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

    This return is applicable for an Individual or Hindu Undivided Family (HUF), who is Resident other than not ordinarily resident or a Firm (other than LLP) which is a Resident having Total Income up to ₹ 50 lakh and having income from Business or Profession which is computed on a presumptive basis (u/s 44AD / 44ADA / 44AE) and income from any ...

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

    Jul 24, 2019 · Income Tax Rate of LLP as applicable for the Assessment Year 2020-2021. 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.

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  5. taxguru.in › income-tax › llp-private-limitedLLP v/s Private Limited Company – Taxation Comparison

    Aug 29, 2020 · 1. Rate of Tax. ♥ LLP: The Rate of tax applicable to LLP is flat 30%. For income tax purpose, LLP is treated at par with partnership firms. Surcharge: The amount of income-tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees.

  6. taxguru.in › corporate-law › limited-liabilityLimited Liability Partnership (LLP) – Legal Provisions & Taxation

    Mar 22, 2023 · LLPs are taxed differently from traditional partnerships and companies in India. The income of an LLP is taxed at the flat rate of 30% (plus surcharge and cess, as applicable) on the total income. However, the partners of an LLP are not taxed on the income that is earned by the LLP.

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

    Oct 18, 2023 · 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%.

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

    Aug 9, 2018 · Article explains Taxation of Partnership Firms /LLP which includes Income Tax Rate applicable, Provisions related to Interest and Remuneration to Partners/Designated Partners, Conditions for assessment as a firm, Partners’ assessments, Losses of the firm, Due dates for filing return of firm, Allowability of remuneration and interest vis-a-vis pr...

  9. taxguru.in › company-law › comprehensive-analysisLLP: Advantages, Disadvantages, Taxation & Steps to ...

    May 31, 2021 · Tax Rate: For the Financial Year 2021-22 (i.e., Assessment Year 2022-23), the tax rate applicable to LLP is 30%. Surcharge: If the total taxable income of the LLP is more than INR 1 crore, surcharge @ 12% is applicable.

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