ROC Filing For Partnership In Andhra Pradesh
ROC Filing For Partnership In Andhra Pradesh
Blog Article
Overview – ROC Filing for Partnership in Andhra Pradesh
In Andhra Pradesh, traditional partnership firms are governed by the Indian Partnership Act, 1932, and must be registered with the Registrar of Firms (ROF) under the state government. As a result, ROC filing requirements do not apply to standard partnerships.
However, if the firm is registered as a Limited Liability Partnership (LLP) under the LLP Act, 2008, it is required to comply with ROC filing obligations. LLPs must submit Form 3 (LLP Agreement), Form 8 (Statement of Accounts and Solvency) by October 30th, and Form 11 (Annual Return) by May 30th each year to the ROC Hyderabad, which has jurisdiction over Andhra Pradesh.
Failure to file these forms can lead to penalties of ₹100 per day for each overdue form. Additionally, filing income tax returns is mandatory. In summary, only LLPs and companies are subject to ROC compliance, while traditional partnership firms operate under state-level registration and reporting procedures.
Eligibility Criteria for ROC Filing for Partnership in Andhra Pradesh
- LLP Registration: The firm must be incorporated as a Limited Liability Partnership under the LLP Act, 2008.
- MCA Registration & LLPIN: It must be registered with the Ministry of Corporate Affairs and possess a valid LLP Identification Number (LLPIN).
- Active Status: The LLP should be active on the MCA portal; entities that are inactive or struck off are not eligible for ROC filings.
- ROC Jurisdiction: The LLP must fall under the jurisdiction of ROC Hyderabad, which oversees Andhra Pradesh and Telangana.
- Filing of LLP Agreement: Form 3 (LLP Agreement) must be filed within 30 days of incorporation to ensure compliance.
- Annual Filings: The LLP is required to file Form 11 by May 30th and Form 8 by October 30th each year.
- PAN & TAN: A valid Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) are mandatory for income tax and TDS filings.
- Designated Partners & DSCs: The LLP must have at least two designated partners, including at least one Indian resident, both holding valid Digital Signature Certificates (DSCs).
Advantages of ROC Filing for Partnership in Andhra Pradesh
- Legal Recognition: Achieving official approval from the MCA enhances the LLP’s credibility and legal standing.
- Limited Liability Protection: Partners’ liabilities are restricted to their invested capital, protecting personal assets from business liabilities.
- Financial Transparency: Regular filings promote clear and accurate financial reporting, fostering trust among stakeholders.
- Enhanced Access to Funding: Compliance improves eligibility for loans, investments, and government grants.
- Penalty Avoidance: Timely statutory filings help avoid fines and potential legal complications.
- Smooth Business Operations: Maintaining active status ensures uninterrupted and compliant business activities.
- Reputation Building: Demonstrating professionalism through compliance strengthens stakeholder confidence and market reputation.
- Facilitated Business Expansion: Simplifies the process of adding partners and scaling the business with fewer regulatory hurdles.
Documents Required for ROC Filing for Partnership in Andhra Pradesh
- Proof of Registered Office: Submit a rent agreement or sale deed for the office premises in Andhra Pradesh. For rented offices, include a No Objection Certificate (NOC) from the property owner along with a recent utility bill (not older than 2 months).
- Identity Proof of Designated Partners: Provide each partner’s PAN card and one valid government-issued ID such as Aadhaar Card, copyright, Voter ID, or copyright.
- Address Proof of Designated Partners: Submit valid address proof like Aadhaar Card, copyright, Voter ID, or copyright. Alternatively, a recent utility bill or copyright dated within the last 2 months is acceptable.
- Digital Signature Certificate (DSC): All designated partners must obtain a valid DSC for digitally signing incorporation and compliance documents.
- Director Identification Number (DIN): Each designated partner must have a DIN; if not, it should be applied for during the incorporation process.
- LLP Agreement: Prepare and execute the LLP Agreement outlining partners’ rights and responsibilities, and file it with the Registrar of Companies (ROC) within 30 days of incorporation using Form 3.
- Incorporation Documents: File the incorporation form (Form 2) on the MCA portal, including details of all partners and their consent letters.
- No Objection Certificate (NOC): An NOC from the property owner is required if the registered office is rented.
Online Process of ROC Filing for Partnership in Andhra Pradesh
- Register on the MCA Portal: Visit www.mca.gov.in and create an account by registering with a valid user ID and password.
- Obtain a Digital Signature Certificate (DSC): Each designated partner must acquire a valid DSC to digitally sign incorporation and compliance documents.
- Apply for DPIN/DIN: Partners who do not have a Designated Partner Identification Number (DPIN) or Director Identification Number (DIN) should apply for one through the MCA portal.
- Reserve the LLP Name: Use the RUN-LLP (Reserve Unique Name) service to select and reserve a unique, compliant LLP name.
- File the Incorporation Form: Complete and submit the online incorporation form on the MCA portal, attaching all required documents, including the draft LLP agreement.
- Submit the LLP Agreement: File the signed LLP agreement using Form 3 within 30 days of incorporation to formalize the partnership terms.
- Fulfill Annual Compliance Requirements: Regularly file Form 11 (Annual Return) by May 30 and Form 8 (Statement of Accounts & Solvency) by October 30 each financial year.