Limited Liability partnership which is incorporated in India is required to file statement of Account & Solvency in LLP Form 8 for every financial year.
Form-8 is filled with Registrar of Companies.
All about Form 8:-
It is Basically 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.
Statement of Account & Solvency is prepared by the LLP’s Designated Partners and filed within 30 days from the end of Six months of the financial year to which statement of account relate, with ROC.
All about Form 11:-
Form 11 is annual return containing number of partners, total contribution received by all partners, summary of partners etc.
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 with ROC is 30th may for each year.
If LLP fails to file Form 11 the designated partners shall penalize with fine which shall not be less than Rs. 25000 but which may extent to Rs 5 lakh.