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Jul 26, 2020 · Taxation for Limited Liability Company. The LLP taxation norms are more or less identical to that of a partnership firm. Since partnership firms deem as a separate taxable entity, they need to bear the income tax @ 30% + education cess @ 2% + secondary and higher education cess @ 1%. A private limited company also follows these norms.
Following entities must file Income Tax Returns: Individuals with a total income that is more than the exempted limit. All firms, including Limited Liability Partnerships (LLP) and Unlimited Liability Partnerships (ULP). Any resident or foreign, public or private entity doing business or located in India.
Mar 22, 2022 · Mobile No. Taxation for Limited Liability Company. The LLP taxation norms are more or less the same as that of a partnership firm. Since partnership firms think as a split taxable entity, they require to stand the income tax @ 30% + education cess @ 2% + secondary and higher education cess @ 1%.
Feb 28, 2024 · Health & education Cess: Further 4% of income tax calculated and applicable surcharge will be added to the amount of total tax liability before this cess. Minimum Alternate Tax (MAT): Alternatively, all the companies (including foreign companies) are required to pay minimum alternate tax at the rate of 15% on book profits if the tax calculated as per above rates are less than 15% of book profits.
May 23, 2020 · Limited Liability Partnership : The entity is treated as a tax resident of India and is liable to pay @30% surcharge and cess as applicable. It is mandatory to obtain a PAN and TAN, and file an annual return of income.
May 4, 2023 · Taxation For Limited Liability Company. In case of taxation in a private limited company, the policy followed is that it is treated as a separate legal entity, distinct from its key functionaries. Moreover, in a private limited company, taxation is at the rate of 30%.
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May 29, 2023 · An LLC provides several advantages, including limited liability protection, ease of formation, and flexibility in management. In this blog post, we will delve into the process of registering an LLC in India in 2023, highlighting the key steps and requirements.
