Drastic Reduction in additional fees for filing of Annual returns of LLP

DRASTIC REDUCTION IN ADDITION FEES FOR FILING OF ANNUAL RETURNS OF LLP

The Central Government hereby makes the following rules further to amend the Limited Liability Partnership Rules, 2009, namely

(1) These rules may be called the Limited Liability Partnership (Amendment) Rules, 2022.

(2) They shall come into force with effect from the 01st April, 2022.

(3) All LLPs registered under Limited Liability Act, 2008 have to annually file two forms – Form 11 and Form 8.

a. Annual Return: Form 11 is to be submitted within 60 days of closure of the financial year i.e 30th May of each year. (Financial year closes on 31st March.)

b. Statement of Account and Solvency: Form 8 is to be submitted within 30 days from the expiry of six months from the closure of the financial year i.e 30th October of each year.

Before Amendment if any LLP does not file annual returns timely (on due dates) then additional fees of Rs. 100 per Day was applicable. Let us know what will be the additional fees applicable for delay in filing of forms after the amendment.

For example if any LLP (whose contribution amount not exceed 1 lakhs )has not filed form-11 for F.Y. 2020-21 and wants to file on 25.04.2022 then LLP no needs to pay additional fees (356*x) . The additional fees will be applicable as per above table Rs. 750 (for small LLP , 15 times of normal fees (15*x) and Rs. 1500 (other than small LLP 30 times of normal fees (30*x).