TDS on LLP Rates and Applicability Explained

prasad Nilugal

3924 Points Posted on 23 June 2021

LLP is not company , it's Limited Liability partnership Ship firm govern as per LLP Act 2008 ,and TDS applicable as per Income tax act .

CMA Poornima Madhava

CMA

13117 Points Posted on 23 June 2021

LLP is not a company. Rates as applicable to non-corporate deductees applicable to LLP as well

Sayed Nabil

386 Points Posted on 23 June 2021

1% se tds katayga kya LLP kay upper jo individual transporter pe kat ta hai

CMA Poornima Madhava

CMA

13117 Points Posted on 23 June 2021

Yes, you are right

Sayed Nabil

386 Points Posted on 23 June 2021

Thnk you cma poornima madhava

Lotus Agrawal

Practice

1361 Points Posted on 23 June 2021

Poornima ji, I think TDS @ 2% shall be levied on payments to LLP.

CMA Poornima Madhava

CMA

13117 Points Posted on 24 June 2021

@ Sayed

No no. Actually rate as applicable to individuals is not applicable to LLP because LLP is not an individual. I wanted to communicate that while paying tax you may select non-corporate deductee in the challan in case of LLPs. Seems like I got confused and mixed it up. Deduct 2% in this case. Sorry for the confusion.

@ lotus

Thanks for correcting me.

Lotus Agrawal

Practice

1361 Points Posted on 24 June 2021

It's alright poornima ji.

veerendar singh

tax consultant

3306 Points Posted on 26 June 2021

Llp pe llp wala rate lagega

Sayed Nabil

386 Points Posted on 26 June 2021

Matlab @ veerendar singh

veerendar singh

tax consultant

3306 Points Posted on 26 June 2021

Matlab bada hi simple ha
llp ko na to individual wala rate lagega aur na hi company wala.
llp ko llp wala rate lagega

CMA Poornima Madhava

CMA

13117 Points Posted on 26 June 2021

@ Sayed,

There is no specific rate for LLP as such. You may choose the rate as applicable to RESIDENT PERSON OTHER THAN INDIVIDUAL/HUF. For example, 2% in case of TDS u/s 194C.

For more, refer the link: https://cleartax.in/s/section-194c-tds-on-contractor