Timeline for filing of belated documents extended to 30th November 2020 due to Extension of LLP Settlement Scheme, 2020



Quick Summary
The Institute of Chartered Accountants of India has announced an extension for filing belated documents, including financial statements for the financial year 2019-20. This extension, now until 30th November 2020, is a result of the Ministry of Corporate Affairs considering requests to ease business operations. The move aims to help corporates and professionals facing difficulties with their day-to-day activities and completing their accounts.

Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India
12th November, 2020

ANNOUNCEMENT

Sub: Timeline for filing of belated documents has been extended upto 30th November, 2020 due to Extension of LLP Settlement Scheme, 2020.

Considering the difficulties faced by the corporates and professionals due to the continued disruption in certain parts of the country and to provide greater Ease of doing business, the Institute of Chartered Accountants of India requested the Government of India to enhance the timelines of the stakeholders which are still struggling with their day to day activities of completing their books of accounts appropriately.

In this regard, we are happy that the Ministry of Corporate Affairs, GOI has considered the request by the Institute of Chartered Accountants of India and issued General Circular 37/2020 dated 09.11.20 where the timeline for filing belated documents has been extended from 30th September, 2020 to 30th November, 2020. Accordingly, extension is also available for furnishing of financial statement for the F.Y. 2019-20.

Also, the statement of account and solvency for the financial year 2019-2020 which has been signed beyond the period of six months from the end of financial year but not later than 30th November, 2020, will not be deemed as non-compliance.

Circular is available on the following link:
http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.37_09112020.pdf

Members may note the above.

With festive greetings,
 

Chairman
Corporate Laws & Corporate Governance Committee, ICAI
Vice Chairman
Corporate Laws & Corporate Governance Committee, ICAI

FAQ :

The deadline for filing belated documents has been extended to 30th November 2020.

The deadline has been extended due to the Extension of the LLP Settlement Scheme, 2020, and to address difficulties faced by corporates and professionals.

Yes, the extension is also available for furnishing financial statements for the financial year 2019-20.

The statement of account and solvency for FY 2019-20, signed by 30th November 2020, will not be considered non-compliant, even if signed after the usual six-month period.

The Institute of Chartered Accountants of India requested the Government of India to enhance the timelines.




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