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Limited Liability Partnerships (LLPs) in India are required to file LLP Form 8, the Statement of Account and Solvency, annually to comply with Ministry of Corporate Affairs regulations. This form details the LLP's financial position and solvency status and must be submitted within 30 days after the first six months of the financial year.
Table of Contents
What is the purpose of Form 8?
Form 8 LLP is an annual return that discloses an LLP's financial position and solvency. It is mandatory under the Limited Liability Partnership Act 2008, to promote transparency and ensure that LLPs meet their financial obligations. By filing Form 8 LLP, an LLP confirms its ability to pay debts as they become due in the normal course of business.
The form provides the MCA with an overview of the LLP's assets, liabilities, and cash flows, enabling them to monitor the financial health of the LLP. Banks, creditors, and other stakeholders may also refer to an LLP's Form 8 filings to assess its creditworthiness and make informed decisions.
LLP Form 8 - Statement of Account & Solvency
LLP Form 8, or the Statement of Account & Solvency, is an annual filing that every LLP must submit to the MCA, regardless of its size, turnover, or profitability. The form consists of two main parts:
- Part A: Statement of Solvency
- Part B: Statement of Account (Financial Statements)
The Statement of Solvency is a declaration by the LLP's designated partners confirming that the LLP is able to pay its debts in full as they become due. This section must clearly disclose any insolvency or inability to pay debts.
The Statement of Account includes the LLP's financial statements, such as the balance sheet, profit and loss account, and cash flow statement. These statements provide a true and fair view of the LLP's financial position and performance.
Timely filing of Form 8 LLP is crucial to avoid penalties and maintain compliance with the LLP Act. The due date for filing falls on October 30th each year for the financial year ending March 31st.
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Laws Governing Form 8
The filing of Form 8 LLP is governed by the following laws:
- Section 34(2) and 34(3) of The Limited Liability Partnership Act, 2008
- Rule 24 of The Limited Liability Partnership Rules, 2009
These laws require all LLPs to file Form 8 annually and prescribe the format, disclosures, and timelines for filing the form. Non-compliance with these provisions can result in penalties and legal action against the LLP and its partners.
Components of Form 8
LLP Form 8 consists of two main sections:
- Part A - Statement of Solvency
- Declaration by the designated partners about the LLP's ability to meet its debts and liabilities
- Disclosure of any insolvency or inability to pay debts
- Part B - Statement of Accounts
- Balance sheet as of the end of the financial year
- Profit and loss account for the financial year
- Cash flow statement for the financial year
- Notes to accounts and significant accounting policies
- Details of remuneration to designated partners
- Auditor's report, if applicable
LLPs must ensure that the financial statements are prepared in accordance with the applicable accounting standards and present a true and fair view of the state of affairs. Depending on the LLP's turnover and contribution, the financial statements may need to be audited before filing.
The Due Date for Filing LLP Form 8
LLP Form 8 must be filed annually, within 30 days from the end of six months of the financial year to which the Statement of Account and Solvency relates. For LLPs following the April-March financial year, the due date for filing Form 8 LLP is October 30th of each year.
It is essential to note that this filing requirement applies to all LLPs, irrespective of their size, turnover, or commencement of business activities. Even inactive LLPs must file Form 8 to avoid penalties.
Failure to file the form by the due date attracts additional fees and penalties, which increase with the delay. LLPs must prioritise timely filing to maintain legal compliance and avoid adverse consequences.
Related Read: What is LLP Form 11?
Required Details for Filing Form 8
To file LLP Form 8, the following details are required:
- Limited Liability Partnership Identification Number (LLPIN)
- Name and registered address of the LLP
- Details of designated partners
- Jurisdiction of Police Station for the registered office
- The financial year to which the Statement of Account and Solvency relates
- Statement of Assets and Liabilities as at the end of the financial year
- Income and Expenditure Statement for the financial year
- Details of charges created, modified or satisfied during the year
- Details of penalties and compounding fees paid during the year
Attachments Required with LLP Form 8
- Mandatory attachment:
- Details of disclosures under the Micro, Small and Medium Enterprises Development Act, 2006
- Conditional attachment:
- Statement of contingent liabilities, if applicable
- Optional attachments:
- Any other relevant information or documents
Small LLP
The concept of "Small LLP" was introduced by the LLP (Amendment) Act, 2021 to reduce the compliance burden and costs for smaller LLPs. An LLP is classified as a Small LLP if it meets the following criteria:
- The contribution does not exceed ₹25 lakhs (or higher amount as notified by the Central Government, up to a maximum of ₹5 crores)
- The turnover in the immediately preceding financial year does not exceed ₹40 lakhs (or higher amount as notified by the Central Government, up to a maximum of ₹50 crores)
Small LLPs enjoy several benefits, such as:
- Lower filing fees for Form 8 LLP and other forms
- Relaxed penalties for non-compliance
- Self-certification of documents by designated partners without the need for professional certification
However, Small LLPs must still comply with the filing deadlines and other requirements under the LLP Act. Their classification as Small LLPs is based on self-declaration, and any false or incorrect declaration can attract penalties.
MCA Fees for filing Form 8
Inadequate or incorrect payment of fees can result in the form being marked as defective, requiring re-submission with additional fees.
Related Read: LLP Registration Fee in India
Additional Fee (Penalty) for Filing Form 8
Late filing of Form 8 LLP attracts additional fees, which vary based on the period of delay and the type of LLP (Small LLP or Other LLP). The additional fees for late filing are as follows:
LLPs should strive to file the form within the due date to avoid these additional fees and maintain compliance with the LLP Act.
Certification Requirements for Form 8
Form 8 LLP must be certified by the following individuals before filing:
- Minimum two designated partners of the LLP
- A practising professional (Chartered Accountant, Company Secretary, or Cost Accountant)
The designated partners must sign the form, declaring that the information provided is true and correct to the best of their knowledge. The practising professional must certify that the financial statements and other particulars in the form agree with the LLP's books of account and records.
Small LLPs are exempted from the professional certification requirement, and the designated partners can self-certify the form. However, it is advisable to seek professional assistance to ensure accurate and compliant filing.
Procedure to file Form 8
The procedure to file LLP Form 8 involves the following steps:
- Access the MCA portal and log in using the LLP's credentials
- Navigate to the "LLP Forms Download" section and select "Form 8"
- Fill in the required details and attach the necessary documents
- Save the form as a draft if required, or submit the form
- Generate and note down the Service Request Number (SRN) for future reference
- Affix Digital Signature Certificates (DSCs) of the designated partners and practising professional
- Upload the signed form on the MCA portal
- Make the payment of filing fees within 15 days of SRN generation
- Upon successful payment, an acknowledgement receipt will be generated
LLPs should ensure that all the steps are completed within the prescribed timelines to avoid any delays or rejection of the filing.
Annual filings for LLP
Apart from Form 8 LLP, LLPs are required to file other annual forms to comply with the MCA regulations. These include:
- LLP Form 11 (Annual Return)
- Income Tax Return (ITR) 5
Timely filing of these forms is crucial to avoid penalties, which can be significant—up to ₹5 lakh for non-compliance. Although LLPs have fewer compliance requirements compared to private limited companies, failure to meet these obligations can lead to serious consequences. Maintaining proper books of account is essential for facilitating accurate and timely filings.
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Example of LLP Form 8 Filing
Let's consider a simple case study to understand the filing of LLP Form 8:
ABC LLP, with total assets of ₹5 lakhs and liabilities of ₹2 lakhs, needs to file its Statement of Account and Solvency for the financial year 2024-25.
The LLP follows these steps to fill the form:
- The designated partners prepare the financial statements, including the balance sheet and profit & loss account.
- They fill out LLP Form 8, providing the required details and attaching the necessary documents.
- The form is then certified by the designated partners and a Chartered Accountant (CA).
- The LLP files the form online through the MCA portal, affixing the Digital Signature Certificate (DSC) and making the requisite payment.
- The form is submitted within the due date of October 30th, 2025, to avoid any late fees or penalties.
MCA LLP Compliance Chart
The following chart summarises the key compliance requirements for LLPs in India:
LLPs must prioritise these filings and ensure timely submission to maintain compliance with the MCA and Income Tax Department regulations.
Frequently Asked Questions:
Private Limited Company
(Pvt. Ltd.)
- Service-based businesses
- Businesses looking to issue shares
- Businesses seeking investment through equity-based funding
Limited Liability Partnership
(LLP)
- Professional services
- Firms seeking any capital contribution from Partners
- Firms sharing resources with limited liability
One Person Company
(OPC)
- Freelancers, Small-scale businesses
- Businesses looking for minimal compliance
- Businesses looking for single-ownership
Private Limited Company
(Pvt. Ltd.)
- Service-based businesses
- Businesses looking to issue shares
- Businesses seeking investment through equity-based funding
One Person Company
(OPC)
- Freelancers, Small-scale businesses
- Businesses looking for minimal compliance
- Businesses looking for single-ownership
Private Limited Company
(Pvt. Ltd.)
- Service-based businesses
- Businesses looking to issue shares
- Businesses seeking investment through equity-based funding
Limited Liability Partnership
(LLP)
- Professional services
- Firms seeking any capital contribution from Partners
- Firms sharing resources with limited liability
Frequently Asked Questions
What is the Statement of Solvency of LLP?
The Statement of Solvency is a declaration by the designated partners of an LLP, stating that the LLP is able to pay its debts in full as they become due in the normal course of business. It is a part of Form 8 LLP and must be filed annually with the MCA.
Is Form 8 mandatory for LLP?
Yes, Form 8 LLP is a mandatory annual filing for all LLPs registered in India, irrespective of their size, turnover, or commencement of business activities. Failure to file the form within the due date can result in penalties and legal action against the LLP and its partners.
When shall the Statement of Account and Solvency be filed by every foreign LLP with registrar?
Every foreign LLP must file the Statement of Account and Solvency in Form 8 LLP with the Registrar within 30 days from the end of six months of the financial year to which the Statement of Account and Solvency relates.
Is LLP liable to maintain books of accounts?
Yes, every LLP is required to maintain proper books of account as per Section 34 of the Limited Liability Partnership Act, 2008. The books of account must be kept at the registered office of the LLP and should give a true and fair view of the state of affairs of the LLP.
Nipun Jain is a seasoned startup leader with 13+ years of experience across zero-to-one journeys, leading enterprise sales, partnerships, and strategy at high-growth startups. He currently heads Razorpay Rize, where he's building India's most loved startup enablement program and launched Rize Incorporation to simplify company registration for founders.
Previously, he founded Natty Niños and scaled it before exiting in 2021, then led enterprise growth at Pickrr Technologies, contributing to its $200M acquisition by Shiprocket. A builder at heart, Nipun loves numbers, stories and simplifying complex processes.
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