I have registered a LLP. What all types of audits are applicable on my LLP?? My personal Income will be cluubed in LLP?

July 4, 2022 /

Income tax audit will be applicable if LLP turnover is more than 1 crore (Individuals transaction not to be clubbed). If turnover is more than 40 Lakhs and less than 1 crore than audit under Limited liability act will be applicable. No audit will be applicable if turnover is below 40 Lakhs. All the personal transactions and income will be taxed separately and 2 Returns of Income will be filled. (1 Return for LLP and another return for your personal Income)

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