Annual Returns of an LLP are filed in Form-11 with the MCA. Annual Returns of the LLP describes the details relating to the management of LLP, number of partners, their names, address, etc. Annual Returns must be filed by May 30 every year for the financial year ending on March 31.Other LLP Compliances:An LLP needs to maintain its Books of Accounts in Double Entry System and prepare its Statement of Solvency for every financial year on or before October 30. If the annual turnover of the LLP exceeds Rs. 40 lakh or its contribution exceeds Rs. 25 lakh, it is required to compulsorily get its accounts audited by a Chartered Accountant. Financial Statement of an LLP includes the following information:Balance SheetStatement of Profit and LossCash Flow StatementNotes and SchedulesAn LLP also needs to file its Income Tax Return with the IT department in Form ITR 5. If the annual turnover of the LLP is more than Rs. 60 lakhs or its contribution has exceeded Rs. 25 lakh, the books of accounts must be audited and the return must be filed before September 30.If an LLP has entered into international transactions with associated enterprises or has undertaken specified Domestic Transactions, it needs to file Form 3CEB. This form is to be certified by a practicing Chartered Accountant and must be filed by November 30.Penalty for Non-FilingThe Limited Liability Partnership Act, 2022 states that non-compliance with the LLP annual ROC compliances can lead to a penalty of Rs. 100 per day for every form not filed. There is no upper ceiling for such penalty amount. Designated partners can also face a personal penalty of Rs. 10,000 extendable up to Rs. 1 lakh for non-filing of the statement of accounts.The answer is submitted by Legistify, an online platform to access the best legal and accounting solution for any kind of matters in India. You can call them at 08468833013 or send an email at contact@legistify.com.