Is any Audit under Income Tax Act applicable to LLP having a turnover of around 60 lacs running into loss ?
Is any Audit under Income Tax Act applicable to LLP having a turnover of around 60 lacs running into loss ?
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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