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The financial year of an LLP runs from 1st April to 31st March; however, for an LLP incorporated after 30th September of a year:
AThe financial year may end on 31st March of the year next following
BIt must close on 31st December
CIt must close within six months
DIt has no financial year
Answer & Solution
Correct answer: A. The financial year may end on 31st March of the year next following
For an LLP incorporated after 30 September, the first financial year may extend to 31 March of the year next following that year.
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