Formation expenditure of llp

It is to be shown as Preliminary Expenses under Miscellenous Expenses which will be amortised in the subsequent years.

OK..and can i claim deduction u/s 35D of the amortised value?

Yes you can.

No, we can't claim deduction - 

LLP may not qualify for certain deductions :

S. 35D – Amortization of certain preliminary expenses

S. 35DD – expenditure in respect of amalgamation / demerger

S. 35(2AB) – weighted deduction for Scientific Research and Development Tax neutrality on amalgamation / demerger – S. 47(vi), (via), (vib), (vid),(vii)

S. 80-IA(4)(i) – deduction on profits of infrastructure projects Jun

https://www.wirc-icai.org/(X(1)S(xjwsn245ogvrjo45w0as402l))/material/Tax-issues-in-LLP.pdf

Please refer this link for this