LIMITED LIABILITY PARTNERSHIP COMPLIANCES

1. GST COMPLIANCES

a.   GSTR-1: - This return contains the details of the sales done by the assessee. It can be filed on monthly and quarterly basis. Monthly return must be filed before 11th of every next month and Quarterly return must be filed before 13th of every next month of the quarter.

 

b.  GSTR-3B: - This return contains the details related to ITC. It can also be filed on monthly and quarterly basis. Monthly return must be filed before 20th of every next month and Quarterly return must be filed before 24th of every next month of the quarter.


c.   GSTR-9: - It is the annual return that must be filed by the assessee if the turnover is above 2 crores rupees. This return must be filed before 31st December of the next Financial Year.

 

d.  GSTR-9C: - It is also the annual return of the company that must be filed by the assessee along with GSTR 9 if the turnover is above 5 crores rupees. This return must be filed before 31st December of the next Financial Year.

2. ACCOUNTING AUDIT TRAIL

According to the updated accounting trail rule by MCA department, from 1st April 2023 onwards every private limited company has to maintain a proper accounting software in which it has to record all its business transaction properly.

3. INCOME TAX

a.   LLP ITR (non-tax audit): It must be filed before 31st July of every Assessment Year.

 

b.  Tax Audit: Company requiring tax audit must file its return before 30th September.

4. MCA COMPLIANCES

a.   DPT 3: If a company accepts public deposits, then it has to file this form before 30th June of the Assessment Year.


b.  DIN KYC: It is mandatory to file this form by every director of the company before 30th September so that their DIN remain active.

 

c.   AGM: It stands for Annual General Meeting. It is mandatory for all the company to conduct the AGM before 30th September of the Assessment Year.

 

d.  LLP FORM 11: It is the annual return of the LLP which contains the details of the financials, partners, and business activity. This form must be filed before 31st May of every Assessment year.

 

e.   LLP FORM 8: The main purpose of this form is to show the accounts and solvency status of the LLP. This form must be filed before 30th October.

5. ESIC COMPLIANCES

Monthly Contributions:

Employer’s contribution: 3.25% of employee's wages

Employee’s contribution: 0.75% of employee's wages

(This must be done before 15th of every month.)

 

6.   EPFO COMPLIANCES

Monthly Contributions:

Employee's share: 12% of basic salary

Employer's share: 12% of basic salary (Employer's share includes contributions towards EPF, EPS, and EDLI)

§  Out of employer's 12% share:

§  3.67% goes to EPF

§  8.33% goes to EPS (Employees' Pension Scheme)

§  0.5% goes to EDLI (Employees' Deposit-Linked Insurance)

(This must be done before 15th of every month.)