How is llp taxed?

Hi,

I hope that this finds you well

1. Partners may or may not withdraw the salary. Its not binding.

2. As per Income tax Act and LLP Agreement

3. 30% to be paid on the profit available after expenses and salary.

Note: From taxation point of view, LLP is treated as Partnership firm

For any further clarification, please revert.

Regards,

Kiran T

https://startcompanyinindia.com/

thanks alot dear...i was not knowing even the ABCD of LLP..now i come to no sumthing..

hey can i know about the concept of mat in llp???

and the amt of mat credit available??

1. Calculate regular income tax of LLP

2. Calculate Adjusted Profits

3. Calculate MAT on Adjusted total Income @ 19.055% (18.5% + Ed.Cess @ 2% + SHE Cess @ 1%)

4. If the Tax as per MAT is less than regular tax then the Tax payable by LLP will be regular Tax and if the Tax as per MAT is greater than regular tax then the Tax payable by LLP will be the amount of tax as per MAT.

5. The excess amount of MAT over regular tax can be claimed as MAT credit in subsequent years