Understanding Limited Liability Partnerships (LLPs) in India

[Applause] foreign a limited reliability partnership is a

partnership in which some of england or all partners have an foreign will be treated as a

partnership not as in a separate legal entity a partnership in the political tax

calculation assessment okay has a perpetual succession any being a separate legislation of the

provision of indian partnership act 1932 are not applicable to an llp llp regulatory in the llp act 2008

okay but they are taxed as a partnership partnership

in attacks every llp use the word limited reliability partnership

llp agreement is not a mandatory llp agreement demanded trailer but the

absence of llp agreement mutual rights and reliabilities of partnership on a tax in the trade to monday llp will

be treated as a partnership firm for the purpose of income tax income tax purposely number partnership is

assessment the income of llp will be charged to the tax in the hand of an llp only llp

attacks share of profit in the hand of a partner a

paid to the partners subject to the maximum also subjected to alternative minimum

tax which is similar to a match in case of company llp minimum alternative

sorry alternative minimum tax on a combination of alternative taxes is available only to the category

to the llp in that case the llp tax liability would be calculated as

a tax liability computed as per normal provision of the income tax

if in any year llp pays tax liability as per amt provision then it is endless

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