Hello Everyone,
Can anyone help me in this regard?
I have a LLP. If a LLP gains profit of Rs.1Crore.The LLP pays tax @ 30.90%.
What will happen to the balance amount?
1) Will it be disturbed among the partners,
2) If yes, whether the same is exempted?
3) IF the partners are Companies,whether the disturbed amount will be taken for MAT?
Please Guide?
hi,
Remaining Profit will be distributed between partners.
and distributed profit will not attract tax liability in the hands of partner.....
these distributed profit will not taken into cansideration for MAT. FOR MAT CALCULATION ONLY LTCG GAIN FROM SHARES WHICH IS EXEMPT SHALL TAKEN INTO CONSIDERATION........
ENJOY.......
Thanks :):)
Jawahar and Associates Chartered Accountants
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