The Ministry of Corporate Affairs has launched a one time settlement scheme for LLP’s ” LLP Settlement Scheme 2020″ , This scheme allows one time settlement period for LLP such defaulting LLP’s that are not able to file Form3, Form4, Form8 and Form 11 within due date.
Non filing of LLP forms incur Additional fee of Rs. 100 per day with no maximum cap, with this there were lot’s of LLP’s missed the returns and now incurred huge additional fee.
Under the LLP settlement scheme 2020 these LLP can benefit by filing Form 3, Form 4, Form 8 and Form 11 from 16th of March 2020 to 13th of June 2020 with additional fee of Rs. 10 per day subject to maximum Rs. 5000 per form.
The LLP settlement Scheme is applicable to all defaulting LLP’s, for which documents and return which were due for filing till 31st October, 2019.
Under this scheme LLP can file its overdue returns since incorporation, Following forms can be filed under the scheme
(i.) Form-3- Information with regard to limited liability partnership agreement and changes, if any, made therein;
(ii.) Form-4- Notice of appointment, cessation, change in name/ address/ designation of a designated partner or partner and consent to become a partner/ designated partner;
(iii.) Form-8 -Statement of Account & Solvency (Annual or Interim);
(iv.) Form-11- Annual Return of Limited Liability Partnership (LLP).
Under the LLP settlement scheme 2020 these LLP can benefit by filing Form 3, Form 4, Form 8 and Form 11 from 16th of March 2020 to 13th of June 2020 with additional fee of Rs. 10 per day subject to maximum Rs. 5000 per form.