LLP Compliances and Obligations after Registration

Introduction
In this superfast world, running a business, making the right choice for its business as well as making sure it is complied with all the rules and regulations, is a huge challenge. This blog structurally discusses the kind of LLP Compliances and obligation needs to adhere to after registration. It is a necessary thing to keep in mind before planning its registration, the compliances it has to do as per the legal rules, as well as other compliance to keep the business running efficiently and in a cost- efficient manner , because this would help in planning budgets for the process. As business look for longevity, this blog discusses the practical aspect in detail.

LLP Compliances Post Registration
The compliance business has to adhere to, can be stated into two categories legal as well as others or non-legal, which discusses the costs businesses generally consider after the registration of their LLP.

Legal
Annual Compliance
Annual Compliance like the IT Filling Returns and the audit filing which must be filed with the Registrar of Companies (RoC) . LLP must present their business health and financial condition with complete transparency. Annual return form (Form 11) & Statement of account & solvency form (Form 8) , these key documents outlines the LLPs performance and hence, need to be submitted to the Registrar of Companies (RoC).

Designated Partners, roles and responsibilities
The roles and responsibilities of designated partners are different from those of normal partners. They have to make sure the compliance is happening properly or not they have the sole authority to sign important documents related to the LLP. Any change among the designated partners can lead to change in the partnership structure.

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