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LLP Statutory Audit - Section 34(4) LLP Act 2008 and Rule 24(8) Framework

Reviewed by CA and CS Team, Patron Accounting LLP ICAI & ICSI Registered| 15+ Years Experience| Last Updated: Verify Credentials →

Conditional Audit Under Section 34(4): Triggered when turnover crosses Rs 40 lakh OR contribution crosses Rs 25 lakh in any FY. Below both thresholds - audit is voluntary, books still mandatory. Crossing either threshold even once triggers audit for the full FY.

SA-Compliant + Form 8 + Form 11: Full ICAI SA series (SA 230, 315, 330, 500, 530, 700) with UDIN-verified auditor's report. Form 8 Part B certification + Form 11 annual return + Designated Partner resolution + MCA V3 filings, all coordinated.

No CARO, No IFC, No Rotation: Unlike Pvt Ltd audit, LLP scope excludes CARO 2020, Section 143(3)(i) Internal Financial Controls, and Section 139(2) rotation. Materially narrower scope - and materially lower fees.

Fixed-Fee Pricing from Rs 18,000: Tier 1 just-above-threshold LLP from Rs 18,000. Tier 2 mid-size from Rs 30,000. Tier 3 large LLP from Rs 60,000. Pvt Ltd equivalent fees start at Rs 35,000 - LLP audit is roughly half the cost.

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“
Our consulting LLP crossed Rs 40 lakh turnover in Q3 of FY 2024-25. Patron correctly flagged the retroactive trigger for the FULL FY, not just Q3 onwards. Form 8 was certified and filed inside the 30 October window with no penalty exposure.
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Rajesh M.
Designated Partner, Consulting LLP, Pune
★★★★★
2 months ago
“
As a CA practice LLP we wanted voluntary audit below thresholds for partner-distribution transparency. Patron ran the engagement with the same SA rigour as a mandatory audit - the workpaper file became our reference template for our own clients.
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Sunita P.
Managing Partner, CA Practice LLP, Mumbai
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“
Real-estate LLP with 4 years of Form 8 and Form 11 backlog. Patron checked ROC status, filed all 8 backlog forms with Rs 100/day penalty negotiated where possible, and completed Tier 2 audit in 25 working days. ROC adjudication-ready file.
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Vinod K.
Designated Partner, Real-Estate LLP, Gurugram
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4 months ago
“
Manufacturing LLP - Tier 3 with multi-state operations. Patron coordinated inventory observation at 3 locations, did transfer pricing audit alongside statutory audit, and delivered a workpaper file that passed our PE investor's diligence in 5 days.
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Anil T.
CFO, Manufacturing LLP, Mumbai
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1 month ago
“
Family-vehicle LLP just crossed Rs 25 lakh contribution after a partner top-up - first statutory audit ever. Patron handled the transition with prior-year balance review, partner education on workpaper expectations, and clean Form 8 certification.
PK
Pooja K.
Designated Partner, Family Vehicle LLP, Delhi
★★★★★
2 months ago

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Overview: LLP Statutory Audit under Section 34(4)

📌 TL;DR - LLP Statutory Audit Services at a Glance

LLP statutory audit is triggered when turnover crosses Rs 40 lakh OR contribution crosses Rs 25 lakh in any FY under Section 34(4) of LLP Act 2008 and Rule 24(8) of LLP Rules 2009. Auditor appointed by Designated Partners at least 30 days before FY end. Form 8 due 30 October; Form 11 due 30 May. No CARO 2020. Patron LLP audit from Rs 18,000.

LLP audit is conditional. Many LLPs - especially professional services firms, consulting LLPs, and family-vehicle LLPs operating below the contribution threshold - never trigger statutory audit. But the moment turnover crosses Rs 40 lakh in any single FY, the audit kicks in and Form 8 needs auditor certification. Crossing the threshold mid-year does NOT defer the trigger to the next FY - the audit obligation applies to the full FY.

Patron Accounting LLP conducts ICAI-compliant statutory audits for Limited Liability Partnerships under Section 34(4) read with Rule 24(8). Engagement includes SA-compliant audit execution (risk assessment, substantive testing, sampling, reporting), UDIN-verified auditor's report, Form 8 Part A and Part B preparation and certification, Form 11 annual return filing, Designated Partner appointment resolution, ITR-5 coordination, and Section 44AB tax audit add-on where triggered. Patron has completed 500+ statutory audits across consulting LLPs, professional firms, manufacturing LLPs, real-estate LLPs, and family-vehicle LLPs with fixed-fee pricing tiers from Rs 18,000.

Content is reviewed quarterly for accuracy.

What Is LLP Statutory Audit?

LLP statutory audit is the legally mandated independent examination of an LLP's books of account, Statement of Account and Solvency, and supporting records by a qualified Chartered Accountant under Section 34(4) of the LLP Act 2008 read with Rule 24(8) of the LLP Rules 2009. The audit is conducted in accordance with ICAI Standards on Auditing (SA series) and produces an auditor's report with a Unique Document Identification Number (UDIN) issued by ICAI.

Unlike Pvt Ltd statutory audit (mandatory regardless of size under Section 139 of Companies Act 2013), LLP audit is conditional - it kicks in only when the LLP crosses one of two financial thresholds in a financial year: turnover above Rs 40 lakh OR contribution above Rs 25 lakh. Below both thresholds, the LLP can still maintain books and file Form 8 with Designated Partner self-certification - no CA audit required.

Three Companies Act provisions that do NOT apply to LLPs: (a) CARO 2020 - the 21-clause Companies Auditor's Report Order applies only to companies, not LLPs. (b) Section 143(3)(i) Internal Financial Controls reporting - a Companies Act mandate with no LLP equivalent. (c) Section 139(2) auditor rotation - the 5-year/10-year cap that applies to listed and prescribed companies has no LLP counterpart. Auditors of LLPs can continue indefinitely (subject to independence rules).

Key Terms for LLP Statutory Audit:

  • Section 34(4), LLP Act 2008: Statutory provision requiring LLP accounts to be audited in accordance with such rules as may be prescribed - the rules are Rule 24(8) of LLP Rules 2009. Section 34(4) also empowers the Central Government to exempt smaller LLPs from audit.
  • Rule 24(8), LLP Rules 2009: Operational rule creating the audit trigger - accounts of every LLP shall be audited subject to the proviso that LLPs with turnover up to Rs 40 lakh AND contribution up to Rs 25 lakh are exempt. Literal reading: audit triggered when either threshold is crossed.
  • Form 8 - Statement of Account and Solvency: MCA V3 form filed annually by 30 October (30 days after 6 months from FY end) under Section 34 of LLP Act. Part A: solvency statement signed by 2 Designated Partners. Part B: Statement of Income and Expenditure plus Statement of Assets and Liabilities. Auditor certifies Part B if audit threshold is crossed.
  • Form 11 - Annual Return: MCA V3 form filed annually by 30 May (60 days from FY end) under Section 35 of LLP Act. Discloses partner contribution, designated partner detail, and changes during the year. DSC-signed by 2 Designated Partners. Compliance certificate by PCS required if turnover above Rs 5 crore or contribution above Rs 50 lakh.
  • Small LLP (LLP Amendment Act 2021): Effective 1 April 2022. Small LLP defined as turnover up to Rs 40 lakh AND contribution up to Rs 25 lakh. Note the AND - both conditions must be met simultaneously. Small LLPs get compliance relaxations but Rule 24(8) audit threshold trigger remains the same.
  • Designated Partner (DP): Partner designated by the LLP to comply with statutory obligations. Every LLP must have minimum 2 DPs, at least one resident in India. DPs appoint the statutory auditor.
  • Contribution: Cumulative partner contribution as recorded in the LLP agreement - capital plus any agreed addition. Includes cash, property, services, or a contract for services. Crossing Rs 25 lakh contribution triggers audit regardless of turnover.
  • UDIN (Unique Document Identification Number): Mandatory ICAI-issued identifier on all audit reports since 1 July 2019. Validates auditor identity and curbs document forgery. Required on LLP audit reports.
  • SA Series (Standards on Auditing): ICAI's binding audit standards - SA 230 documentation, SA 315 risk assessment, SA 330 audit response, SA 500 audit evidence, SA 530 sampling, SA 700 reporting. Applicable to LLP audits as much as to company audits.
  • ITR-5: Income tax return for LLPs (and certain firms, AOPs, BOIs). Due 31 July for non-audit cases, 31 October for audit cases under Section 44AB or Section 34(4) audit.
  • Section 44AB Tax Audit: Income Tax Act tax audit triggered above Rs 1 crore business turnover (Rs 10 crore if 95% cashless), or Rs 50 lakh professional receipts. Separate from LLP Act statutory audit - both may apply simultaneously.
APL-05 LLP Statutory Audit
Audit Trigger Rs 40L turnover OR Rs 25L contribution

Who Needs LLP Statutory Audit?

LLP audit applicability is determined exclusively by size thresholds under Rule 24(8) of LLP Rules 2009. Once either threshold is crossed in any FY, audit becomes mandatory for that FY and remains so for every subsequent FY until both thresholds are below the limit for two consecutive years.

  • LLPs with annual turnover above Rs 40 lakh in any FY - audit triggered regardless of contribution.
  • LLPs with contribution above Rs 25 lakh (cumulative partner contribution as recorded in the LLP agreement) - audit triggered regardless of turnover.
  • LLPs voluntarily seeking audit for fundraising due-diligence, bank borrowing, or M&A buyer comfort even when below thresholds.
  • Professional services LLPs (CA firms, CS firms, advocate firms) - audit advisable for partner-distribution transparency even when below thresholds.
  • LLPs filing tax audit under Section 44AB of Income-tax Act 1961 (turnover above Rs 1 crore business, Rs 10 crore digital business, Rs 50 lakh profession) - statutory audit also typically triggered.

Below-threshold LLPs: Books of account must still be maintained on cash or accrual basis with double-entry system (Rule 24(1) to (4)); Form 8 and Form 11 still need to be filed annually; only the audit certification on Form 8 Part B is dispensed with.

Threshold crossing mid-year: Crossing either threshold even by one rupee in a single FY triggers audit obligation for that FY. Threshold check happens at FY end - mid-year crossing is treated as having crossed for the full FY. Many LLPs are caught out by Q3 or Q4 revenue spikes that retroactively trigger audit obligation for the full FY ending 31 March.

Our LLP Audit Deliverables

ServiceWhat We Do
LLP Statutory Audit ExecutionFull SA-compliant audit including risk assessment (SA 315), audit response (SA 330), substantive testing (SA 500), sampling (SA 530), documentation (SA 230), and reporting (SA 700) with UDIN-verified auditor's report.
Threshold Applicability OpinionWritten opinion on whether the LLP has crossed Section 34(4) audit trigger - turnover and contribution analysis, identification of trigger date, audit-readiness assessment. Particularly useful for LLPs approaching Rs 40 lakh turnover mid-year.
Form 8 Preparation and CertificationPart A solvency statement preparation, Part B income/expenditure plus assets/liabilities statement preparation, auditor certification on Part B (if threshold crossed), DSC-signing by Designated Partners, MCA V3 filing inside 30 October deadline.
Form 11 Preparation and FilingAnnual Return preparation with partner contribution detail, designated partner status, body corporate disclosures, compliance certificate from PCS (if turnover above Rs 5 crore or contribution above Rs 50 lakh), MCA V3 filing inside 30 May deadline.
Auditor Appointment SupportDesignated Partner board resolution drafting, eligibility verification (independence under ICAI ethics), engagement letter under SA 210, audit team allocation.
Tax Audit Coordination (Section 44AB)Section 44AB tax audit for LLPs above turnover thresholds; separate Form 3CA/3CB and Form 3CD report; coordinated with statutory audit to share workpapers and avoid duplication.
Partner-Current-Account ReconciliationReconciliation of partner capital and current accounts against LLP agreement, profit-sharing ratio verification, contribution movements, and inter-partner distribution analysis. Particularly relevant for professional services LLPs.
Backlog Filing Support (Form 8 / Form 11)Filing of pending Form 8 and Form 11 returns at Rs 100/day/form (LLPs are NOT covered by CCFS-2026 amnesty). Strike-off restoration via NCLT under Section 75 if ROC has struck off the LLP.
ITR-5 Filing CoordinationFiling of LLP income tax return on or before 31 October (audit case) deadline, coordinated with the LLP audit closure and tax audit Form 3CD where applicable.
Our Process

Patron LLP Audit Engagement Process

A 7-step protocol aligned to ICAI Standards on Auditing and LLP-specific filing requirements - from threshold scoping to Form 8 filing and ITR-5 coordination. Patron files Form 11 inside 30 May and Form 8 inside 30 October when engaged before mid-September.

Step 1

Threshold Scoping

Confirm turnover and contribution for the FY; identify whether audit is mandatory under Rule 24(8) or voluntary; issue fixed-fee quote within 24 hours. Crossing either threshold by even one rupee triggers audit for the full FY.

24-hour fixed-fee quote Trigger date identified
Rs 40L T/O OR Rs 25L Contribution
Trigger Identified 01
Step 2

Designated Partner Resolution

Draft auditor appointment resolution by Designated Partners; eligibility verification (no employee or partner relationship; ICAI member in practice; no significant indebtedness); engagement letter under SA 210. No AGM requirement unlike Pvt Ltd.

DP resolution drafted SA 210 engagement
DP
DPs Appoint 02
Step 3

Books Review

Cash or accrual basis check under Rule 24(1) to (4); double-entry system verification; opening balance reconciliation with prior year (if any); 8-year retention compliance under Section 34 LLP Act.

Books reviewed Opening balances
Ledger Verified 03
Step 4

Risk Assessment (SA 315)

Understanding of LLP business, identification of significant accounts, partner-contribution and partner-distribution review, related-party transaction inventory, internal control mapping for material accounts.

SA 315 framework RPT inventory
Risk Mapped 04
Step 5

Substantive Testing

Vouching, ledger scrutiny, third-party confirmations, bank reconciliation, cut-off testing; partner-current-account reconciliation; profit-sharing ratio verification against LLP agreement; SA 500, SA 530 sampling.

Vouching + confirmations SA 500 / 530
Testing Complete 05
Step 6

Form 8 Preparation

Part A solvency statement signed by 2 DPs; Part B income/expenditure plus assets/liabilities prepared and auditor-certified; UDIN registration; MCA V3 filing inside 30 October deadline (30 days after 6 months from FY end).

Form 8 certified 30 Oct deadline
FORM 8
Filed at MCA V3 06
Step 7

Form 11 and ITR-5 Coordination

Annual return preparation by 30 May (60 days from FY end); PCS compliance certificate if turnover above Rs 5 crore or contribution above Rs 50 lakh; ITR-5 filing inside 31 October audit-case deadline; tax audit Form 3CD if Section 44AB triggered.

Form 11 by 30 May ITR-5 by 31 Oct
FORM 11 30 May ITR-5 31 OCT
All Filings Done 07
Step 8

Workpaper Archive and Quality Review

SA 230 workpaper file archived for 8 years per ICAI norms; UDIN registration on ICAI portal; partner-level review of audit conclusions and material judgements; ICAI quality review readiness and ROC adjudication-ready documentation.

SA 230 archive Partner review
UDIN
Archive Complete 08

Documents Required for LLP Audit

  • LLP agreement and any supplementary agreements (for partner contribution and profit-sharing verification)
  • Trial balance, general ledger, and bank statements for the financial year
  • Sales register, purchase register, fixed asset register
  • Bank reconciliation statements for every operating bank account
  • GSTR-1, GSTR-3B, and GSTR-9 acknowledgements (if GST-registered)
  • TDS returns (Form 24Q, 26Q) and PF/ESI returns (if applicable)
  • ITR-5 acknowledgement for the preceding year (for opening balance and comparative review)
  • Partner contribution records, capital account ledger, current account ledger
  • Loan agreements, bank sanction letters, body-corporate borrowing detail
  • Related-party transaction list, significant contracts, lease agreements
  • Designated Partner DSC and DIN, LLP Identification Number (LLPIN)
  • Form 8 and Form 11 of the preceding year for reference
  • Tax audit Form 3CA/3CB and Form 3CD of preceding year (if Section 44AB applicable)

LLP Audit Challenges and Solutions

ChallengeImpactHow Patron Accounting Solves It
LLP Crossed Rs 40 Lakh Mid-FY - DPs Unaware of Retroactive TriggerLLP crossed Rs 40 lakh turnover in Q3 of FY and Designated Partners were not aware of audit obligation kicking in retroactively for the full FY. Form 8 deadline approaching with no auditor engaged.Patron runs a fast-track threshold-trigger audit covering the full FY (not just post-threshold months). Form 8 Part B certified by auditor; filing remains inside the 30 October MCA deadline if engaged before mid-September.
First Statutory Audit After Years of Self-CertificationLLP has been below thresholds for years and has self-certified Form 8 - now crossing Rs 40 lakh and needs first statutory audit with no prior SA-compliant workpapers.Patron handles the transition: prior-year balance review for opening balance integrity, first audit conducted with SA 315 risk assessment, partner education on workpaper expectations, smooth Form 8 certification under Section 34(4).
Backlog Form 8 or Form 11 for 2+ YearsLLP defaulted on Form 8 or Form 11 for 2+ years - audit needed but ROC may have struck off the LLP under Section 75. LLPs NOT covered by CCFS-2026 amnesty.Patron checks ROC status first. If still active, file backlog Form 8 and Form 11 with Rs 100/day/form penalty (full late fee applies). If struck off, restoration through NCLT under LLP Act 2008 Section 75 is required before audit can proceed.
Voluntary Audit Below ThresholdsProfessional services LLP wants voluntary audit below thresholds for partner-distribution transparency, fundraising diligence, or buyer comfort.Patron conducts a SA-compliant voluntary audit with the same workpaper rigour as a mandatory engagement. Partner-current-account reconciliation, profit-sharing ratio verification, and inter-partner distribution analysis are common focal points.
Mismatched Partner Contribution vs LLP AgreementPartner capital account balances in books do not match contribution recorded in the LLP agreement - common where supplementary agreements have updated contribution without formal MCA filing.We reconcile the books with the latest filed LLP agreement, identify gaps, recommend supplementary agreement filing under Form 3 where merited, and certify the corrected position in the audit report.

Patron LLP Audit Pricing - 3-Tier Fixed Fee

Fee ComponentAmount
Initial Case Review and Threshold Opinion30-min scoping call + audit-trigger opinion + fixed-fee quote - Free
Tier 1 - Just-Above-Threshold LLP (Rs 40 lakh to Rs 1 crore turnover)Single-location, clean books, SA-compliant audit + Form 8 + Form 11 + DP resolution + MCA filings - Starting from INR 18,000 (Exl GST and Govt. Charges)
Tier 2 - Mid-Size LLP (Rs 1 to 10 crore turnover)All of Tier 1 plus related-party testing, partner-current-account reconciliation, profit-sharing verification, PCS compliance certificate - Starting from INR 30,000 (Exl GST and Govt. Charges)
Tier 3 - Large LLP (above Rs 10 crore turnover)All of Tier 2 plus inventory observation, third-party confirmations, transfer pricing audit coordination, ICAI quality review readiness - Starting from INR 60,000 (Exl GST and Govt. Charges)
Form 8 Preparation and Certification OnlyPart A solvency + Part B auditor-certified statement + MCA V3 filing - Starting from INR 18,000 (Exl GST and Govt. Charges)
Form 11 Annual Return FilingAnnual return + DP details + partner contribution + DSC signing - Starting from INR 5,000 (Exl GST and Govt. Charges)
Section 44AB Tax Audit Add-OnForm 3CA/3CB + Form 3CD with all annexures - Starting from INR 15,000 (Exl GST and Govt. Charges)
Voluntary Audit (Below Threshold)SA-compliant voluntary audit for fundraising, M&A, or partner transparency - Starting from INR 18,000 (Exl GST and Govt. Charges)
Backlog Form 8 / Form 11 Filing (Per FY)Filing of pending returns + Rs 100/day/form penalty payable to MCA - Starting from INR 8,000 (Exl GST and Govt. Charges) per FY
NCLT Restoration under Section 75 (Struck-Off LLP)Petition drafting, NCLT representation, restoration order, post-restoration backlog filings - On quote
ITR-5 FilingLLP income tax return for audit or non-audit case - Starting from INR 5,000 (Exl GST and Govt. Charges)
Patron Accounting Professional FeesStarting from INR 18,000 (Exl GST and Govt. Charges) for Tier 1 LLP

All fees and charges listed are indicative only and do not constitute a binding offer. Final amounts may vary depending on the volume of work and the complexity involved.

Professional service charges for drafting, filing, and representation are separate from the statutory fees. The exact fee depends on the complexity of the case, disputed amount, and number of hearings required. Contact us for a detailed quote.

Get a free LLP Statutory Audit consultation - Call +91 945 945 6700 or WhatsApp us. No-obligation assessment.

How Long the LLP Audit Takes

StageEstimated Timeline
Scoping call and fixed-fee quote24 hours from initial request
Designated Partner resolution and engagement letter3 working days
Tier 1 just-above-threshold LLP audit15 to 20 working days from books handover
Tier 2 mid-size LLP audit20 to 30 working days
Tier 3 large LLP audit30 to 45 working days (depending on inventory observation and multi-location coordination)
Form 11 Annual Return filingBy 30 May (60 days from FY end)
Form 8 Statement of Account and Solvency filingBy 30 October (30 days after 6 months from FY end)
ITR-5 filingBy 31 October for audit cases, 31 July for non-audit cases
Tax audit Form 3CA/3CB and Form 3CDBy 30 September (if Section 44AB triggered)

Urgency: Threshold-crossing LLPs that missed audit engagement should engage by mid-September to make the 30 October Form 8 deadline. Engagements after mid-September risk filing-deadline pressure and Rs 100/day/form penalty (LLPs NOT covered by CCFS-2026 amnesty). Call +91 945 945 6700 for a free 24-hour scoping call.

Key Benefits

Benefits of Patron LLP Audit Practice

UDIN-Verified, SA-Compliant Reports

Every audit report carries UDIN registered on the ICAI portal. Full SA series compliance (SA 230, 315, 330, 500, 530, 700) with partner-level review. The audit file satisfies ICAI quality review and ROC adjudication scrutiny.

15+ Years LLP-Specific Experience

Patron's LLP audit team is led by CAs with 15+ years of LLP audit practice across consulting LLPs, professional firms (CA, CS, advocate), real-estate LLPs, manufacturing LLPs, and family-vehicle LLPs. 500+ audits completed.

Fixed-Fee, Transparent Pricing

Tier 1 from Rs 18,000, Tier 2 from Rs 30,000, Tier 3 from Rs 60,000. No hourly surprises. Fixed-fee quote within 24 hours of scoping call. Materially lower than equivalent Pvt Ltd audit fees because scope excludes CARO, IFC, and rotation.

National Coverage from 4 Offices

Offices in Pune, Mumbai, Delhi, and Gurugram with travel coverage for branch verification and inventory observation across India. We handle Tier 3 multi-state LLP audits with single-engagement coordination.

Social Proof and Client Outcomes

Trust Banner: 10,000+ Businesses Served | 4.9 Google Rating | 500+ Statutory Audits Completed | 15+ Years

"Our consulting LLP crossed Rs 40 lakh turnover in Q3 of FY 2024-25. Patron correctly flagged the retroactive trigger for the FULL FY, not just Q3 onwards. Form 8 was certified and filed inside the 30 October window with no penalty exposure."

- Designated Partner, Consulting LLP, Pune

"As a CA practice LLP we wanted voluntary audit below thresholds for partner-distribution transparency. Patron ran the engagement with the same SA rigour as a mandatory audit - the workpaper file became our reference template for our own clients."

- Managing Partner, CA Practice LLP, Mumbai

Indicative Client Logos: Hyundai, Asian Paints, Bridgestone (group-affiliate work) and 10,000+ other businesses including LLP audit clients across India.

Outcome Stat: Of Patron's 500+ statutory audit engagements, 100% are completed inside MCA filing deadlines when client books are handed over 30 days before due date. Patron audit files have passed every ICAI quality review and every ROC adjudication scrutiny encountered to date.

Four-Office City Trust Signal: With offices in Pune, Mumbai, Delhi, and Gurugram, Patron Accounting serves LLP audit clients across India with travel coverage for branch verification and inventory observation.

LLP vs Pvt Ltd Audit - Side-by-Side

DimensionLLPPrivate Limited Company
Governing statuteLLP Act 2008 + LLP Rules 2009Companies Act 2013 + Audit Rules 2014
Audit triggerConditional - turnover above Rs 40 lakh OR contribution above Rs 25 lakhMandatory - every Pvt Ltd regardless of turnover or size
Auditor appointmentBy Designated Partners; at least 30 days before FY endBy Board within 30 days of incorporation (first); by AGM thereafter
Auditor termUntil removed or resigned (no statutory term)5 years under Section 139(1)
Auditor rotationNot applicableSection 139(2) at Rs 50 cr paid-up or borrowings
Annual return formForm 11 (due 30 May)MGT-7 or MGT-7A (due within 60 days of AGM)
Financial statement formForm 8 (due 30 October)AOC-4 (due within 30 days of AGM)
CARO 2020Not applicableApplicable unless four-criteria exemption met
Section 143(3)(i) IFCNot applicableApplicable above Rs 50 cr turnover or Rs 25 cr borrowings
CCFS-2026 amnesty for backlogNot covered - full late fee appliesCovered - 90% additional-fee waiver until 15 July 2026
Starting Patron feeRs 18,000 (Tier 1)Rs 35,000 (Tier 1)

Related Patron Services

LLP statutory audit connects to several Patron service lines across the LLP lifecycle:

  • Statutory Audit Services (National Hub) - The topical authority page covering audit methodology, applicability matrix across all entity types, and Patron vs commodity provider comparison.
  • Pvt Ltd Statutory Audit - Sibling spoke covering Section 139 Companies Act audit framework for Private Limited Companies. Useful for founders comparing LLP vs Pvt Ltd compliance costs.
  • LLP Incorporation - Registration service for new LLPs covering LLP-RUN name approval, FiLLiP incorporation, LLP agreement drafting.
  • Pvt and LLP Compliance Retainer - Combined annual retainer covering Form 8, Form 11, ITR-5, DIR-3 KYC for partners, and audit coordination.
  • LLP Strike-Off Form 24 - Voluntary closure service for LLPs that have ceased operations.
  • Convert Partnership to LLP - Conversion service for partnership firms upgrading to LLP structure under Schedule II of LLP Act 2008.
  • Section 44AB Tax Audit - Tax audit for LLPs above Rs 1 crore business turnover, Rs 10 crore digital, or Rs 50 lakh profession.

City Coverage: Patron LLP audit teams operate from offices in Pune, Mumbai, Delhi, and Gurugram, with travel coverage for branch verification and inventory observation across India.

Legal and Compliance Framework

Governing Statutes: LLP Act 2008 (Sections 34 and 35), LLP Rules 2009 (Rules 24(1) to 24(8)), LLP Amendment Act 2021 (effective 1 April 2022). Refer to the India Code - LLP Act 2008, the MCA portal for LLP filings (Form 8 and Form 11), and the ICAI Standards on Auditing and UDIN portal.

  • LLP Act 2008 - Section 34: Maintenance of books of account (cash or accrual, double-entry, 8-year retention).
  • Section 34(4): Audit obligation subject to prescribed rules.
  • Section 35: Annual return in Form 11.
  • Section 70: Penalty for failure to maintain books - Rs 1 lakh to Rs 5 lakh on LLP plus Rs 25,000 to Rs 1 lakh on each DP.
  • LLP Rules 2009 - Rule 24(1) to (4): Manner of keeping books (cash or accrual, double-entry).
  • Rule 24(5): Form 8 fees.
  • Rule 24(6) and (7): DP signing of Form 8.
  • Rule 24(8): Audit trigger - turnover above Rs 40 lakh OR contribution above Rs 25 lakh.
  • LLP Amendment Act 2021: Effective 1 April 2022. Small LLP definition - turnover up to Rs 40 lakh AND contribution up to Rs 25 lakh. Audit threshold under Rule 24(8) remains unchanged.
  • Form 11 - Annual Return: Due 30 May (60 days from FY end) under Section 35. DSC-signed by 2 DPs. PCS compliance certificate if turnover above Rs 5 crore or contribution above Rs 50 lakh.
  • Form 8 - Statement of Account and Solvency: Due 30 October (30 days after 6 months from FY end) under Section 34. Part A: solvency by DPs. Part B: income/expenditure plus assets/liabilities; auditor-certified if Section 34(4) threshold crossed.
  • Penalty Framework: Form 8 and Form 11 - Rs 100 per day per form with no upper cap (LLP Amendment Rules 2020). LLPs are NOT covered by CCFS-2026 amnesty - full late fee applies on backlog filings.
  • ICAI Standards on Auditing for LLPs: SA 200 series overall objectives, SA 230 documentation, SA 315 risk assessment, SA 330 audit response, SA 500 audit evidence, SA 530 sampling, SA 700 reporting. UDIN mandatory since 1 July 2019.
  • Income-tax Act 1961 - ITR-5: Due 31 July (non-audit) or 31 October (audit). Section 44AB tax audit triggered above Rs 1 crore business, Rs 10 crore digital business, or Rs 50 lakh professional receipts. Tax audit is separate from LLP Act statutory audit.

Frequently Asked Questions

Quick answers to the questions Designated Partners and CA firms ask most about LLP statutory audit, Section 34(4) trigger, Form 8 and Form 11 filings, and Patron's fixed-fee pricing tiers.

Quick Answers

LLP audit governing section? Section 34(4) of LLP Act 2008 read with Rule 24(8) of LLP Rules 2009.

Audit trigger? Turnover above Rs 40 lakh OR contribution above Rs 25 lakh in any FY.

Form 11 due date? 30 May (60 days from FY end) under Section 35.

Form 8 due date? 30 October (30 days after 6 months from FY end) under Section 34.

Auditor appointment? By Designated Partners at least 30 days before FY end. No AGM requirement.

CARO 2020 / IFC / rotation? NOT applicable - all three are Companies Act provisions with no LLP equivalent.

Patron pricing tiers? Rs 18,000 just-above-threshold | Rs 30,000 mid-size | Rs 60,000+ large LLP.

Backlog penalty? Rs 100/day/form with no upper cap. LLPs are NOT covered by CCFS-2026 amnesty.

Urgency Recap - FY 2025-26 Deadlines

Deadlines: For FY 2025-26 ending 31 March 2026, LLPs must file Form 11 by 30 May 2026 and Form 8 by 30 October 2026. ITR-5 by 31 October 2026 (audit case) or 31 July 2026 (non-audit case).

Penalty Exposure: Each day of delay accrues Rs 100 per day per form with no upper cap. LLPs are NOT covered by CCFS-2026 amnesty - the 90% additional-fee waiver applies only to companies under Companies Act 2013, not to LLPs under LLP Act 2008.

Strike-Off Risk: LLPs with backlog from 2+ years risk Section 75 striking off by ROC. Restoration via NCLT is required before audit can proceed.

Action: Threshold-crossing LLPs that missed audit engagement should engage by mid-September to make the 30 October Form 8 deadline. Call +91 945 945 6700 for free case review and a 24-hour fixed-fee quote.

Talk to Patron's LLP Audit Team

LLP statutory audit is the conditional cousin of the Pvt Ltd mandatory audit - same SA-compliant methodology, narrower reporting scope, materially lower cost. The Rs 40 lakh turnover and Rs 25 lakh contribution thresholds under Rule 24(8) of LLP Rules 2009 are the only triggers; below both, audit is voluntary. Once triggered, Form 8 Part B requires auditor certification and the full ICAI Standards on Auditing apply.

Patron's LLP audit practice brings 15+ years of LLP audit experience across consulting LLPs, professional services firms (CA, CS, advocate), manufacturing LLPs, real-estate LLPs, and family-vehicle LLPs - with fixed-fee pricing from Rs 18,000, national coverage from 4 offices, and partner-reviewed UDIN-verified reports that satisfy ICAI quality review and ROC adjudication scrutiny.

500+ statutory audits completed. 95% resolution rate. Free 30-minute LLP audit threshold opinion and scoping call - fixed-fee quote within 24 hours.

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Related Patron Services for LLPs

End-to-end LLP lifecycle support - audit, compliance retainer, incorporation, strike-off, conversion, and tax audit.

LLP Lifecycle Services from Patron
From LLP incorporation to compliance retainer, audit, and strike-off - all under one roof.
Statutory Audit Hub
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Section 44AB

Content Created: 12 May 2026  |  Last Updated: 12 May 2026  |  Next Review: 12 November 2026  |  Reviewed By: CA & CS Team, Patron Accounting LLP

Content reviewed semi-annually + immediate on LLP Amendment Act changes, Rule 24(8) threshold revisions, new MCA filing rules, ICAI Standards on Auditing updates, or CCFS amnesty extension to LLPs. Last reviewed by CA and CS Team, Patron Accounting LLP.

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