If There is a LLP (xxxxxx) Which registered in itself on 27march,2016. It do not have any income for the F/Y 2015-2016, but it have some expenses near about 20K for Accounting & Renting Charges for the F/Y 2015-16.
Net Balance of P&L is 20K.
So the Question is whether it need to be Audited (as a Loss Return ) or It can Simply file its return under Normal Way.??
LLP Rules 2009 - LLP, whose turnover does not exceed, in any financial year, forty lakh rupees, or whose contribution does not exceed twenty five lakh rupees, is not required to get its accounts audited. However, if the partners of such limited liability partnership decide to get the accounts of such LLP audited, the accounts shall be audited only in accordance with such rule.
With respect to IT filing, LLP may file the return in usual manner.
CAclubindia
