Return of llp

[satbir singhwahi]

Sir

Existing Partnership was converted to llp on 11.03.2016. The new pan for llp was alloted on 07.04.2016.No receipts in new llp is received during 11.03.2016 to 31.03.2016.Whether any return of new llp need to be filed by 31.05.2016.If required then what financials to be made, as all payments upto 31.03.16 are received under pan of existing partnership.

[Ganeshan Kalyani]

Sir, though the PAN is allotted later but the effect of change in the status of the entity is different. You would have executed some agreement or court order would be there which will carry the date of change of partnership into LLP. In my view that date would have to follow for compliance. Thanks.

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in your query since your query is on or before 31.05.2016.

[satbir singhwahi]

Sir

reply awaited

[DR.MARIAPPAN GOVINDARAJAN]

In my opinion no return is required to be filed.

AI Summary

Return filing requirement for converted LLP questioned; one view ties compliance to conversion date, another says no return needed. Whether a newly formed LLP must file returns for the period ending 31 March when conversion from a partnership occurred earlier but PAN was allotted later is contested: one view holds the effective date of conversion (per conversion agreement or order) determines compliance and filings should follow that date; another view contends no return is required for the LLP for that period.