Limited Liability Partnership need to comply with the statutory compliances yearly but just like it's name suggested, the compliances are also limited in comparison to Pvt Ltd Company. LLP need to file annual forms related to their solvency and statement of accounts.
Apart from annual ROC compliances, LLP must file their Income tax Return also. As per LLP act, they need to get their accounts audited if their turnover exceeds 40 lakhs Rupees.
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