As a practicing Company Secretary, advise your client regarding the annual compliance requirements to be followed by LLP.

A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence. These are the following compliances which are required to be made by LLPs: Filing of Annual Return in Form 11: This form is a summary of the management affairs of the LLP, such as number of partners and their names. Form 11 needs to be filed within 60 days of the closure of the financial year. Hence, this annual return needs to be filed on or before 30th May every year by the LLP. In case the annual turnover of the LLP crosses ₹5 crore or the capital contribution from partners exceed more than ₹50 lakh, the Annual Return should be accompanied by a certificate from the Practising Company Secretary. Filing of Statement of Accounts of Financial Statements in Form 8: LLPs are required to maintain their books of accounts in Double Entry System and have to prepare statement of solvency every year ending on 31st March. Form 8 needs to be filed on or before 30th October of every year. Filing of Income Tax Returns: Every LLP is required to close financial year on 31st March every year and is also required to file returns with the Income Tax Department. LLPs whose annual turnover exceeds ₹40 lakh or whose capital contribution exceeds ₹25 lakhs are required to get their accounts audited by a qualified Chartered Accountant mandatorily. Last date for filing income tax return for LLPs requiring audit - 30th September of the Assessment Year ("AY"). LLPs are required to furnish report in Form 3CEB u/s 92 E of Income Tax- 30th November of the AY. In any other case - 31st July of the AY. Penalties: As per LLP Act 2008, if there is any delay in filing Form 8 and Form 11 of LLP, then it will attract penalty of ₹100 per day of default with no ceiling.