Maintenance of books of account, other records and audit, etc
Section 34 of the Limited Liability Partnership Act, 2008 deals with maintenance of books of account, other records and audit, etc. 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 pe The Act came into force on 31 Mar 2009.
(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.
(2) Every limited liability partnership shall, within a period of six months from the end of each financial year, prepare a Statement of Account and Solvency for the said financial year as at the last day of the said financial year in such form as may be prescribed, and such statement shall be signed by the designated partners of the limited liability partnership.
(3) Every limited liability partnership shall file within the prescribed time, the Statement of Account and Solvency prepared pursuant to sub-section (2) with the Registrar every year in such form and manner and accompanied by such fees as may be prescribed.
(4) The accounts of limited liability partnerships shall be audited in accordance with such rules as may be prescribed:
Provided that the Central Government may, by notification in the Official Gazette, exempt any class or classes of limited liability partnerships from the requirements of this sub-section.
1[(5) Any limited liability partnership which fails to comply with the provisions of sub-section (3), such limited liability partnership and its designated partners shall be liable to a penalty of one hundred rupees for each day during which such failure continues, subject to a maximum of one lakh rupees for the limited liability partnership and fifty thousand rupees for every designated partner.
(6) Any limited liability partnership which fails to comply with the provisions of sub-section (1), sub-section (2) and sub-section (4), such limited liability partnership shall be punishable with fine which shall not be less than twenty-five thousand rupees, but may extend to five lakh rupees and every designated partner of such limited liability partnership shall be punishable with fine which shall not be less than ten thousand rupees, but may extend to one lakh rupees.]
Section 34, The Limited Liability Partnership Act, 2008 (Act 6 of 2009).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 2
Made under this section, and citing it
3 instruments name this provision in its title or its text without being made under it.
Questions about Section 34
What does Section 34 of the Limited Liability Partnership Act deal with?
Section 34 of the Limited Liability Partnership Act is headed "Maintenance of books of account, other records and audit, etc". 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 pe
How do I find court cases under Section 34 of the Limited Liability Partnership Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Limited Liability Partnership Act 34, section 34 Limited Liability Partnership Act, section 34 of the Limited Liability Partnership Act. People searching for it also type llp act 34 4 and llp act 2008 section 34. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 34 of the Limited Liability Partnership Act, and has it changed?
2 other provisions in this corpus refer back to it. 3 instruments name it without being made under it, most recently Corrigendum to LLP amendment rules, 2012 (GSR 430(E) dated 5th June 2012): G.S.R 485(E) (220 KB) (2012), then Limited Liability Partnership (Winding up and Dissolution) Rules, 2012: G.S.R. 550(E) (8 MB) (2012).
When did Section 34 of the Limited Liability Partnership Act come into force?
Section 34 of the Limited Liability Partnership Act, cited as Limited Liability Partnership Act 34, came into force on 31 Mar 2009, having been enacted on 07 Jan 2009. It is in force as at the date shown on this page.
Other sections of this Act
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 14 Oct 2026. This page is not a substitute for legal advice.