Is any Audit under Income Tax Act applicable to LLP having a turnover of around 60 lacs running into loss ?
CS Vishal Mehta (Self Employed) (436 Points)
11 April 2023Is any Audit under Income Tax Act applicable to LLP having a turnover of around 60 lacs running into loss ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 11 April 2023
Not mandatory under IT act.
The accounts of every LLP should be audited in accordance with Rule 24 of LLP, Rules 2009.
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