Filing and Audit requirement under Income Tax Act:
Limited Liability Partnership (LLP)s whose turnover is more than INR 40 lakh or whose contribution has exceeded INR 25 Lakh are mandated to get their books of accounts audited by a practicing Chartered Accountant. The deadline to file the tax return for an LLP which is required to get his books audited is September 30th. For LLPs where tax audit is not required deadline, the due date for tax filing is July 31st.
For LLPs which have entered into any international transactions with associated enterprises or have undertaken specified Domestic Transactions, need to file Form 3CEB. This form should be certified by a practicing Chartered Accountant. Limited Liability Partnership (LLP)s which are required to file this Form can do their tax filing by 30th November.
LLP Annual Filing of income tax return has to be done in Form ITR 5. This form could be filed online via the income tax website with the help of the designated partner’s digital signature.