A Limited Liability Partnership (LLP) in India is required to file annual returns, maintain proper books of accounts, and undergo tax audits if turnover exceeds the prescribed limit. LLPs must file Form 8 and Form 11 annually with the Ministry of Corporate Affairs (MCA) and also file income tax returns. They are taxed at a flat rate of 30% on profits, and they are not subject to dividend distribution tax.
Conclusion
Timely compliance with tax and regulatory requirements helps LLPs avoid penalties and maintain smooth operations, ensuring legal protection and financial transparency.