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1. www.cagmc.com › llp-taxationLLP Taxation | What are the Taxation Aspects of LLP? - CAGMC

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   Sep 22, 2021 · Flat rate of 30%. Surcharge (if income exceeds Rs.1 crore) 12% on tax above. Health and Education Cess. 4% of income tax and surcharge. Alternate Minimum Tax (AMT)-. A LLP is liable to pay AMT at the rate of 18.5% (plus surcharge and Health and Education Cess as applicable) if it has claimed following deductions-.

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

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   Section 2 (1) (n) of the Limited Liability Partnership Act, 2008 defines “Limited Liability Partnership” as a partnership formed and registered under the Act. It is a distinct legal entity separate from its Partner. 1. ITR-4 (SUGAM) – Applicable for Individual, HUF & Firm (other than LLP) This return is applicable for an Individual or ...

3. People also ask

   Does LLP pay income tax if income exceeds 1 crore?

   • 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. Initially, the concept of MAT, i.e. Minimum Alternative Tax, was introduced only for the companies.

   LLP Taxation: Income Tax & Alternate Minimum Tax (AMT)

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   How much tax should an LLP pay?

   • An LLP should pay a 30% fixed rate tax on its total income. When its total income exceeds Rs.1 crore, the income tax amount is increased by a surcharge of 12%. When a Pvt Ltd company earns less than Rs.400 crores, it should pay a tax of 25%. When the company’s annual revenue exceeds Rs.400 crores, it must pay a 30% tax.

   Private Limited Company vs LLP - ClearTax

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   What is LLP taxation in India?

   • In this article, we look at the major aspects of LLP taxation in India. To compare and contrast, we first look at Private Limited Company taxation policy. A private limited company is treated as a separate legal entity and its income is taxed at the rate of 30%.

   Limited Liability Partnership LLP Taxation - IndiaFilings

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   Does LLP pay income tax?

   • Following the above definitions, it is easy to conclude that under Income Tax, the LLP taxation treatment remains the same as a Firm. 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.

   LLP Taxation: Income Tax & Alternate Minimum Tax (AMT)

   www.legalwiz.in/blog/llp-taxation-income-tax-alternate-minimum-tax-amt

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4. cleartax.in › s › private-limited-company-vs-llpPrivate Limited Company vs LLP - ClearTax

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   Oct 18, 2023 · LLP vs Pvt Ltd Taxation. An LLP should pay a 30% fixed rate tax on its total income. When its total income exceeds Rs.1 crore, the income tax amount is increased by a surcharge of 12%. When a Pvt Ltd company earns less than Rs.400 crores, it should pay a tax of 25%. When the company’s annual revenue exceeds Rs.400 crores, it must pay a 30% tax.

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

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   Oct 7, 2020 · Surcharge – 12 % (where taxable income including capital gain exceeds Rs. 1 crore). It is subject to Marginal relief. Health and Education Cess – 4 % (on the amount of income tax and surcharge) Alternative Minimum Tax – Tax payable by firm can’t be less than 9% (Plus Cess) of adjusted total income as per Sec. 115 JC.

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

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   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.

7. taxguru.in › corporate-law › llp-registration-indiaLLP Registration in India and how it is different from company?

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   12 hours ago · LLPs is required pay tax at a flat rate of 30% of their total income, along with surcharge of 12% if it’s total income exceeds rupees one crore, on the other hand, if a Private Limited company earns less than rupees 400 crores in the previous year, then a 25% tax is payable and in case the annual revenue exceeds rupees 400 crores, the company ...

8. www.indiafilings.com › learn › limited-liabilityLimited Liability Partnership LLP Taxation - IndiaFilings

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   Dec 17, 2019 · A private limited company is treated as a separate legal entity and its income is taxed at the rate of 30%. In addition to the income tax, education cess of 2% and 1% secondary and higher education cess is also levied. A surcharge of 5% is applicable when the taxable income exceeds Rs.1 crore. In addition to the income tax, if the private ...