LLP for service Provider

This discussion clarifies the audit requirements for Limited Liability Partnerships (LLPs) operating as service providers. According to Rule 24 of the LLP Rules 2009, an LLP, regardless of whether it's a service provider, is subject to audit if its capital contribution is ₹25 lakh or more, or if its turnover exceeds ₹40 lakh. This differs from the general ₹50 lakh audit threshold often applied to other service provider firms.