Short Summary:

  • LLP Settlement Scheme, 2020 is initiated by Government of India in order to avoid long past pending issues and in order to generate revenue to system.
  • Large Numbers of LLP’s have defaulting in filling of followings forms:

√ LLP-3 viz. LLp Agreement and change theirein

√ LLP-8 Statement of Account and Solvency

√ LLP-11 Annual Return of LLP

  • As per LLP Act if such form not being filed within prescribed time presently LLPs may file such documents on payment of additional fees of  100 per day.
  • Due to ease of doing business CG decide to give ‘onetime relaxation in additional fees to the defaulting LLP’s to make good their default by filling pending documents.

This scheme shall call as “LLP Settlement Scheme, 2020”.

Details of Scheme:

I. This Scheme shall be effective for period 16th March, 2020 to 13th June, 2020

II. Cutoff Date for Late Filing: Defaulting LLP is permitted to file belated documents, which were due to filing till 31st October, 2019.

III. Manner of Additional Fees:

  • Additional fees of Rs. 10/- per day for delay

IV.The defaulting LLP’s which have filed their pending documents till 13th June, 2020 shall not be subjected to prosecution by ROC.

V. Form on which this scheme shall applicable:

  • LLP-3 viz. LLp Agreement and change theirein
  • LLP-4 Notice of appointment, cessation, change in name/ address/ designation of designated partner/ partner
  • LLP-8 Statement of Account and Solvency
  • LLP-11 Annual Return of LLP

VI. Non applicability of Scheme:

This scheme shall not apply to LLPs which has made an application in Form 24 of the Registrar, for striking off its name.

VII. Caution:

On conclusion of Scheme, The Roc shall take action against the LLPs which have

    • Not availed this Scheme, and
    • Are in default in filing of documents as required under act.
S No. QUICK BITES
1. Whether this scheme applicable only on 4 (four) forms of LLP?
This scheme is applicable on form forms of LLP only

  • LLP-3
  • LLP-4
  • LLP-8
  • LLP-11
2. What shall be per day additional fees as per Scheme?
As per scheme per day additional fees shall be Rs. 10/- per day per form.
3. What shall be maximum Additional Fees per form?
Maximum additional fees per form shall be Rs. 5,000/-
4. From which dates LLPs will allow to file forms under this Scheme?
LLPs shall avail this scheme w.e.f. 16th March, 2020 and can file all pending forms till 13th June, 2020
5. What is the cut off dates of forms falling under this scheme?
Cut off date of default of form is 31st October, 2019.

Defaulting LLP is permitted to file belated documents, which were due to filing till 31st October, 2019

Conclusion Remarks

Once you are filing the form, and after submission and creation of SRN No, fees automatically is showing as less amount and one can pay and avail benefit of it.

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