LLP Form 8

MCA form LLP 8 or statement of account and solvency composes a filing which should be furnished every year by all limited Liability Partnerships (LLPs) enrolled in India. No matter whatever the turnover of the LLP is, Form 8 must be filed with the Ministry of Corporate.

Filing LLP Form 8 is an essential requirement for Limited Liability Partnerships (LLPs) to ensure compliance with regulatory bodies and maintain transparency in financial reporting.

What is Form 8 for LLPs?

Now, several questions will be floating in your mind such as what is Form 8 for LLP, late fee or penalty for filing Form 8 LLP? Form 8 in LLP is a statement of accounts and solvency that is applicable to all LLPs regardless of their turnover. Through this form, an LLP declares officially that its financial position is healthy enough and thus, it is capable enough to pay its liabilities and debts. Some other key particulars of the financial statement of the LLP are also disclosed in this form. LLPs need to submit these details through Form 8 within 30 days after the conclusion of the first half of the financial year. And hence, it is required to file LLP Form 8 by October 30th of each financial year.

LLP Form 8 annual filings is one of the necessary compliances for LLPs that needs to be followed properly and timely to avoid consequences associated with late filing such as late filing fees or penalty for form 8 LLP. With the below post, you will get to know about some necessary facets of LLP Form including Form 8 LLP due date, late fee, or penalties!

It’s necessary for the LLPs to submit these details through Form 8 within 30 days after the conclusion of the first half of the financial year. And hence, it is required to file LLP Form 8 by October 30th of each financial year. Failing to file Form 8 LLP can attract hefty late fees or penalty for form 8 LLP.

Filing of Form 8 LLP Due Date

The Filing of Form 8 LLP due date is 30th October of each financial year. Failing to file LLP Form 8 can impose a late fee or penalty of Rs. 100 per day. Along with filing LLP Form 8, LLPs are also required to file LLP Form 11 on or before May 30 of every financial year.

Details Required for Filing Form 8

LLP Name and Address of the LLP
LLPIN (Limited Liability Partnership Identification Number)
Jurisdiction of Police Station for the registered address of the LLP
Whether any charge is modified in favour of an Asset Reconstruction Company (ARC) or assignee
If the turnover exceeds Rs 40 lakhs of the LLP
Whether the obligation of contribution exceeds Rs 25 lakhs
Statement of Assets and Liabilities as of 31st March
Statement of Income and Expenditure for the financial year

Filing Fee for LLP Form & Penalty for Non-filing of MCA

LLP Form 8 Filing Fees

The LLP Form 8 filing fees vary according to the annual turnover of the LLPs. The table provided below gives you a better understanding of filing fees of Form 8 for different LLPs.

Contribution of LLP	Filing fees of Form 8
Up to INR 1 Lakhs	INR 50
More than INR 1 Lakhs up to INR 5 Lakhs	INR 100
More than INR 5 Lakhs up to INR 10 Lakhs	INR 150
More than INR 10 Lakhs up to INR 25 Lakhs	INR 200
More than INR 25 Lakhs up to INR 1 Crore	INR 400
More than INR 1 Crore	INR 600

Late fees or Penalty for Late Form 8 LLP Filing

The table provided below gives you information about the late filing fees Form 8 of LLP as per the different delay period of filing this form.

S.No	Period of Delays	Small LLPs	Other than Small LLPs
1.	Upto 15 days	One time	One time
2.	More than 15 days and upto 30 days	2 times of normal filing fees	4 times of Normal Filing Fees
3.	More than 30 days and upto 60 days	4 times of normal filing fees	8 times of Normal Filing Fees
4.	More than 60 days and upto 90 days	6 times of normal filing fees	12 times of Normal Filing Fees
5.	More than 90 days and upto 120 days	10 times of normal filing fees	20 times of Normal Filing Fees
6.	More than 180 days and upto 360 days	15 times of normal filing fees	30 times of Normal Filing Fees
7.	More than 360 days	25 times of normal filing fees	50 times of Normal Filing Fees

Account and Solvency Statement

MCA Form 8 is also called Statement of Account & Solvency. In Form 8, the LLP should furnish the information of the financial transactions within the fiscal year and the position to finish the fiscal year. Moreover to the fiscal part, the LLP should mention:

Show that the turnover exceeds or less than Rs 40 lakhs.
Show that the LLP has previously furnished a statement showing the creation of charges or modification or satisfaction till the current fiscal year.
Show that the partners or authorised representatives have opted for effective handling and responsibility to maintain enough accounting records and preparation of accounts.

Attachments with LLP Form 8

The below-mentioned documents should be attached with Form 8:

Mandatory: Disclosure under Micro, Small and Medium Enterprises Development Act, 2006.
Towards the emergency liabilities happen, a statement of contingent liabilities needs to be attached.
Any additional details would be given as an optional attachment.

Chartered Accountant and Partners Signature

Form 8 is needed to be digitally signed by a minimum of two Designated Partners of LLP or Authorised Representatives of Foreign LLP. Moreover when the total turnover of the LLP is more than Rs 40 lakhs or partners’ responsibility for the contribution of more than Rs 25 lakh, then Form 8 must be certified by the auditor of the LLP/ FLLP. or, the digital signature of a minimum of two Designated Partners would be enough.

Step by Step to Produce MCA LLP 8 Form

Step 1: Open MCA V3 homepage

Step 2: Login to MCA portal with genuine credentials

Step 3: Click “MCA services” and then choose “LLP E-Filing”

Step 4: Select “Form 8 – Statement of Account & Solvency”

Step 5: Checkmark the option “Statement of Account & Solvency

Step 6: Input LLP Information

Step 7: Complete the application

Step 8: Click on submit form after successful save at each step.

Step 9: SRN is generated upon after submitting the form.(The SRN can be operated by the user for any forthcoming resemblance with MCA.)

Step 10: Download the webform and affix DSC.

Step 11: Upload the DSC affixed pdf document to MCA V3 portal

Step 12: Pay Fees (In point the user does not modify or successfully upload the DSC affixed PDF within 15 days of SRN generation and complete the payment within 7 days of successful upload of DSC affixed document or due date of filing of the form + 2 days, whichever is earlier, the SRN will be revoked/ cancelled.)

Step 13: Download the paid Challan/ Acknowledgement.

FAQs

what do you mean by MCA LLP Form 8?

LLP Form 8 is an Annual Filing Form that is needed to file along with ROC every year. The same is a statement of accounts and solvency. The same Form poses a declaration on the basis of the solvency of the LLP by the designated partners and indeed the data concerned to the statement of assets and liabilities and statement of the income and expenditure of LLP. the same forms need to be furnished via LLP on a yearly grounds.

Who must furnish LLP Form 8?

Every LLP existing or started on or before 30th September will need to furnish Form 8 before 30th October.

Practice area's of B K Goyal & Co LLP

Most read resources