LLP- Audit Regarding

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proprietor
82 Points Posted on 19 May 2020

Dear Experts,

Can you guide me what is the Audit Limit for an LLP engaged in manufacturing business in India?

At some places it shows 40Lac at some places 1 crore. Please confirm?

 

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On 19 May 2020 at 15:43 Report
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This discussion clarifies the audit requirements for Limited Liability Partnerships (LLPs) engaged in manufacturing businesses in India. It addresses confusion regarding the audit limit, distinguishing between the LLP Act requirement of 40 lakhs and the tax audit threshold of 1 crore. The consensus confirms that 40 lakhs is the relevant audit limit under the LLP Act for manufacturing entities.

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Chartered Accountant
8487 Points Posted on 19 May 2020
40 lacs is the limit for audit under the LLP Act while 1 crores is the limit for tax audit
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On 19 May 2020 at 20:48
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BUSINESS DEVELOPMENT MANAGER
1697 Points Posted on 20 May 2020

40 lakhs is the Audit Limit for an LLP engaged in manufacturing business in India

 

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On 20 May 2020 at 13:42

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