269. Audit fees.
Audit fees on the gross amount brought to credit, including the unrealized or unrecovered contribution of the partners on partners interest on investments and rents from properties, but after deducting (a) the amount spent out of the money received in carrying on the business of the LLP and (b) the amounts paid by the Liquidator to secured creditors (other than debenture holders), shall be paid to the auditor and debited to the account of the liquidation to which the audit relates according to the following scale:-
(a) On the amount brought to credit including the unrealized or unrecovered contribution, interest on investments and rents from properties, but after deducting (a) the amount spent out of the money received in carrying on the business of the LLP, and (b) amounts paid by the Liquidator to secured creditors other than debenture holders …..½ per cent
(b) On disbursements, other than payments to secured creditors not being debenture holders …..½ per cent;
Provided that the minimum audit fee for the account of the Liquidator shall be not less than Rs. 2500/- in respect of one LLP for a period of one year and the maximum audit fee shall be Rs. 25,000/- for the audit of account of a LLP for one year subject to variation of 25% of the aforesaid fee at the discretion of the Member or Tribunal for reasons to be recorded in writing. |