Every LLP is required to file ‘Statement of Accounts & Solvency’ in prescribed LLP Form 8 which contains a declaration on the state of solvency of the LLP by the designated partners and also information related to statement of assets and liabilities and statement of income and expenditure of the LLP. This form has to be filed by the LLP on an annual basis.
1. Collation of Following details: a. Details of turnover. b. Details of obligation of contribution. c. Details of assets and liabilities. d. Details of income and expenditure. 2. Preparation of LLP Form 8. In case total turnover of the LLP/ FLLP exceeds Rs. 40 lakhs or partner’s obligation of contribution exceeds Rs. 25 lakh, then the eForm should be certified by the auditor of the LLP/ FLLP. In other cases, the eForm is to be certified by the Designated Partner in case of LLP and by Authorised Representative in case of FLLP.
1. Disclosure under Micro, Small and Medium Enterprises Development Act, 2006 is a mandatory attachment. 2. In case contingent liabilities exist, statement of contingent liabilities to be attached. 3. Any other information can be provided as an optional attachment.