Auditor Appointment
Chander Pal Singh (PROPRIETOR) (73 Points)
09 August 2018
Can you pls clarify is it compulsory to appoint auditor in LLP where there is no business in first year???
4 Replies
Pranjali
(intern)
(2216 Points)
Replied 09 August 2018
For an LLP, if your turnover doesn't exceed Rs. 40 lakhs in any given year, you are automatically exempted from getting your accounts audited.
Chander Pal Singh
(PROPRIETOR)
(73 Points)
Replied 09 August 2018
thanks for the reply.
that is OK for getting audited. my question is for appointment. I am being told that appointment is must even if LLP qualified for exemption.
that is OK for getting audited. my question is for appointment. I am being told that appointment is must even if LLP qualified for exemption.
Pranjali
(intern)
(2216 Points)
Replied 09 August 2018
Oh yes, you're required to appoint an auditor necessarily at least 30 days prior to the end of the financial year.
Chander Pal Singh
(PROPRIETOR)
(73 Points)
Replied 09 August 2018
yes, thats the point I got. You understood my question. Lots of people telling me for last 3days the quantum of audit limit.
well thanks
well thanks
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