Company & LLP Compliances
Company & LLP Compliances
Key Company Compliances:
- Annual filings with the Registrar of Companies (ROC) including Annual Return (Form MGT-7) and Financial Statements (Form AOC-4).
- Holding annual general meetings (AGMs) and board meetings with proper documentation and resolutions.
- Maintenance of statutory registers and records.
- Compliance with audit requirements and tax filings.
- Secretarial audits and adherence to corporate governance norms.
- Ensuring compliance with the latest Companies Amendment Acts and rules.
- Timely filing of event-based forms for changes in directors, registered office address, share capital, etc.
Key LLP Compliances:
- Filing Annual Return (Form 11) within 60 days of financial year-end, detailing partner contributions and changes.
- Filing Statement of Account & Solvency (Form 8) by October 30 each year, showing financial solvency.
- Maintaining books of accounts and auditing as required by turnover thresholds.
- Filing Income Tax Returns timely.
- Compliance with GST, TDS, PF, and other tax and labor laws as applicable.
- Event-based filings for changes in LLP agreement, partners, or designated partners.
- Filing DIR-3 KYC for designated partners holding DIN.
- Payment of penalties for delayed filings.
Differences Between Company and LLP Compliance:
- LLP compliances are generally lighter with fewer meetings and formalities.
- Companies have stricter governance, higher frequency and complexity of filings.
- Penalties for non-compliance exist for both but may differ in scale and nature.
Get an appointment
Common Questions
About Company & LLP Compliances
Companies must file Annual Returns (Form MGT-7) and Financial Statements (Form AOC-4) with the ROC, hold AGMs, maintain statutory registers, comply with audit mandates, and file tax returns.
LLPs must file Form 11 (Annual Return) by May 30 and Form 8 (Statement of Account & Solvency) by October 30. Income Tax Returns (ITR-5) must be filed annually, with audits required if turnover exceeds Rs. 40 lakh or contribution exceeds Rs. 25 lakh.
Yes, LLPs must maintain proper books of accounts and financial records as per the LLP Act and tax regulations.
Delayed filings attract penalties; for LLPs, it is generally Rs. 100 per day per form until filing is done.
Audit is mandatory if turnover exceeds Rs. 40 lakh or total partner contribution exceeds Rs. 25 lakh in a financial year.
Yes, even dormant or no-business LLPs must file annual returns and statements to avoid penalties.
Non-compliance can lead to heavy penalties, prosecution, restrictions on business activities, and damage to credibility.
All designated partners of LLPs holding DIN must file DIR-3 KYC annually to avoid disqualification.
