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What is “Statement of Accounts and Solvency” and whether it has a prescribed format?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

a) A “Statement of Accounts and Solvency” in prescribed form shall be filed by every LLP with the Registrar every year. sub-section (3) of section 34. b) The same is to b e filed in e-form - LLP8 (Due Date Form Filling - 30th October)

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Dear Friend, 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. Form – 8 is a declaration given by all the 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. For the purposes of sub-section (3) of section 34, every limited liability partnership shall file the Statement of Account and Solvency in Form 8 with the Registrar, within a period of thirty days from the end of six months of the financial year to which the Statement of Account and Solvency relates. Content of Form 8 Part A- Statement of Solvency Part- B- Statement of Account, Statement of Income & Expenditure Form- 8 is to be signed by two Designated Partners and certified by CS, CA, CWA (in Whole Time Practice).

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

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.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

What is “Statement of Accounts and Solvency” and whether it has a prescribed format? 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. **STATEMENT OF ACCOUNT & SOLVENCY -** a) A “Statement of Accounts and Solvency” in prescribed form shall be filed by every LLP with the Registrar every year. sub-section (3) of section 34. b) The same is to b e filed in e-form - LLP8 (Due Date Form Filling - 30th October) **What is Form – 8?** It is declaration given by all the 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. For the purposes of sub-section (3) of section 34, every limited liability partnership shall file the Statement of Account and Solvency in Form 8 with the Registrar, within a period of thirty days from the end of six months of the financial year to which the Statement of Account and Solvency relates. **Content of Form 8 Part A-** Statement of Solvency Part- B- Statement of Account, Statement of Income & Expenditure Form- 8 is to be signed by two Designated Partners and certified by CS, CA, CWA (in Whole Time Practice).

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

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. Thanks

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