LLP

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pradeep (Querist)
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15 December 2010 Whether LLP are require to maintain Books of Accounts on Mercantile basis on cash basis.

Pls give reasons/supportive answer

CA. R. B. SAH (Expert)
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15 December 2010 LLP IS TAXABLE AS PARTNERSHIP FIRM. BOOKS OF ACCOUNTS CAN BE MAINTAINED EITHER ON THE BASIS OF CASH OR MERCHANTILE SYSTEM.

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