Llp Annual Filing In Kerala

Limited Liability Partnerships in Kerala need to file the annual return within 60 days from the end of the financial year and an account solvency statement has to be filed within 30 days from the end of six months of the closure of the financial year. The financial year of the LLP starts from the 1st of April to the 31st of March. The annual returns of the LLP are due on May 30th while the statement of accounts and solvency is due on the 30th of October of every financial year. Along with the MCA annual return filing in Kerala, the LLPs are also required to file the income tax return every year.

Tax rates for LLP annual filing in Kerala

The tax rates Applicable for the LLPs registered in India are 30% of the total income. If the total income is exceeding Rs.1 crore a surcharge is also levied on the income at the rate of 12%.

Health and Education Cess

Health and Education cess of 4% is applicable on the amount of tax and the surcharge that is applicable.

Minimum Alternate Tax (MAT) for LLP

Limited Liability Partnerships are also subject to the minimum alternate tax which is 18.5% of the total income applicable for the LLP. Hence, the income tax payable by the LLP cannot be less than 18.5%

LLPs Involved in International Transaction

LLPs that are involved in an international transaction with the associated enterprises or have undertaken specified domestic transactions are required to file Form 3CEB. Form 3CEB is to be certified by a Chartered Accountant. The LLPs are required to file Form 3CEB by the 30th of November.

Necessary Compliance to be maintained while LLP annual filing in Kerala

LLP Account maintenance

A Limited Liability Partnership is required to maintain proper bank accounts on a cash basis or accrual basis. The LLPs have an option of maintaining the books of accounts on a cash basis as well. The books of accounts have to be maintained at the registered office of the LLP and need to have information on:

Money received and spent

Assets and the liabilities

Statement of COGS

Inventories and finished good statements

By the end of each financial year, the Limited Liability Partnerships are required to prepare the financial statements within 6 months for filing with the ROC.

What are the statements of Accounts and Solvency?

The registered LLPs are required to maintain the books of accounts and fill the data regarding the profits that have been incurred and other financial data relevant to the business and submit it with Form 8 every year.

This Form 8 has to be attested by the designated partner by duly signing it. It is also necessary to get it certified by a practicing Chartered Accountant or Company secretary.

Filing to file the statement of accounts and solvency reports might lead to a penalty of Rs.100 per day.

Llp Annual Filing In Kerala FAQ's

What is LLP annual filing in Kerala?

All the LLPs that are registered with the MCA have to file the annual returns in Kerala along with the statement of accounts every year.

What are the mandatory annual compliances to be maintained while LLP annual filing in Kerala?

The 3 main compliances to be mandatorily filed by LLP while annual filing in Kerala is:
  • Annual return
  • Financial statement of the LLP
  • Income Tax return filings

Is it necessary for the LLP to file annual returns in Kerala if there is no business activity in the current year?

Yes, every LLP in Kerala is required to file annual returns and financial statements with the ministry even if they are not doing any business. A nil return should be filed.

Which Forms are to be filed every year under the LLP annual return filing in Kerala?

Form 11 and Form 8 are to be filed regularly under the LLP annual return filing in Kerala.

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Last updated: Apr 18, 2023

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