{"id":488,"date":"2017-12-22T11:40:26","date_gmt":"2017-12-22T11:40:26","guid":{"rendered":"http:\/\/ventureasy.com\/blog\/?p=488"},"modified":"2019-05-11T07:34:49","modified_gmt":"2019-05-11T07:34:49","slug":"penalty-non-filing-llp-annual-returns-can-winding-save-penalty","status":"publish","type":"post","link":"https:\/\/ventureasy.com\/blog\/penalty-non-filing-llp-annual-returns-can-winding-save-penalty\/","title":{"rendered":"Penalty for Non-filing of LLP annual returns &#8211; Can winding up save penalty?"},"content":{"rendered":"<p>Although Limited Liability Partnership is one of the most popular forms of starting a business, there are various compliances which are required to be followed annually once the business is incorporated.<\/p>\n<p><strong>The Annual Compliances of LLP primarily include:<\/strong><\/p>\n<ul>\n<li>Filing of Annual Return of the\u00a0LLP\u00a0in Form 8 &#8211;\u00a0<strong>Due date 30th\u00a0October of the succeeding FY<\/strong><\/li>\n<li>Filing of Financial Statements of the\u00a0LLP\u00a0in Form 11 &#8211;\u00a0<strong>Due date 30th\u00a0May of the succeeding FY<\/strong><\/li>\n<\/ul>\n<p><!--more--><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-489\" src=\"https:\/\/ventureasy.com\/blog\/wp-content\/uploads\/2017\/12\/20160625-penalty-kick-300x212.jpg\" alt=\"\" width=\"600\" height=\"423\" srcset=\"https:\/\/ventureasy.com\/blog\/wp-content\/uploads\/2017\/12\/20160625-penalty-kick-300x212.jpg 300w, https:\/\/ventureasy.com\/blog\/wp-content\/uploads\/2017\/12\/20160625-penalty-kick.jpg 754w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/p>\n<p><strong>Penalty for Non-filing<\/strong><\/p>\n<p>Late Filing of Form 8 and Form 11 attracts a late fee of Rs.100 per day each per form immediately after the due date till the date the form is actually filed.<\/p>\n<p>In view of the above, one can understand the huge of penalty that can be imposed if there is a substantial delay in filing the annual forms. One should note that these are online forms and cannot be filed without making the fee payment, in any case.<\/p>\n<p>We get numerous queries from many people who formed their LLP but did not carry out any business since the date of incorporation. The most common questions that arise at this point are:<\/p>\n<p><strong>Is it compulsory to complete the annual filings even if the business has not commenced or not been conducted throughout the year?<\/strong><\/p>\n<p>Yes, it is absolutely compulsory to complete the Annual Filings even if your business has not commenced or not been conducted throughout the year. There is no exemption to annual filings.<\/p>\n<p><strong>Can the LLP be closed without completing the Annual Filings? <\/strong><\/p>\n<p>No, it is important to complete the Annual Filings before closing down or winding up the LLP.<\/p>\n<p>Many partners of LLP\u2019s are under the impression that if they wind up the LLP, they can avoid the Penalty on non-filing. But unfortunately, this is not the case.\u00a0 An LLP cannot be wound up without completing the pending compliances as the process of Annual Filings and Winding up is inter-connected. The LLP can be wound up only when all the ROC compliances are up to date and MCA records are updated in this regard.<\/p>\n<p><strong>Conclusion:<\/strong><\/p>\n<p>Partners of LLP\u2019s should understand that winding up of the business is not the solution to escape the imposition of penalties.\u00a0 Rather they have to comply with all pending filings and update the ROC with the status of affairs, may it be for continuing the business or discontinuance.<\/p>\n<p>In view of the above it is utmost important to get your LLP incorporated from experienced and responsible professionals who could guide you in complying with the ROC Compliances.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Although Limited Liability Partnership is one of the most popular forms of starting a business, there are various compliances which are required to be followed annually once the business is incorporated. The Annual Compliances of LLP primarily include: Filing of Annual Return of the\u00a0LLP\u00a0in Form 8 &#8211;\u00a0Due date 30th\u00a0October of the succeeding FY Filing of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/ventureasy.com\/blog\/penalty-non-filing-llp-annual-returns-can-winding-save-penalty\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Penalty for Non-filing of LLP annual returns &#8211; Can winding up save penalty?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9],"tags":[],"class_list":["post-488","post","type-post","status-publish","format-standard","hentry","category-compliance","category-llp"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>Penalty for Non-filing of LLP annual returns - Can winding up save penalty? - VenturEasy<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/ventureasy.com\/blog\/penalty-non-filing-llp-annual-returns-can-winding-save-penalty\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Penalty for Non-filing of LLP annual returns - Can winding up save penalty? - VenturEasy\" \/>\r\n<meta property=\"og:description\" content=\"Although Limited Liability Partnership is one of the most popular forms of starting a business, there are various compliances which are required to be followed annually once the business is incorporated. The Annual Compliances of LLP primarily include: Filing of Annual Return of the\u00a0LLP\u00a0in Form 8 &#8211;\u00a0Due date 30th\u00a0October of the succeeding FY Filing of &hellip; Continue reading &quot;Penalty for Non-filing of LLP annual returns &#8211; Can winding up save penalty?&quot;\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/ventureasy.com\/blog\/penalty-non-filing-llp-annual-returns-can-winding-save-penalty\/\" \/>\r\n<meta property=\"og:site_name\" content=\"VenturEasy\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/VenturEasy\/\" \/>\r\n<meta property=\"article:published_time\" content=\"2017-12-22T11:40:26+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2019-05-11T07:34:49+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/ventureasy.com\/blog\/wp-content\/uploads\/2017\/12\/20160625-penalty-kick-300x212.jpg\" \/>\r\n<meta name=\"author\" content=\"Nikita Bhatia\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@VenturEasy\" \/>\r\n<meta name=\"twitter:site\" content=\"@VenturEasy\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nikita Bhatia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/ventureasy.com\\\/blog\\\/penalty-non-filing-llp-annual-returns-can-winding-save-penalty\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ventureasy.com\\\/blog\\\/penalty-non-filing-llp-annual-returns-can-winding-save-penalty\\\/\"},\"author\":{\"name\":\"Nikita Bhatia\",\"@id\":\"https:\\\/\\\/ventureasy.com\\\/blog\\\/#\\\/schema\\\/person\\\/5d48317c937aaa6d82a83922be1fbfbc\"},\"headline\":\"Penalty for Non-filing of LLP annual returns &#8211; Can winding up save penalty?\",\"datePublished\":\"2017-12-22T11:40:26+00:00\",\"dateModified\":\"2019-05-11T07:34:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ventureasy.com\\\/blog\\\/penalty-non-filing-llp-annual-returns-can-winding-save-penalty\\\/\"},\"wordCount\":435,\"publisher\":{\"@id\":\"https:\\\/\\\/ventureasy.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ventureasy.com\\\/blog\\\/penalty-non-filing-llp-annual-returns-can-winding-save-penalty\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ventureasy.com\\\/blog\\\/wp-content\\\/uploads\\\/2017\\\/12\\\/20160625-penalty-kick-300x212.jpg\",\"articleSection\":[\"Compliance\",\"LLP\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ventureasy.com\\\/blog\\\/penalty-non-filing-llp-annual-returns-can-winding-save-penalty\\\/\",\"url\":\"https:\\\/\\\/ventureasy.com\\\/blog\\\/penalty-non-filing-llp-annual-returns-can-winding-save-penalty\\\/\",\"name\":\"Penalty for Non-filing of LLP annual returns - Can winding up save penalty? 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