The Ministry of Corporate Affairs (MCA) has been at the forefront in providing relief to the professionals and corporates. The LLP Settlement Scheme, 2020 launched by MCA, extended till 31 December, 2020 has been availed by many stakeholders, provided much awaited relief and reduced the financial burden in the difficult times.
The ICSI, while pointing out the practical difficulties wrote that many of the LLPs which have availed the benefit of the scheme, whereas, there are many LLPs who on account of pandemic and challenges related thereto are yet to file the e-form, P -8 (Statement of Accounts and Solvency) and c-form 1.1, P- ll (Annual Return).
It was further pointed out that the timelines for filing of returns by other regulatory regimes such as Income tax and GST were also extended upto 31 December, 2020. There are many companies and professionals who have been engaged in necessary filings under the aforesaid schemes and in completing the assignments under other regulatory regimes such as Income Tax and GST.
Therefore, the ICSI in the view of practical difficulties faced by stakeholders during the pandemic, requested the Government to consider providing extension of the timelines for filing of e-form 8 and c-form 11 pertaining to financial year 2019-20 till 31 March, 2021.Subscribe Taxscan AdFree to view the Judgment