• Notification Date: 25-02-2022
• Notification No: N/A

MCA Introduces FAQs on LLP E-filing Services

The Ministry of Corporate Affairs (MCA) has introduced a new service on the e-filing portal of the website. The e-filing services on the official website of MCA will include a set of Frequently Asked Questions (FAQs).

At present, the E-filing services on the MCA portal are being modified. They are being migrated to the MCA V3 portal. The other services will be available at the MCA V2 portal as before.

Under the new FAQ feature on the portal, the users will be able to add multiple roles to their profiles. But this feature is not available for everyone. Only the Registered users and Business users except Company or LLP users can enjoy this feature under the FAQ option of the MCA portal.

According to the rule, only a single user will be able to use the FAQ service on the platform at a time through the mobile app or the website. If a user does not login into their account for a period of 60 days consecutively, then the account of the user will be automatically deactivated by MCA. The user will be sent an email on the registered email id mentioning the deactivation of their account on the portal.

If the user wishes to re-activate the account, they will have to reset their password by choosing the “Forgot Password” option on the MCA portal.

The new MCA guidelines have made it clear that the LLP firms are required to file LLP Webform 8 which is the Statement of Accounts and Solvency, as well as the LLP Webform 11 which is the Annual Return file every year.

The ‘Annual Return’ file is required to be submitted by the LLP firms within 60 days of the closure of the financial year. The Statement of Accounts and Solvency is required to be filed within 30 days from the end of six months of the financial year. All the Limited Liability Partnership firms are required to maintain a uniform financial year ending on 31st March every year.

The Limited Liability Partnership firms are required to file their ‘Statement of Accounts and Solvency’ according to the prescribed LLP webform 8. The webform should contain the declaration on the state of solvency of the LLP by the designated partners of the company. The form should include all the information related to the statement of assets and liabilities of the company. The statement of income and expenditure of the company is required to be mentioned in Webform 8.  

Webform 8 is required to be filed on an annual basis. In case the total turnover of the LLP or FLLP exceeds the limit of Rs.40 lakhs in a year, or the obligations of the contribution of the individual partners surpasses the limitation of Rs.25 lakhs, the company’s web form will have to be certified by an auditor of that particular LLP or FLLP.