Any Individual can be a partner in LLP.
A minimum of two partners are required to start LLP.
Annual Returns is required to be filed in Form 11 to the Registrar within 60 days from the Financial Year closure, i.e., before 30th May every year by every LLP. Form 8 is to be prepared and closed until 31st March, every year.
As per the audit under LLP Act, only those LLPs whose annual turnover exceeds Rs. 40 lakhs or if their contribution exceeds Rs. 25 lakhs are required to get their accounts audited.
There are mainly three mandatory compliances associated with every LLP at any financial year: Annual Return of LLP (Form 11) Financial Statements of the LLP (Form 8) Income Tax Returns Filing
LLP is a partnership with limited liability. Every ministry which is registered with the Ministry of Corporate Affairs requires filing the Annual Returns and Statements of Accounts every year and that is annual filing for LLP.