Chartered Accountant · ICAI M.No. 153926 · FRN 136869W · Reviewed on 12 October 2026
The two triggers, precisely
Cross either number — ₹40 lakh of turnover or ₹25 lakh of contribution — and the year’s accounts need an auditor (a chartered accountant) appointed, with the audited accounts going into Form 8 (due 30 October). Contribution means the capital partners have brought in per the LLP agreement — a capital-heavy LLP can need an audit with zero revenue. Below both thresholds, Form 8 carries the designated partners’ own certification instead.
Statutory audit vs tax audit — different gates
The Rule 24(8) audit is LLP-law compliance. The income-tax audit under section 44AB runs on its own limits — ₹1 crore for business (₹10 crore where cash receipts and payments each stay within 5%), ₹50 lakh of gross receipts for professions. A business LLP at ₹60 lakh turnover thus needs the statutory audit but no tax audit; at ₹35 lakh with ₹30 lakh contribution it needs it too — via the contribution leg. Voluntary audit below the lines is permitted and sometimes wise (bank facilities, investor diligence).
The annual calendar either way
Audit or not, every LLP files Form 11 (annual return) by 30 May and Form 8 (statement of account & solvency) by 30 October — late fees accrue per day and have no ceiling, which is how ₹0-revenue LLPs accumulate five-figure penalties. ITR filing applies regardless of audit status. Our audit practice handles the threshold call and the filings as one calendar.