The Ministry of Corporate Affairs ( MCA ) has updated important instructions to stakeholders submitting Limited Liability Partnership ( LLP ) Form No. 11, the annual return that LLPs must file, in an effort to ensure accurate and timely filing.
The ministry has advised all experts and designated partners participating in the filing process to closely adhere to certain criteria, especially when working with the related Excel sheet, which is an essential component of the submission.
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Before the Excel sheet is added to Form 11, stakeholders have been reminded that all required fields must be filled out completely and precisely. Erroneous or incomplete entries could cause the form to be rejected or cause processing problems. Prior to final submission, the MCA has made it clear that the records in the Excel sheet can be updated whenever necessary for correctness and thoroughness.
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The ministry additionally stressed an important point regarding the form’s auto-population of financial data. Once the Excel sheet is properly uploaded, the fields for “Total Obligation Amount” and “Total Contribution Received” on LLP Form 11 are intended to be automatically filled in using the data entered in the sheet. For the form to display accurate numbers, it is therefore essential that accurate and current financial information be entered in the Excel document.
Additionally, the form’s Table 9, which contains pre-filled data, has received notice. The MCA notes how important it is to confirm the accuracy and completeness of this material. In particular, the fields reflecting the “Total Number of Designated Partners” and the “Total Number of Partners” in the LLP will be instantly updated upon any changes made to Table 9. Stakeholders are responsible for making sure that these revisions accurately depict the LLP’s makeup on the filing date.
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LLP Form 11 is the Annual Return that must be filed by all Limited Liability Partnerships registered in India by 30th May of each year, even those that have not commenced business or are dormant. The exact date is 60 days from the close of the financial year.
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