Period of payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 June 2013
What is the payment period of Service Tax in case of LLP?? i.e Quarterly or Six Monthly
Ganeshbabu K
(Expert)
20 June 2013
it is quarterly as same as normal partnership..
First proviso to Rule 6(1) states that partnership firm is required to pay tax quarterly. The rule does not specify whether the partnership is a partnership with limited liability or unlimited liability. Thus, both the partnership with unlimited liability governed by the provisions of Partnership Act, 1932 as well as LLP, both will have to pay tax quarterly.
Thanks & regards
Ganesh babu k
First proviso to Rule 6(1) states that partnership firm is required to pay tax quarterly. The rule does not specify whether the partnership is a partnership with limited liability or unlimited liability. Thus, both the partnership with unlimited liability governed by the provisions of Partnership Act, 1932 as well as LLP, both will have to pay tax quarterly.
Thanks & regards
Ganesh babu k
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