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Limited Liability Partnerships (LLPs) are required to submit two annual returns to the Registrar of Companies (ROC).
LLP Form 11 (Annual Return) provides a comprehensive overview of the LLP’s management and structural details, including information about its partners, their contributions, and any changes that occurred during the financial year.
LLP Form 8 (Statement of Account & Solvency) is crucial for disclosing the LLP’s financial health. It includes the LLP’s financial standing (Balance Sheet and Statement of Income & Expenditure) and a declaration by the designated partners affirming the LLP’s solvency and its ability to meet its liabilities and debts. This form also mandates a disclosure under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act), if applicable.
It is essential to finalize the financial statements before filing Form 8 with the ROC.
At SureTax Bizcare, our expert team of professionals offers efficient and hassle-free annual filing services for LLPs, ensuring full compliance.”
Sl. No | Particulars | Details | |
1 | (LLP Form 8) Statement of Account & Solvency | LLP Form 8 or the Statement of Account & Solvency is a yearly filing requirement for all Limited Liability Partnerships (LLPs) registered in India. Regardless of the LLP's turnover, Form 8 must be submitted to the Ministry of Corporate Affairs. | |
2 | Details & Document Required to File LLP Form 8 | Sl.No | The following information and documents are required for filing LLP Annual Return: |
1 | Show that the turnover exceeds or less than Rs 40 lakhs | ||
2 | Provide evidence that the LLP has previously submitted a statement displaying the creation, modification, or satisfaction of charges for the current fiscal year. | ||
3 | Declare that the partners or authorized representatives have chosen to assume effective control and responsibility for maintaining adequate accounting records and preparing the accounts. | ||
4 | Required: Disclosures under the Micro, Small and Medium Enterprises Development Act, 2006. | ||
5 | If there are any contingent liabilities, a statement of such liabilities must be attached. | ||
6 | Additional information can be included as an optional attachment. | ||
3 | Form 11 Due Date | The due date for filing LLP Form 8 is within 30 days from the end of each financial year. This means that if the financial year ends on 31st March, the due date for filing LLP Form 8 would be 30th April of the same year. | |
4 | Normal Fees | Contribution in the LLP | |
Up to Rs. 1 Lakh | |||
More than Rs. 1 Lakh but Less than Rs. 5 Lakh | |||
More than Rs. 5 Lakh but Less than Rs. 10 Lakh | |||
More than Rs. 10 Lakh | |||
5 | Late Filing Penalty for Form 8 | If LLP Form 8 is filed after the due date, there is a late filing fee of Rs. 100 per day until the filing is completed. The late fee can increase over time, so it is important to file the form on time to avoid a heavy penalty. | |
6 | Signing of LLP Form 8 | The Form 8 of LLP must be signed digitally by at least two Designated Partners or Authorized Representatives of Foreign LLP. In case the LLP's turnover exceeds Rs. 40 lakhs or the obligation of contribution of the partners exceeds Rs. 25 lakhs, it should be certified by the auditor of the LLP/FLLP. If not, the digital signatures of two Designated Partners would be sufficient. |
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