The Institute of Company Secretaries of India has formally requested the Ministry of Corporate Affairs (MCA) to extend the deadline for Limited Liability Partnerships (LLPs) to prepare and file their Statement of Account and Solvency. The current regulations require LLPs to prepare this statement within six months of the financial year-end and file it within 30 days thereafter, with audits required for most LLPs. Practical difficulties, exacerbated by the COVID-19 pandemic, have made compliance challenging.
The Institute of Company Secretaries of India has written a representation letterrequestingfor an extension of time limit for preparing the Statement of Account and Solvency and for getting the accounts audited in LLPs and subsequent filing thereof. Read the official representation letter below:
MCA: 2021
Shri Rajesh Verma,
IAS Secretary
Ministry of Corporate Affairs
Government of India
Shastri Bhawan
Dr. Rajendra Prasad Road
New Delhi -110001
Subject: Request for extension of tim
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FAQ :
The Institute of Company Secretaries of India has made the representation to the MCA.
The representation requests an extension of time for LLPs to prepare, get accounts audited, and file their Statement of Account and Solvency.
LLPs must prepare a Statement of Account and Solvency within six months of the financial year-end and file it in Form 8 within 30 days after that period. Audits are also required for most LLPs.
LLPs are facing practical issues in preparing the Statement of Account and Solvency and in getting their accounts audited, particularly due to the COVID-19 scenario.
The Institute of Company Secretaries of India has requested an extension of 30 days.