Form 8
What Form 8 means, where you will meet it and what it means for your business.
DefinitionForm 8 is the Statement of Account and Solvency that every LLP files with the MCA by 30 October, declaring its financial position at 31 March and that it can pay its debts.
Form 8 is the LLP's version of a company's financial statements filing. It carries the balance sheet and income statement, a solvency declaration by the designated partners, and disclosure of contingent liabilities. It must be filed within 30 days of six months after the financial year end, so by 30 October. Two designated partners sign it with their DSCs, and it is certified by a practising professional. An audit is attached only if turnover exceeded ₹40 lakh or contribution exceeded ₹25 lakh; otherwise the partners self-certify. You meet it every October, even in a dormant year. What it means for you: keep the books ready by September, because the late fee rises with the delay and unfiled Form 8s block conversion, closure and often bank credit facilities.
Where you will meet this term
- Limited Liability PartnershipFor two or more partners running a services or professional firm who want limited liability with light compliance.from ₹3,999
- Accounting & MISFounders who want the books closed every month and a one-page MIS they can actually read, with GST and TDS data ready on time.from ₹4,999/month