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Annual Filings for LLP

Limited Liability Partnership has compliances, but they chiefly focus on LLP annual filings and are fewer in comparison as compared to Private Limited Companies. Their compliances include - filing of the statement of accounts and annual returns every year. Failure to file returns or abide by other statutory compliances will result in heavy penalties, which could even go up to five lakhs.

Advantages of Setting Up a Annual Filings for LLP :

  • Helpful for gaining loans or investments in the future
  • Can avert stiff fines and getting blacklisted
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