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  2. 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

  3. Apr 1, 2023 · The rates of income tax, surcharge, HEC and AMT, applicable in the case of partnership firms/LLPs in India in respect of AY 2023-24, are as follows: Income Tax Rates. 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.

  4. 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).

  5. May 22, 2024 · Under the old tax regime, taxpayers can benefit from various exemptions and deductions. It includes HRA, LTA, standard deduction, and deductions under Section 80C, 80D, etc. The income tax slabs for FY 2023-24 (AY 2024-25) as per Old Regime are as follows: Income Range (₹) Tax Rate (%) Up to ₹2.5 lakh. Nil.

  6. Income tax rate for Partnership firm or LLP as per old/ new regime. A partnership firm/ LLP is taxable at 30%. NOTE: 12% Surcharge is levied on income is more than Rs 1 crore; Health and Education Cess at the rate of 4% will be applicable; No concessional rates are introduced for firms LLPs in the next tax regime

  7. May 6, 2024 · Income Tax Rate for Partnership Firm or LLP as Per Old/New Regime. Discover the Latest Income Tax Rates for LLP (Limited Liability Partnerships) in India. Stay informed about the updated tax brackets and regulations for LLPs in the fiscal year. Expert insights on income tax rates for LLPs in 2023 to ensure accurate financial planning.

  8. Aug 9, 2018 · 1. 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. 2019-20 health and education cess ...

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