I am a partner in LLP that has profits.
I am having long term capital gains.
Which form should be used for LLP and which form for personal
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Which itr forms
Replies (2)
ITR5 for LLP & ITR3 for partners.
thanks,
can you help me understand few things.
Is it mandatory for partners to receive interest from LLP on amounts spent for running of business?
I have LTCG of 45 L. If my share of profits exceed 10 L from LLP, will I have to pay 10% surcharge as it exceed 50L or is the profit from LLP doesnt count towards the limit of 50L for surcharge?
If so any way I can avoid this surcharge by not taking profits this year and pushing to next year as this high LTCG is only for this year
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