ITR – LLP (ITR-5)

Every LLP registered in India has to file an income tax return for each financial year, even one with no business activity and no bank transactions. The return is filed in Form ITR-5 under the Income-tax Act, 1961, and an LLP is taxed at a flat rate with no slab benefit, plus surcharge and cess as applicable.

The filing itself is quick; the reconciliation is not. Turnover declared in GST returns has to agree with the profit and loss account, TDS credits in Form 26AS and the AIS have to be matched to income, partner remuneration and interest have to sit within the limits allowed by law and by your LLP agreement, and disallowances have to be identified before filing.

Our in-house team prepares the computation, flags remuneration or interest that is not allowable, tells you whether a tax audit is triggered, and files using the designated partner's DSC. You receive the filed return, the computation and the acknowledgement together.

The process

100% digital and hassle-free