Is any Audit under Income Tax Act applicable to LLP having a turnover of around 60 lacs running into loss ?
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Audit under Income Tax for LLP
Replies (2)
Not mandatory under IT act.
The accounts of every LLP should be audited in accordance with Rule 24 of LLP, Rules 2009.
Hi sir... A LLP has been alloted shares from the market via Pref Warrants. The LLP has been formed for this purpose. Want to know the capital gains/ Income tax implications upon the sale of those shares over a period of time. Will it be considered Capital Gains only or will it be taxed as Income Tax. What are the tax brackets.
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