. The announcement of the due date extension without having to pay an additional fee is a chance for all businesses with LLP registration to ensure compliance with the laws and avoid costly penalties. This article reviews the most recent revisions as the LLP year-end return due date has been extended.
What is the LLP Annual Return Form-11?
The LLP Annual Report Form-11 is an annual form of basic return that companies with an LLP registration are required to complete. Form 11 for annual returns is mandatory to file, even if the company isn’t operating or conducting any kind of business during the fiscal year.
The main purpose of filling out Form 11 is to prepare the annual report that is then checked by the RoL (Registrar of LLPs ) within 60 days of the conclusion of the fiscal year.
Latest Updates: LLP form 11 due date extended by MCA for FY 2021-22
Earlier, MCA released a notification in which the LLP annual return form-11 due date extended up to June 30, 2022. However, as per the latest tweet, the LLP Form 11 due date has been extended by MCA till July 15th, 2022. The official tweet from MCA is available at:
It means taxpayers can file LLP Form 11 for the Financial Year 2021–22 without paying additional fees till July 15th, 2022.
What are the penalties for submitting LLP Form 11 late?
A daily fine of Rs. 100 is imposed till the filing date.
What are the documents to be included on Form 11?
- The details of LLP or companies in which partners/ designated partners (DP) are directors or partners (It is mandatory to record these details if a partner/DP is a member of an LLP and/or director within any other business)
- Additional information can be included in an optional attachment to this electronic form.
- Form 4 (Notice of appointment, cessation, and change in designation of a designated partner or partner)
In the end, the news regarding LLP Annual Return Form 11 due dates being extended is a huge relief for companies. LLP businesses that are registered must seize this opportunity to avoid last-minute stress and costly fines.