Audit under the LLP Act, 2008
Statutory audit for Limited Liability Partnerships crossing the turnover or contribution thresholds — with coordinated Form 8 and Form 11 filings by an ICAI-registered Chartered Accountant from our Mumbai practice.
Under the Limited Liability Partnership Act, 2008, an LLP must get its accounts audited if its annual turnover exceeds ₹40 lakh or its partner contribution exceeds ₹25 lakh. Below both limits, audit is optional but annual filings on Form 8 (Statement of Account & Solvency) and Form 11 (Annual Return) are still mandatory for every LLP. The signed audit report is filed on Form 8 with the Registrar of Companies (ROC). If the LLP also crosses the Section 44AB turnover threshold, a separate tax audit under the Income Tax Act is required. The Classic Partners LLP conducts both end-to-end.
LLP audit that satisfies the ROC and your lenders without disrupting the partnership
An LLP audit is not just about crossing a threshold — banks and institutional lenders often require audited financials for credit facilities regardless of turnover. Partners also need a reliable audit to resolve capital account disputes, verify profit-sharing and confirm the solvency statement in Form 8 is accurate.
We audit the LLP's books end-to-end, verify partner capital accounts and profit-sharing ratios, test the solvency declaration and prepare the audit report in the LLP Solvency Statement format. Form 8 and Form 11 filings are coordinated with the ROC deadlines, and a management letter is issued with any control or compliance gaps found during the audit.
- Mandatory if turnover > ₹40 lakh or contribution > ₹25 lakh
- Audit report appended to Form 8 (Statement of Account & Solvency)
- Partner capital accounts and profit-sharing ratios verified
- Solvency declaration confirmed — assets exceed liabilities
- Form 11 (Annual Return) filed within 60 days of year-end
- Tax audit under Section 44AB coordinated if applicable
LLP audit thresholds and filing deadlines
Key provisions under the LLP Act, 2008 and related Income Tax obligations.
| Requirement | Trigger / threshold | Filing / deadline |
|---|---|---|
| LLP statutory audit | Turnover > ₹40 lakh OR partner contribution > ₹25 lakh | Audit report with Form 8 — by 30 October |
| Form 8 — Statement of Account & Solvency | Every LLP — mandatory regardless of turnover | Within 30 days of 6 months from year-end (by 30 October for March year-end) |
| Form 11 — Annual Return | Every LLP — mandatory regardless of turnover | Within 60 days of year-end (by 30 May for March year-end) |
| Tax audit (Section 44AB) | LLP turnover > ₹1 crore (₹10 crore if ≤5% cash) | Form 3CB + 3CD — by 30 September of AY |
| ITR-5 filing | Every LLP must file an income tax return | 31 July (non-audited), 31 October (audited) |
| TDS compliance | LLPs making salary, rent, professional fee payments above thresholds | Quarterly TDS returns (24Q / 26Q) |
Not sure whether your LLP needs an audit this year? Share your turnover and contribution details — we'll confirm in one call.
What our LLP audit engagement covers
End-to-end — from fieldwork to ROC filing.
Financial Statement Audit
Examination of the LLP's books, revenue, expenses and balance sheet items — tested for accuracy and compliance with the LLP Act and applicable accounting standards.
Partner Capital Accounts
Verification of each partner's capital contribution, current account movements, drawings and profit-sharing ratios against the LLP agreement.
Solvency Statement (Form 8)
Confirmation that the LLP's assets are not less than its liabilities — required for the solvency declaration made by Designated Partners on Form 8.
Form 8 & Form 11 Filing
Preparation and ROC filing of Form 8 (with audit report) and Form 11 (annual return with partner details and changes) within statutory deadlines.
Tax Audit Co-ordination
If the LLP also crosses the Section 44AB threshold, Form 3CB and 3CD are prepared and filed alongside the LLP Act audit — by the same team.
Management Letter
Control gaps, partner agreement compliance issues and tax exposures — prioritised with an owner and target close date, not just a signed report.
Our four-stage LLP audit process
Structured to close Form 8 before the October deadline — with Form 11 handled separately in May.
Scoping & data request
Engagement letter, fixed-fee quote and tailored checklist — LLP agreement, trial balance, bank statements, partner capital schedules and GST/TDS data.
Fieldwork & testing
Revenue and expense testing, partner capital verification, solvency check, bank and creditor confirmations and related-party review.
Report preparation
Audit report in LLP format, Form 8 draft reviewed with Designated Partners, and Form 3CB/3CD (if applicable) prepared in parallel.
ROC filing & debrief
Form 8 and Form 11 filed with the ROC; management letter issued; ITR-5 data handed to your tax team or filed by us if required.
LLP audit that keeps Form 8 clean and the ROC happy
Partner-led, fixed-fee and coordinated with your tax filings.
LLP Act expertise
We understand partner capital accounts, profit-sharing nuances and the solvency declaration — not just the financial statements.
Form 8 filed by 30 October
ROC deadline tracked from day one. No last-minute scramble, no penalty for late filing of the solvency statement.
Tax audit in parallel
If your LLP also needs a Section 44AB tax audit, we handle both together — one data request, one engagement team.
Fixed fee, written upfront
A written quote after the scoping call — no hourly billing and no surprises when the report is ready to sign.
Partner agreement review
We flag any mismatch between the LLP agreement and actual partner capital or profit-sharing — before the ROC sees the filing.
LLP audit questions partners ask us
Need your LLP audit and Form 8 filed on time?
Tell us your LLP's annual turnover, contribution and year-end. You'll get a fixed quote and a partner-level contact within one working day.
