{"id":37212,"date":"2021-10-28T15:37:56","date_gmt":"2021-10-28T10:07:56","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=37212"},"modified":"2021-10-28T17:03:17","modified_gmt":"2021-10-28T11:33:17","slug":"mca-update-the-last-date-of-filing-form-8-llp-is-now-30-12-2021","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/mca-update-the-last-date-of-filing-form-8-llp-is-now-30-12-2021\/","title":{"rendered":"MCA Update &#8211; The last date of filing Form 8 LLP is now 30.12.2021"},"content":{"rendered":"\n<p class=\"has-drop-cap\">In view of representation received by MCA from LLPs, the authority has decided to extend the timeline for filing Form 8 up to 31st Dec 2021 without imposing additional fees. The notification came as a relief for financially aggrieved LLPs who have served a tough time during the Covid phase. Further, this decision would enable these entities to skip additional fees in case of delayed filing of Form 8 LLP. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/mca-update-the-last-date-of-filing-form-8-llp-is-now-30-12-2021\/#What_is_Form_8_under_LLP_Act\" >What is Form 8 under LLP Act?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/mca-update-the-last-date-of-filing-form-8-llp-is-now-30-12-2021\/#Why_LLPs_are_required_to_file_form-8_the_Statement_of_Account_Solvency\" >Why LLPs are required to file form-8 (the Statement of\nAccount &amp; Solvency)?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/mca-update-the-last-date-of-filing-form-8-llp-is-now-30-12-2021\/#What_penalties_are_levied_for_non-filing_of_Form_8_in_general\" >What penalties are levied for non-filing of Form 8 in\ngeneral?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/mca-update-the-last-date-of-filing-form-8-llp-is-now-30-12-2021\/#What_are_some_common_inclusions_of_form_8_for_LLP\" >What are some common inclusions of form 8 for LLP?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/mca-update-the-last-date-of-filing-form-8-llp-is-now-30-12-2021\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Form_8_under_LLP_Act\"><\/span>What is Form 8 under LLP Act? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Form 8 refers to a Statement of Account &amp; Solvency. It must\nreflect the financial transactions that took place during the financial year\n&amp; also financial standing during the year. Additionally, the LLP must also\ndeclare; the turnover, whether it is higher or less than Rs 40 lakh. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_LLPs_are_required_to_file_form-8_the_Statement_of_Account_Solvency\"><\/span>Why LLPs are required to file form-8 (the Statement of\nAccount &amp; Solvency)?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>All <a href=\"https:\/\/corpbiz.io\/llp-registration\"><strong>registered LLPs<\/strong><\/a> are mandated to have their books of accounts in place &amp; fill in data w.r.t the profit made, &amp; other financial data concerning to business, &amp; declare it Form-8, every year. Form-8 must enclose the signature of designated partners &amp; validated &amp; authenticated by the certified CA or CS. Those who do not file Form-8 in the given due date shall be liable to pay the penalty of Rs 100\/day. Generally, the due date of filing form 8 on MCA\u2019s portal is Oct 30 of every financial year. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_penalties_are_levied_for_non-filing_of_Form_8_in_general\"><\/span>What penalties are levied for non-filing of Form 8 in\ngeneral? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A penalty of Rs.&nbsp;100 per day would be imposed on the LLP\nresponsible for the late filing of form 8 on the MCA\u2019s portal. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_some_common_inclusions_of_form_8_for_LLP\"><\/span>What are some common inclusions of form 8 for LLP? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Form-8 generally referred to a Statement of Account and Solvency. It\nmust reveal the financial transactions that occurred in the financial year\n&amp; also the financial position during the year.&nbsp; The common details that an LLP is liable to\ndeclare in form 8 include; <\/p>\n\n\n\n<ul><li>Gross turnover; whether it is above or lower than Rs 40 lakh;<\/li><li>Assets <\/li><li>Liabilities (including unsecured loan and secured loan); <\/li><li>Contribution received <\/li><li>Investments details<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span> Conclusion  <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Since Form-8 serves as a proclamation of Account &amp; Solvency of an LLP, it must enclose the digital signature of the partner of the firm. The Form 8 filing is a legal compulsion for LLPs whose aggregate turnover is less than or equal to 40 lakh rupees or partner\u2019s obligations is lower than or equal to Rs 25 lakhs <\/p>\n\n\n\n<p>Form-8 acts as a legal proclamation of account and solvency which reveals the financial standing of the LLP for the given financial year. The covid phase has dented the ability of LLPs to address various legal obligations, including the filing of Form-8.\u00a0 In view of this, the <em><strong>Ministry of Corporate Affairs<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Ministry_of_Corporate_Affairs\"><em><strong>[1]<\/strong><\/em><\/a><\/sup> (MCA) has decided to extend the filing date for the same and also mitigate the requirement of furnishing the additional charges for late filing. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important\"><a href=\"https:\/\/corpbiz.io\/learning\/apply-for-llp-registration-in-india\/\">How to Apply for LLP Registration in India <\/a><\/mark><\/p>\n\n\n<a href=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/10\/LLPGeneralCircularNo16_26102021.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">LLPGeneralCircularNo16_26102021<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In view of representation received by MCA from LLPs, the authority has decided to extend the timeline for filing Form 8 up to 31st Dec 2021 without imposing additional fees. The notification came as a relief for financially aggrieved LLPs who have served a tough time during the Covid phase. Further, this decision would enable [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":37248,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[153],"tags":[2009],"acf":{"service_id":"283"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":4904,"readingTime":2,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/37212"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=37212"}],"version-history":[{"count":40,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/37212\/revisions"}],"predecessor-version":[{"id":37260,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/37212\/revisions\/37260"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/37248"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=37212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=37212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=37212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}