Form 8

LLP Form 8

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LLP Form 8

LLP Form 8 or Statement of Account & Solvency is a filing that must be filed every year by all Limited Liability Partnerships (LLPs) registered in India. Form 8 must be filed with the Ministry of Corporate irrespective of turnover of the LLP.

Form 8 Due Date

The due date for filing LLP Form 8 is 30th October of each financial year. Failure to file LLP Form 8 can incur a penalty of Rs.100 per day. In addition to filing LLP Form 8, all LLPs must all file LLP Form 11 before 30th May of each financial year.

Note: File your LLP annual return – LLP Form 8 and LLP Form 11 and income tax return in ITR-5 for just Rs.7899 through IndiaFilings. The price of Rs.7899 includes bookkeeping and preparation of financial statements.

LLP Compliance

All LLPs registered in India must file the following forms each financial year, irrespective of business turnover or profits.

  • LLP Form 11 Filing – Annual Return – Due on 30th May
  • LLP Form 8 Filing – Statement of Account & Solvency – Due on 30th October
  • ITR-5 – Income Tax Return for LLP – Due on 31st July if Tax Audit not required. Due on 30th September, if Tax Audit is required.

List of all LLP Compliances.

Statement of Account & Solvency

Form 8 is also known as Statement of Account & Solvency. In Form 8, the LLP must provide details of financial transactions undertaken during the financial year and position at the end of financial year. In addition to the financial position, the LLP must also declare:

  • Declare that the turnover is above or below Rs. 40 lakhs.
  • Declare that the LLP has already filed a statement indicating the creation of charges or modification or satisfaction till the present financial year.
  • Declare that the partners/authorized representatives have taken proper care and responsibility for maintenance of adequate accounting records and preparation of accounts.

Attachments

The following documents must be attached with Form 8:

  • Mandatory: Disclosure under Micro, Small and Medium Enterprises Development Act, 2006.
  • In case contingent liabilities exists, Statement of contingent liabilities to be attached.
  • Any other information can be provided as an optional attachment.

Signature of Partners & Chartered Accountant

Form 8 must be digitally signed by a minimum of two Designated Partners of LLP or Authorised Representatives of Foreign LLP. Further, if the total turnover of the LLP exceeds Rs. 40 lakhs or partner’s obligation of contribution exceeds Rs. 25 lakh, then Form 8 should be certified by the auditor of the LLP/ FLLP. Else, the digital signature of a minimum of two Designated Partners would suffice.

Form 8

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