ICAI FAQ’s on LLP Settlement Scheme, 2020
The Ministry of Corporate Affairs has provided a one-time opportunity to the LLPs to make good their default by filing pending documents and to serve as a compliant LLP in future by introducing LLP Settlement Scheme, 2020 vide General Circular No 06/2020 dated 4th March, 2020 which was applicable from 16th March, 2020 to 31st March, 2020.
You May Also Refer: Modified LLP Settlement Scheme, 2020
In continuation of the above Circular dated 4th March, 2020, and in order to support and enable Limited Liability Partnerships (LLPs) registered in India to focus on taking necessary measures to address the COVID-19 threat and to reduce the compliance burden, certain modifications to the above Circular have been made on 30th March, 2020 and it has been decided to be implemented w.e.f 1st April, 2020 to 30th September, 2020.
There are two LLP Settlement Schemes
1. Original Scheme launched on 4th March, 2020 – Applicable from 16th March, 2020 to 31st March, 2020 (both day inclusive)
2. Revised Scheme launched on 30th March, 2020 – Applicable from 1st April, 2020 to 30th September, 2020 (both day inclusive)
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