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  3. www.incometax.gov.in › help › partnership-firm-llpPartnership Firm / LLP for AY 2024-25 | Income Tax Department

    Tax Slabs for Partnership Firm / LLP for AY 2024-25. For the AY 2024-25, a Partnership Firm (including LLP) is taxable at 30%. Surcharge, Marginal Relief and Health & Education Cess

  4. fintaxblog.com › income-tax-rates-partnershipIncome Tax Rates for Partnership Firms/ LLPs in India (AY ...

    Apr 1, 2023 · A flat rate of 30% income tax is applicable for the partnership firms (registered or unregistered) and limited liability partnerships (LLPs) in India in respect of AY 2023-24. Surcharge Rates. In cases where the total income of a partnership firm or LLP exceeds Rs 1 crore, the surcharge at the rate of 12% on the amount of income tax shall be ...

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  6. taxguru.in › income-tax › taxation-of-limitedTaxation of Limited Liability Partnership (LLP) - Tax Guru

    Oct 7, 2020 · Page Contents. Tax Rates (For AY 2020-21) Tax Payment method. Return Filing Provisions. Due dates for filing of return. Computation of Income. Tax Rates (For AY 2020-21) Surcharge – 12 % (where taxable income including capital gain exceeds Rs. 1 crore). It is subject to Marginal relief.

  7. taxguru.in › income-tax › all-about-taxation-ofAll about Taxation of Partnership Firms / LLP - Tax Guru

    • Rate of Income tax applicable to Partnership Firm / LLP. Flat rate of 30% on the total income after deduction of interest and remuneration to partners/Designated Partners at the specified rates + Surcharge of 12% if Total Income exceeds 1 Crore and will be further increased by education cess secondary and higher education cess @ 3% on Income-tax (Wef A.Y.
    • Rate of Interest to Partners of Partnership Firm / LLP. from 1-6-2002. up to 31-5-2002. Simple Interest Rate. 18% p.a. 12%
    • Remuneration to Partners/Designated Partners 1. Payment of Remuneration to a non-working partner will not be allowed as a deduction 2. A ‘working partner’ is an individual who is actively engaged in conducting the affairs of the business or profession of the firm.
    • Conditions for assessment as a firm 1. The partnership should be evidenced by an instrument in writing specifying individual shares of the partners. 2.

  8. taxguru.in › income-tax › taxation-partnership-firmsTaxation of Partnership Firms and LLPs - Tax Guru

    Jan 6, 2020 · In India, LLP is taxed at 30%, and the post tax profits are distributed to the partners with no additional tax liability (similar to a pass-through entity in the US). Can a US citizen who is a partner of this Indian LLP get credit for the 30% tax paid in India when the US citizen files individual taxes in the US.

  9. incometaxindia.gov.in › Charts Tables › Tax ratesTax Rates - Central Board of Direct Taxes

    a. Surcharge : Surcharge is levied on the amount of income-tax at following rates if total income of an assessee exceeds specified limits:-. Note: The enhanced surcharge of 25% or 37% is not levied, on income by way of dividend or from income chargeable to tax under sections 111A, 112, 112A and 115AD (1) (b).

  10. www.legalwiz.in › blog › llp-taxation-income-taxLLP Taxation: Income Tax & Alternate Minimum Tax (AMT)

    Jul 24, 2019 · The LLP is liable to pay income tax @30% on its income. In case the total income exceeds INR 1 Crore, LLP is also liable to pay surcharge @12% on the income tax. Additionally, health and education cess of 4% is payable on the income tax plus surcharge. Alternate Minimum Taxation (AMT)

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