True False LLP is engaged in the business of providing logistics solutions to shipping companies. Average net profit for the last 3 years is ₹14 crore. Accordingly, it is not mandatory for True False LLP to maintain book

As per Rules 24(1) of the Limited Liability Partnership Rules, 2009, every Limited Liability Partnership shall keep books of account which are sufficient to show and explain the limited liability partnership's transactions and are such as to: disclose with reasonable accuracy, at any time, the financial position of the limited liability partnership at that time; and enable the designated partners to ensure that any Statement of Account and Solvency prepared under this rule complies with the requirements of the Limited Liability Partnership Act, 2008. Every Limited Liability Partnership shall file the Statement of Account and Solvency in Form 8 with the Registrar, within a period of thirty days from the end of six months of the financial year to which the Statement of Account and Solvency relates to. Accordingly, True False LLP is also required to maintain books of accounts.