LLP Tax Filing

LLP Tax Return Filing

All Limited Liability Partnerships are required to file income tax return each year, irrespective of income or loss. If there was no business activity, then a NIL income tax return must be filed before the due date.

The income tax rate applicable for LLP registered in India is a flat 30% on the total income. In addition to the income tax, a surcharge is levied on the income tax payable at the rate of 10% when the total income exceeds Rs.1 crore.The deadline for LLP tax filing in India is July 31st. LLPs that are required to obtain a tax audit have 30th September as deadline for filing income tax return.

LLPs must file income tax return using Form ITR 5

 

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