LLP Annual Return Form 8

Introduction

MCA LLP form 8 or statement of account and solvency composes a filing that must be enhanced every year by all limited Liability Partnerships which are enrolled in India. No matter what the turnover of the LLP is must file LLP Form 8 with the Ministry of Corporate every year.

Due Date of LLP Form 8

The last date to file the LLP Form 8 is 30th October of each financial year. If an individual would not be able to file the LLP Form 8 then he can impose a penalty of Rs. 100/day. Moreover, LLPs should file the LLP Form 8 and LLP Form 11 before 30th May of each fiscal year.

MCA LLP Compliance Chart 

All LLPs enrolled in India should furnish some forms each fiscal year which are mentioned below whatever be turnover of the business is:

• Filing of LLP Form 11 under MCA before the due date on 30th May annually.

• Filing of MCA LLP Form 8 under MCA before the date of 30th October.

• If Tax Audit is not needed then ITR-5 – Income Tax Return for LLP – Due on 31st July and if Tax Audit is needed then the due date is 30th September.

Penalty for Non-filing of the LLP Form 8

When the LLP is unable to file the LLP Form 8 then he may pay a penalty of Rs.100/ day and would be subjected to pay from the last date of filing of LLP Form 8 till the actual filing of the Form.

Essential Points:

• In India, every LLP enrolled on or before 30th September is needed to essentially present a statement in MCA LLP Form 8 towards 31st March of every fiscal year.

• The last date to furnish the LLP Form 8 on 31st March 2022 for the financial year and it would be 30th October 2022.

• Filing fees of LLP Form 8 are mentioned below:

The same must be known that the filing fees for the foreign limited liability partnership of LLP Form 8 are Rs 1000.

Account and Solvency Statement

MCA LLP Form 8 is also known as Statement of Account & Solvency. In Form 8, the LLP should present the information on the financial transactions within the fiscal year. Moreover to the fiscal part, the LLP form 8 should mention below:

• Show that the turnover goes beyond or less than Rs. 40, 00, 000. 

• Show that the LLP has previously furnished a statement showing the creation of charges or modification till the present fiscal year. 

• Show that the partners or any authorized person have taken effective handling and responsibility to sustain enough accounting records and preparation of accounts. 

Attachments with LLP Form 8

The documents that should be attached with Form 8 are mentioned below:

• Mandatory: Under the Micro, Small, and Medium Enterprises Development Act, 2006 disclose all information that is required for filing an LLP form 8.

• A statement of contingent liabilities needs to be attached to the emergency liabilities happening.

Chartered Accountant and Partners Signature

LLP Form 8 is required to be digitally signed by a minimum of two Designated Partners of LLP or any authorized Person of Foreign LLP. When the total turnover of the LLP is more than Rs 40, 00, 000 or partners’ responsibility for the contribution of more than Rs.25Lakh then LLP Form 8 must be authenticated by the auditor of the LLP or the digital signature of a minimum of two Designated Partners would be enough.

Step by Step Procedure to fill MCA LLP 8 Form

• Download the LLP Form 8 with the instruction kit

• Find out your LLP Identification Number:  LLP Identification Number can be obtained from the website. Write your LLP name and all LLP registered to MCA containing words you have provided LLP Identification number will be displayed. Choose your LLP and get the LLP Identification Number corresponding to it.

• Pre-fill the LLP form-8:  Fill the Year for which this form relates and the Periodicity of the form therefore annual or interim and use pre-fill utility. Then all elements up to Part A point no. 1 will be present automatically. The total monetary value of obligation of Capital Contribution as on the above date will be automatically appearing and it will be according to the LLP Form 11 – Annual Return as filed by you.

• Fill Statement of Account and Statement:  After using the Pre-fill utility then fill the Statement of Accounts, Statement of Income, and Expenditure. Put “0” when there is no amount to mention.

• Mandatory Attachment:  First Attachment – Under Micro, Small and Medium Enterprises Development Act, 2006 is Disclose mandatory attachment. If someone is filing this LLP form 8 for the first time then he/she may not know the purpose of this information here. 

• Signature & Pre scrutiny:  Fill in all the details of the person who is signing the form. To check the form utility if any more information is required then he/ she filled it out and place the digital signature of the person who certified the furnished details. On no error message, place the digital signature of a person who is verifying the furnished details. If everything is correct then the window saying “No Pre scrutiny errors have been found” will be displayed on the screen.

• Login to MCA portal:  Log in to MCA Portal for uploads your LLP Form 8. You can log in with the same ID and password as you use for the company filing LLP Form. Before uploading the form be sure that the professional and director whose digital signatures are affixed on the form are registered on the MCA portal also.

• Upload e-Form:  After login, click on the button to upload e-Form. After that, you will be asked to upload the LLP form 8.  Select your form and upload it.

• Payment:  After the upload of the form, a window asks for payment. Select the mode of payment. On successful payment following message will come and after this challan will be generated. Keep it for your future records. Challan will contain the SRN number also after that it is all done to file the LLP form 8.

eStartIndia will help you file LLP Annual Return Form 8 from the comfort of your home.

Author:

Radhika Punani
Ambala
I am Radhika from Ambala city. I qualified LLM from Kurukshetra University and B.A.LLB from Maharishi Markandeshwar University