About:
The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India.
Limited Liability Partnership Act, 2008 is a body corporate and legal entity separate from its partners, have perpetual succession and any change in the partners of a Limited Liability Partnership shall not affect the existence, rights, or liability of the LLP.
Every LLP shall, within 6 months from the end of each financial year, prepare a Statement of Account and Solvency for the said financial year in the prescribed form, and such statement shall be signed by the designated partner of LLP.
Statement of Account and Solvency shall be filled with the Registrar every year in such form and manner and accompanied by prescribed fees.
FORM – 8
RULE 24 OF LLP RULES, 2009
Statement of Account and Solvency shall be filled in Form – 8 with the Registrar, within a period of 30 days from the end of 6 months of the financial year to which the Statement of Account and Solvency relates.
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.
Documents Required for Form – 8
The following documents required to attach with Form 8:
Mandatory: Disclosure under Micro, Small, and Medium Enterprises Development Act, 2006.
In case any contingent liabilities exist, 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. 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.
