Limited liability partnerships (LLPs) have less compliances to fulfil than private limited companies. LLPs have to file information related to statement of accounts and annual returns on yearly basis.But it will be a costly affair for them if they are unable to do so. Because penalties imposed are very costly going up to Rs. 5 lakhs in some cases.
The compliance requirements of many companies get piled up for a long time. In reality, you do not have to put on much efforts for doing so. You should have disciplined approach towards it from the initial days itself. So that it will be highly useful whenever you look for an investment or a bank loan because they have to ensure that your business is compliant with the Registrar of Companies (RoC's) requirements.
Our team will keep you updated with all the changes made by the RoC throughout the year. It will make sure that your business is running in alignment with the laws of RoC.