ICSI Requests for Extension of Time Limit for LLP Audit and LLP Filing

2 minutes, 0 seconds Read

The Institute of Company Secretaries of India (ICSI) requests for an extension of the time limit for preparing the Statement of Account and Solvency and for getting the accounts audited in LLPs and subsequent filing thereof.

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 time limit for preparing the Statement of Account and Solvency and for getting the accounts audited in LLPs and subsequent filing thereof -reg.

Respected Sir,

We would like to draw your kind attention to the provisions of Section 34 of the Limited Liability Partnership Act, 2008 read with Rule 24 of the Limited Liability Partnership Rules, 2009 which relates to the ‘Maintenance of books of account, other records, and audit, etc.

As per sub-section (2) of section 34, every limited liability partnership (LLP), within a period of six months from the end of each financial year, is required to prepare a Statement of Account and Solvency for the said financial year as at the last day of the said financial year in the prescribed form and such statement shall be signed by the designated partners of the LLP.

Further as per rule 24(8), the accounts of every LLP, other than an LLP whose turnover does not exceed, in any financial year, forty lakh rupees, or whose contribution does not exceed twenty-five lakh rupees, is required to be audited in accordance with the rules.

In terms of sub-section (3) of section 34, every LLP shall file the Statement of Account and Solvency in Form 8 with the Registrar, within a period of 30 days from the end of six months of the financial year to which the Statement of Account and Solvency relates.

It is informed that LLPs are facing practical issues in preparing a Statement of Account and Solvency. Also getting the accounts audited has become a challenge due to the COVID scenario.

With a view to provide ease to the LLPs, it is submitted that the time limit for preparing the Statement of Account and Solvency and for getting the accounts audited and the subsequent filing thereof be kindly extended for a period of 30 days.

We hope that the above submission would be considered favourably. We shall be pleased to provide any further information in this regard on hearing from your goodself.

Thanking You,
Yours faithfully

(CS Asish Mohan)
Secretary

Source: ICSI

For Latest Updates & Learning Join Our YouTube Channel: Join Now

author

EduTaxTuber Team

We are here to help for every updates related to everything...👍📙👍📗

Similar Posts

Leave a Reply

England vs Senegal: FIFA World Cup 2022 No Curfew in Mumbai: Section 144 Imposed to ensure Peace Elon Musk suspends Kanye West Twitter Account for inciting violence Pak Vs England: England vs Pakistan FIFA World Cup 2022: CBDT Notifies Income Tax Exemption
Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

Powered By
Best Wordpress Adblock Detecting Plugin | CHP Adblock