Define the term ‘Small limited liability partnership' as per the provisions of the Limited Liability Partnership Act, 2008.

According to section 2 (1) (ta) of the Limited Liability Partnership Act, 2008, small limited liability partnership means a limited liability partnership: (i) the contribution of which, does not exceed 25 lakh rupees or such higher amount, not exceeding 5 crore rupees, as may be prescribed; and (ii) the turnover of which, as per the Statement of Accounts and Solvency for the immediately preceding financial year, does not exceed 40 lakh rupees or such higher amount, not exceeding 50 crore rupees, as may be prescribed; or (iii) which meets such other requirements as may be prescribed, and fulfils such terms and conditions as may be prescribed.