Llp audit

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Nikita Agarwal

43 Points Joined August 2012

Respected Sir/Madam,

Please guide on following:-

Whether annual accounts of LLP are required to be certified by auditor even if turnover of LLP does not exceeds rs. 40 lakhs or capital contribution does not exceeds rs. 25 lakhs, as required in case of companies?? and if not, no appintment of auditor is required for that year.

Please correct me if I am wrong.

Thanks

Replies (1)

Rahul Kumar Chowdhary

82 Points Joined April 2011

Accounts of LLP to be certified by auditor only when the Turnover exceeds 40 lacs or Capital contribution exceeds 25lacs. However the partner of llp may decide voluntarily to get the accounts audited by the auditor.