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1. • • LLPs are taxed at a flat rate of 30% on their profits, while companies are subject to a higher tax rate of 25% to 30%.
     vakilsearch.com › blog › tax-benefits-of-llp-and-how-to-maximise-them

     The Tax Benefits of LLP and How to Maximise Them - Vakil Search

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   What is the income tax rate for LLP in India?

   • The income tax rate applicable for LLP registered in India is a flat 30% on the total income. In addition to the income tax, a surcharge is levied on the income tax payable at the rate of 12% when the total income exceeds Rs.1 crore. In addition to income tax a 4% Health & Education surcharge is also applicable on the income of a LLP.

   Income Tax Rate for LLP – AY 2019-20 - IndiaFilings

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   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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   Is LLP taxed like a partnership firm in India?

   • Limited liability partnership (LLP) is a relatively new type of business entity in India. Previously, there used to be concerns whether a LLP would be taxed like a Private Limited Company or Partnership Firm. However, the Finance Act, 2009 has amended the Income Tax Act and confirmed that LLP would be taxed like a Partnership Firm.

   Limited Liability Partnership LLP Taxation - IndiaFilings

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   How much income tax does a LLP pay?

   • 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.

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

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3. vakilsearch.com › blog › tax-benefits-of-llp-and-howThe Tax Benefits of LLP and How to Maximise Them - Vakil Search

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   Apr 3, 2023 · Tax Rates for LLPs in India. One of the significant tax benefits of LLPs is their lower tax rates compared to companies. LLPs are taxed at a flat rate of 30% on their profits, while companies are subject to a higher tax rate of 25% to 30%. Additionally, LLPs are not subject to the surcharge and cess that companies have to pay.

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

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   • 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.

5. bangaloreicai.org › images › iconsTax and regulatory aspects relating to LLPs

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   History and evolution. From an international context, LLPs have been prevalent in large number of countries including US, UK, Canada and Singapore . In US, UK and Singapore LLPs are also considered fiscally transparent for income and corporation tax purposes.

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

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   Dec 17, 2019 · Income of a partnership firm is taxed at 30% plus 2% education cess plus 1% secondary and higher education cess – similar to a private limited company. Taxation on LLP Partner Remuneration & Interest.

7. 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.

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

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   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.

9. www.indiafilings.com › learn › income-tax-rate-forIncome Tax Rate for LLP – AY 2019-20 - IndiaFilings

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   Oct 7, 2021 · The income tax rate applicable for LLP registered in India is a flat 30% on the total income. In addition to the income tax, a surcharge is levied on the income tax payable at the rate of 12% when the total income exceeds Rs.1 crore.