Dear Nirmit,
I tried to share best of my knowledge regarding the queries asked by you.
Answer:
1.a) As per Section 35 of LLP Act 2008 "Annual Retun" Every limited liability partnership shall file an annual return [Form 11] duly authenticated with the Registrar within sixty days (i.e. 30th May of each year) of closure of its financial year in such form and manner and accompanied by such fee as may be prescribed.
As per Section 34 of LLP Act 2008 "Books of Accounts" Every Limited Liability Partnership shall file [Form 8] within the prescribed time (within 30 days i.e. 30th October from the end of 6 months of the financial year to which statements of accounts relate), the Statement of Account and Solvency prepared pursuant to sub-section (2) with the Registrar every year in such form and manner and accompanied by such fees as may be prescribed.
Penal Provision for both the section 34 and 35:
The Limited Liability Partnership shall be shall be punishable with fine which shall not be less than Rs 25000 but which may extend to Rs. 5,00,000 The designated partner of such limited liability partnership shall be punishable with fine which shall not be less than Rs. 10,000 but which may extend to Rs. 1,00,000.
Answer:
1.b) In case of Section 35 (form 11) and Section 34 (form 8) there is no expressed provision of late fee. Either the LLP has to pay prescribed fee if paid within prescribed time limit or pay fine/penalty. Therefore late fee (i.e. fine) paid by LLP in previous years can be considered as Penalty. It may be noted that in Income tax only Late fee is allowed deduction not penalties
Answer:
2. It is mandatory to attach this detail in case any partner/ DP is a partner in any LLP and/ or director in any company. Therefore it can be said that it is not mandatory to attach detail if it is Nil.
Regards
Shreesh Kumar
CAclubindia
