Tax Audit Applicability in case of a business loss of LLP

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This discussion addresses whether a tax audit is required for a Limited Liability Partnership (LLP) that has incurred a loss. The specific scenario involves an LLP with a turnover of £57 lakh and a loss of £52 lakh. The consensus is that a tax audit is not applicable in this situation, even with a significant loss, provided the turnover remains below the threshold.

CA Snehal Pratik Doshi

CA Snehal Pratik Doshi (Querist)
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20 June 2024 Dear All,
I have a query regarding applicability of tax audit in case of LLP.
1.Turnover is 57 lacs
2.Loss is 52 lacs
whether tax audit will be applicable or not in case of loss making LLP?
Thanks