ICAI issued Technical Guide on Filing Forms for LLPs and Companies

The Institute of Chartered Accountant of India(ICAI) has issued Technical Guide on Filing Forms for LLPs and Companies.

The Ministry of Corporate Affairs as its pilot project aiming at Ease of Doing Business (EoDB) has migrated from version 2 to version 3 portal of MCA 21. As part of this launch, the LLP forms have been migrated to Version 3 and the Company Forms are in line to be migrated to V3 as well.

Extreme enhancements have been made in the migrated version i.e. Version 3 of MCA 21 using Artificial Intelligence, Machine Learning etc. due to which significant changes have been made and in turn due to which difficulties are being faced by the stakeholders at large either due to lack of user awareness of the new portal or due to certain issues at the technical end.

In light of this, the Ministry of Corporate Affairs has published FAQs on its website and held numerous workshops in collaboration with the ICAI on the process of filing all LLP forms in order to keep users informed of all the most recent improvements and changes in filing procedure.

Since every LLP is required to file the LLP Form-11, which is one of the most significant forms, it has been seen that many users are having trouble submitting the form correctly as a result of a lack of user awareness.

Therefore, in furtherance of the objective to create user awareness, the Institute of Chartered Accountants of India (ICAI) through its CL&CGC has decided to bring out this publication which may help the user in understanding the process of filing form-11, prerequisites before filing this Form and understand the difference of requirements in Version-2 v/s Version-3 to be able to successfully upload it.

Form-11 (Annual Return of Limited Liability Partnership)

Purpose

This form is for filing annual return of LLP with the Registrar. This form is required to be filed every year within 60 days of closure of its financial year.

Reference to the law governing the e-form

This form is required to be filed pursuant to Section 35(1) read with rule 25(1) of the LLP Rules, 2009

Extract of the law is stated below:

Section 35(1)- “Every limited liability partnership shall file an annual return duly authenticated with the Registrar within sixty days of closure of its financial year in such form and manner and accompanied by such fee as may be prescribed”.

Rule 25(1)- “For the purpose of sub-section 1 of section 35, every Limited Liability Partnership shall file an annual return with the Registrar in Form-11”.

Due date of filing the e-form

The due date to file e-form 11 for FY 2021-22 is 30th May 2022, i.e. within 60 days of closure of financial year.

Change in timelines due to difficulties faced in filing the e-forms

The Ministry of Corporate Affairs vide Ministry’s General Circular No- 07/2022 dated 29th June 2022 had extended the due date of filing LLP Form-11 up to 15th July 2022 in view of the various difficulties being faced by the stakeholders in filing the LLP e-forms.

Therefore, the stakeholders may file the LLP e-form-11 by 15th July 2022 for FY 2021-22 without payment of any additional fees

To Read Full Technical Guide – Click Here