Income tax on income from salary, sole proprietary and LLP

Tax will be calculated on the basis of your salary income and also tax on professional income also be calculated on the basis of book profits

Taking consideration to all your income in form of salary, commission,from research work,from LLP and other sources of income also

LLP is no more covered under presumptive taxation w.e.f FY 2021-22. Salary Income is taxable under the head salary. Freelance Research income is taxable under the head business/profession or income from other sources depending on quantum of income as well as expense. Only the Remuneration and interest on capital from the LLP shall add to your income in the personal tax return. Share of profit from LLP is exempt.

Regards
CA. Raj Doshi
www.rcdco.in