The Annual Returns and Account Statements of an LLP company must be filed every year in two separate forms; Form 11 & Form 8, 60 days prior to the financial year closure. Annual compliance of an LLP company is an absolute necessity because the regular compliance reporting provides the organization with higher credibility in case of conversion or closure of the company. The annual reports determine the financial worth of the company which may help the owners to get bigger projects and interested investors. The regular filing will ensure the active status of the business, and also save the company from heavy cost penalties.
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