Dear All
A LLP is formed on 01/03/2011. The turnover of business is less than 60 lakhs.
Whether tax audit or any other audit is applicable to LLPS
Please reply
Rajesh Poddar
6 Replies
VIJAYKUMAR
(CHARTERED ACCOUNTANT)
(203 Points)
Replied 23 June 2011
As Far my opinion it is not liable to tax audit.
Vikas
(CA)
(1135 Points)
Replied 24 June 2011
As per Rule 24(8) of the Limited Liability Partnership Rules (LLP Rules), 2008, every
limited liability partnership (LLP) which fulfils the following two criteria is required to get
its accounts audited
a. turnover exceeds Rs.40 lacs in any financial year and
b. whose contribution exceeds Rs.25 lacs in any financial year.
CA Rakesh Garg
(Asst. MGR Taxation)
(510 Points)
Replied 25 June 2011
| Originally posted by : Vikas Vishwakarma | ||
 |
As per Rule 24(8) of the Limited Liability Partnership Rules (LLP Rules), 2008, every limited liability partnership (LLP) which fulfils the following two criteria is required to get its accounts audited a. turnover exceeds Rs.40 lacs in any financial year and b. whose contribution exceeds Rs.25 lacs in any financial year. |
 |
right answer of mr vikas, but a change of turnover from FY 20010-11.
turnover limit is extended to 60 lacs
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 25 June 2011
i thnk tax audit will not apply..wait for experts
Vikas
(CA)
(1135 Points)
Replied 28 June 2011
| Originally posted by : Rakesh Garg | ||
|
|
Originally posted by : Vikas Vishwakarma As per Rule 24(8) of the Limited Liability Partnership Rules (LLP Rules), 2008, every limited liability partnership (LLP) which fulfils the following two criteria is required to get its accounts audited a. turnover exceeds Rs.40 lacs in any financial year and b. whose contribution exceeds Rs.25 lacs in any financial year. right answer of mr vikas, but a change of turnover from FY 20010-11. turnover limit is extended to 60 lacs |
|
Thanks Rakesh...
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