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    Question

    What is the time period for which LLP is required to preserve all the books of accounts, annual forms and other documents at its registered office?

    A Five years Correct Answer Incorrect Answer
    B Eight years Correct Answer Incorrect Answer
    C Seven years Correct Answer Incorrect Answer
    D Till its existence Correct Answer Incorrect Answer

    Solution

    Section 34. Maintenance of books of account, other records and audit, etc.—(1) The limited liability partnership shall maintain such proper books of account as may be prescribed relating to its affairs for each year of its existence on cash basis or accrual basis and according to double entry system of accounting and shall maintain the same at its registered office for such period as may be prescribed. Limited Liability Partnership Rules, 2009: Chapter VII Rule 24 (3) The books of account which a limited liability partnership is required to keep shall be preserved for eight years from the date on which they are made.

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