Statement of Account & Solvency (Form 8)


*The price is exclusive of any amount payable to Government/Regulatory Authorities and GST.

Price 700

Services covered :
  • Filling the Form
  • Preparing Documents to be uploaded along with the form
  • Uploading the form

Documents Required :
  • Bank Statement of LLP for the period and details of transactions
  • Details of cash Transactions (if any)
  • Details of Previous Profit and Loss Account and Balance Sheet (if any)
  • Disclosures under Micro, Small and Medium Enterprises
    Development Act, 2006

FAQ ()

Question : What is Form 8 ?
Answer : All LLPs registered under Limited Liability Act, 2008 have to annually file Form 8.
Statement of Account and Solvency: Form 8 is to be submitted within 30 days from the expiry of six months from the closure of the financial year
Form -8 is filed to report the statement of solvency and statement of accounts and Income and Expenditure for the year and disclosure under MSMED Act, 2006.
The form has to be digitally signed by two designated partners and shall be certified by the practicing professional.
Question : What are the consequences of the non-filing of Form 8?
Answer : Form 8 must be duly filled by the 30th of October. Failure to file can incur a penalty of Rs.100 per day of delay.
LLP fails to file form 8 within the prescribed time, it is liable to pay fine of Rs. 25,000 which may be extended to Rs. 5,00,000. Delayed filing will also lead to severe additional fees and penalties.
Question : What additional information needs to be provided along with Form 8?
Answer : Form 8 is a Statement of Account and Solvency. It must depict the financial transactions undertaken during the financial year and also the financial position during the year. In addition to this, the LLP must also declare:
1. The turnover, whether it is above or below Rs 40 lakh.
2. It must also declare that it has previously filed a statement indicating the creation of charges/modification/satisfaction until the current financial year.
3. Also, declare that the partners/authorized representatives have taken due care and responsibility for the preparation of accounts and proper maintenance of the same.
Question : Who needs to authorise Form 8?
Answer : Form 8 is a form and hence 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 is less than or equal to Rs 40 lakh or partner’s obligation of contribution is less than or equal to Rs 25 lakh. In case the total turnover of the LLP exceeds Rs 40 lakh or partner’s obligation of contribution exceeds Rs. 25 lakh, then Form 8 must be certified by the auditor of the LLP/ FLLP.
Question : Who should file LLP Form 8?
Answer : Every LLP existing or incorporated on or before 30th September of a particular Financial Year shall have to file Form 8.
Question : The signature requirement of Form 8
Answer : Form 8 needs to be digitally signed by a minimum of two designated partners of LLP (authorized representative in case of Foreign LLP).
Form 8 is additionally certified by the Auditor. Such auditor’s certificate is required only when the total turnover of LLP exceeds INR 40 Lakhs or the partner’s obligation of contribution exceeds INR 25 Lakhs. A certification can be done by Practising CA, CS and Cost Accountant
Question : Can Form 8 be revised once it has been filed?
Answer : No. There is no such option to revise Form 8 once filed
Question : How much Filing fees of Form 8 ?
Answer : filing fees based on Contribution of LLP.
1) Up to INR 1 Lakhs -INR 50
2) More than INR 1 Lakhs up to INR 5 Lakhs - INR 150
3) More than INR 10 Lakhs - INR 200
4) In case of Foreign Limited Liability Partnership - INR 1000.