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This is with reference to Annual filing of LLP (Form 8 and 11) for the financial year-end 31st March, 2013 with Registrar of Companies.
The Ministry of Corporate Affairs has issued general notice for filing Form-8 (Statement of Account & Solvency) for the Financial Year ended 31-03-12 last year which is as follows:
Notice for filing Form-8 (Statement of Account & Solvency) for the Financial Year ended 31-03-2012
LLPs registered up to 30-September-2011 — have to mandatorily close their financial year as on 31-03-2012 and file Form-8 by 30th October-2012.
LLPs registered from 01-10-2011 to 31-03-2012 — have option either to close financial year as on 31-03-2012 or 31-03-2013 and to file both Form-8 & 11 accordingly.
Due date of filing form 8 is 30th October for each year.
Note: If LLP fails to file Form-8 within prescribed time, an additional fees of Rs. 100/- is payable per day till date of filing.
What is Form 8 ?
It is the declaration given by all Designated Partners of LLP that whether they are able to pay its debts in full as they become due in the normal course of business or not. LLP firm shall be required to prepare Statement of Accounts and Solvency which shall be filed by all designated partners within 30 days along with prescribed fees, from the end of six months of the financial year to which statement of accounts relate with Registrar of Companies (RoC).
Contents of Form 8
Part A- Statement of Solvency
Part B – Statement of Accounts, Statement of Income and Expenditure
Attachments – Disclosure under Micro, Small and Medium Enterprises Development Act,2006.
Form 8 is to be by signed digitally by two Designated partners and certified by Chartered Accountant(in Whole time practice)/ Company Secretary(in Whole time practice)/ Cost Accountant (in Whole time practice).
According to Section 34 of Limited Liability Act, 2008 read with LLP rules, every LLP shall file Statement of Accounts and solvency under e-form 8 with prescribed fee within a period of thirty days from the end of six months of the financial year to which such statement relates.
What is Form 11 ?
Form 11 is Annual Return containing number of partners, total contribution received by all partners, details of partners, details of body corporate as partners, summary of partners.
Every LLP shall file Annual Return within sixty days from the closure of the financial year along with prescribed fees.
Due date of filing Form 11 is 30th May for each year.
Note : If LLP fails to file Form-11 within prescribed time, the designated partners shall be liable to be punishable with fine which shall not be less than Rs. 25000 but which may extend to five lakh rupees.
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