Should LLP partners pay income tax on their profit share?

This discussion clarifies whether partners in a Limited Liability Partnership (LLP) need to pay individual income tax on their profit share after the LLP has already paid its tax. The consensus is that a partner's share of profit from an LLP is exempt from tax in their hands. However, partners must still disclose this profit share when filing their personal Income Tax Return (ITR) if their total income from all sources exceeds the taxable threshold.