Form 8 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Form 8 is the Statement of Account and Solvency that every LLP prepares and files with the Registrar. Section 34 of the LLP Act, 2008 requires it and rule 24 of the Limited Liability Partnership Rules, 2009 prescribes the form, signatures and books behind it. If you want the books closed, the statement prepared and the filing made, our annual filing of LLP team can take it end to end.
Rule 24(4) says every LLP files the Statement of Account and Solvency in Form 8 with the Registrar "within a period of thirty days from the end of six months of the financial year to which the Statement of Account and Solvency relates". It is signed on behalf of the LLP by its designated partners (rule 24(6)), and each designated partner is taken to be a party to its approval unless he shows he took all reasonable steps to prevent it (rule 24(7)). Books of account are preserved for eight years (rule 24(3)). This page explains the Rules as notified in 2009. Forms, fees, thresholds and time limits have been amended since, so check the MCA portal for the current due date.
What the Act and the Rule require
Section 34(2) of the Act says every LLP shall, within a period of six months from the end of each financial year, prepare a Statement of Account and Solvency as at the last day of that year, in the prescribed form, signed by the designated partners. Section 34(3) says it shall be filed with the Registrar every year within the prescribed time, in the prescribed form and manner and with the prescribed fee. Rule 24(4) names the form (Form 8) and the time; rule 24(5) refers to Annexure A for the fee. This page gives no fee amount because the 2009 Annexure A is out of date.
Note the wording. Section 34(2) speaks of preparing the statement "within a period of six months from the end of each financial year", while rule 24(4) speaks of filing "within a period of thirty days from the end of six months of the financial year". The source does not work out a calendar date for either; confirm the current due date on the MCA portal rather than counting it yourself from the 2009 words.
| Point | What is printed (as notified in 2009) | Provision |
|---|---|---|
| Form | Form 8, Statement of Account and Solvency | Rule 24(4) |
| Preparing the statement | Within six months from the end of each financial year | Section 34(2) |
| Filing with the Registrar | Within thirty days from the end of six months of the financial year | Rule 24(4) |
| Signed by | The designated partners, on behalf of the LLP | Rule 24(6), (7) |
| Fee | As in Annexure A (no amount given here) | Rule 24(5) |
| Books preserved | Eight years from the date on which they are made | Rule 24(3) |
Books of account first (rule 24(1) to (3))
A Statement of Account and Solvency can only be as good as the books. Under rule 24(1) the books must be sufficient to show and explain the LLP's transactions, disclose with reasonable accuracy at any time the financial position, and enable the designated partners to ensure the Statement complies with the Act. Rule 24(2) says they shall contain:
- particulars of all sums received and expended and the matters they relate to;
- a record of the assets and liabilities;
- statements of cost of goods purchased, inventories, work-in-progress, finished goods and cost of goods sold; and
- any other particulars the partners may decide.
Rule 24(3) requires the books to be preserved for eight years from the date on which they are made. Section 34(1) adds that books are kept on a cash or accrual basis and according to the double entry system. For the practical side see maintenance of books and records by an LLP.
Who signs, and the designated partners' exposure
Rule 24(6) says the Statement is signed on behalf of the LLP by its designated partners. Rule 24(7) goes further: it is signed by the designated partners "and each designated partner shall be taken to be a party to its approval unless he shows that he took all reasonable steps to prevent their being approved and signed". The rule does not say how many designated partners must sign; it says "the designated partners".
Example. Imran, a designated partner, disagrees with a figure but takes no step to stop the Statement being signed. Under rule 24(7) he is taken to be a party to its approval.
Audit and the third proviso to rule 24(8)
Rule 24(8) says the accounts of every LLP shall be audited in accordance with the Rules. The first proviso, as notified in 2009, exempted an LLP whose turnover did not exceed forty lakh rupees in any financial year, or whose contribution did not exceed twenty-five lakh rupees. These figures have been revisited since 2009, so do not rely on them today; check the current limits on the MCA portal. The second proviso lets the partners of an exempt LLP decide to have the accounts audited anyway.
The third proviso links audit to Form 8: where the partners of such an LLP do not decide for audit, the Statement of Account and Solvency shall include a statement by the partners that they acknowledge their responsibilities for complying with the Act and the Rules on books of account, and a certificate in the form specified in Form 8. The rest of rule 24 (qualification, appointment, remuneration, removal and resignation of auditors, sub-rules (9) to (19)) is covered in rule 24: audit of LLP accounts and audit requirements under the LLP Rules: forty lakh and twenty-five lakh. Section 34(4) of the Act is the source for audit.
Step by step
- Close the books to the standard in rule 24(1) and (2).
- Decide on audit under the limits in force today. If audit applies, only a Chartered Accountant in practice may be appointed (rule 24(9)).
- Prepare the Statement as at the last day of the financial year (section 34(2)).
- Obtain the designated partners' signatures (rule 24(6)).
- File Form 8 within the period currently notified, with the fee (rule 24(4), (5)).
- Keep the books for eight years (rule 24(3)).
What happens on a default
The LLP (Amendment) Act, 2021 substituted sub-sections (5) and (6) of section 34 with a per-day penalty for a failure under sub-section (3) and a fine for failures under sub-sections (1), (2) and (4). No amounts are quoted here; see section 34: books of account, statement of solvency and audit. Rule 24 itself prints no consequence for a late filing; the consequence sits in the Act.
Common mistakes
- Treating Form 8 as optional for an LLP that has no business or no turnover. Rule 24(4) says "every limited liability partnership".
- Filing the Statement without all designated partners' signatures.
- Confusing Form 8 with Form 11, the annual return. See Form 11.
- Throwing away books before eight years, or relying on the 2009 audit limits.
Need help with Form 8?
Our annual filing of LLP service reviews the books, prepares the Statement of Account and Solvency for the designated partners' signatures and files Form 8 on the portal.
Key takeaways
- Form 8 is the Statement of Account and Solvency (rule 24(4); section 34(3)).
- Signed by the designated partners (rule 24(6)); each is taken to approve it (rule 24(7)).
- Books of account are preserved for eight years (rule 24(3)).
- Audit exemption limits in rule 24(8) are as notified in 2009 only; check the current limits and due date.
Read next
- Rule 24: books of account and statement of account and solvency
- Statement of account and solvency: Form 8 filing
- Section 34A: accounting and auditing standards
- Financial disclosures and accounts of an LLP
Disclaimer: Based on the Limited Liability Partnership Rules, 2009 as notified on 1 April 2009 (G.S.R. 229(E)) and the LLP Act, 2008, as consulted on 2 October 2026. The Rules have been amended since, so current forms, fees, thresholds and time limits must be checked on the MCA portal. This article is general information, not legal advice.