Does an LLP need a statutory audit?

Name: Vijay R Singh & Co.
Address: Office No. 4, Vishal CHSL, D Wing, Sir Mathuradas Vasanji Road, Azad Nagar, Opp. Andheri Gymkhana, Andheri East, Maharashtra, 400069, IN
Telephone: +91 98607 23959

CA Vijay R Singh, FCA
Chartered Accountant · ICAI M.No. 153926 · FRN 136869W

Short answerAn LLP needs a statutory audit only if its turnover exceeds ₹40 lakh or its capital contribution exceeds ₹25 lakh in a financial year. Below both, an LLP is exempt — one reason LLPs carry lighter compliance than companies.

The ₹40 lakh / ₹25 lakh test

Cross either threshold and audit is required for that year. Confirm current limits.

Below = exempt

A small LLP under both limits still files Form 8 and Form 11, but no audit — a key advantage over companies.

Audit

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This answer is general information for businesses, not professional advice. Tax rates, thresholds and forms change with each Finance Act — please confirm the current position for your own facts, or speak to us, before acting.