Production of documents and evidence (1) It shall be the duty of the designated partner and partners of the limited liability partnership (a) to preserve and to produce before an inspector or any person authorised by him in this behalf with the previous approval of the Central Government, all books and papers of, or relating to, the limited liability

Power of inspectors to carry out investigation into affairs of related entities, etc (1) If an inspector appointed by the Central Government to investigate the affairs of a limited liability partnership thinks it necessary for the purposes of his investigation to investigate also the affairs of an entity which has been associated in the past or is presently associated

Firm, body corporate or association not to be appointed as inspector No firm, body corporate or other association shall be appointed as an inspector. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company

Application by partners for investigation An application by partners of the limited liability partnership under clause (a) of sub-section (1) of section 43 shall be supported by such evidence as the Tribunal may require for the purpose of showing that the applicants have good reason for requiring the investigation and the Central Government may, before appointing an inspector, require the applicants

Investigation of the affairs of limited liability partnership (1) The Central Government shall appoint one or more competent persons as inspectors to investigate the affairs of a limited liability partnership and to report thereon in such manner as it may direct if (a) the Tribunal, either suo motu, or on an application received from not less than one-fifth of

Partners transferable interest (1) The rights of a partner to a share of the profits and losses of the limited liability partnership and to receive distributions in accordance with the limited liability partnership agreement are transferable either wholly or in part. (2) The transfer of any right by any partner pursuant to sub-section (1) does not by itself cause the disassociation of the partner or

Enforcement of duty to make returns, etc (1) If any limited liability partnership is in default in complying with (a) any provisions of this Act or of any other law which requires the filing in any manner with the Registrar of any return, account or other document or the giving of notice to him of any matter; or (b)

Destruction of old records The Registrar may destroy any document filed or registered with him in physical form or in electronic form in accordance with such rules as may be prescribed. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing |

Compounding of offences (1) Notwithstanding anything contained in the Code of Criminal Procedure, 1973, the Regional Director or any other officer not below the rank of Regional Director authorised by the Central Government may compound any offence under this Act which is punishable with fine only, by collecting from a person reasonably suspected of having