What are Rule 16(2), 17(1), 20(1) and 24(18)(a) under LLP Agreement ?
April 22, 2024Major Changes for LLPs in the Finance (No.2) Bill, 2024
August 1, 2024
· Income Tax Returns:
- LLPs must file their income tax returns by July 31st each year (if not subject to audit) or by September 30th (if subject to audit).
· DIR-3 KYC:
- All designated partners must complete DIR-3 KYC by September 30th each year. Failure to do so will result in a ₹5000 penalty for reactivation of the DIN (Director Identification Number).
· Statement of Accounts:
- File Form 8, the Statement of Accounts and Solvency, within 30 days from the end of six months of the financial year (by October 30th).