The brief summary of the notification is mentioned below:
|2||Subject||Extension of LLP Settlement Scheme, 2020.|
|4||Applicability|| All LLP having belated documents due for filing till 30th November 2020.
|5||Brief description|| In continuation to this Ministry's General Circular No. 13/2020 dated 30.03.2020 and in the General Circular No. 31/2020 dated 28.09.2020 the scheme was extended till 31st December 2020, it has been decided to extend the date on applicability to defaulting LLP and therefore, in serial number 3, para 8A, sub-para (iii) of the said circular dated 30.03.2020, belated documents due for filing till 30th November 2020 shall be substituted.
All other requirements provided in the said circulars shall remain unchanged.
2. If a statement of account and solvency for the financial year 2019-2020 has been signed beyond the period of six months from the end of financial year but not later than 30th November, 2020, the same shall not be deemed as non-compliance.
|5||Impact||This is welcome move as reducing burden on Professionals as well as businesses.|