Industries
LLPs & Partnership Firms
Registration, annual filings and taxation for partnership structures.
Overview
Partnership structures are flexible, but their tax and compliance rules — on partner remuneration, interest on capital and annual filings — need careful attention. We help partners stay compliant and plan distributions sensibly.
Key considerations
- Partner remuneration
- Deductibility of remuneration and interest to partners is subject to limits and conditions in the Income-tax Act.
- LLP filings
- LLPs must file annual statements and returns regardless of business activity.
- Deeds and agreements
- Your deed or LLP agreement should reflect how the business actually operates.
- Conversion
- Converting between structures can be tax-neutral only when specific conditions are met.
Relevant services
LLP Registration
Incorporation of Limited Liability Partnerships and drafting of LLP agreements.
Partnership Firm Registration
Drafting of partnership deeds and registration with the Registrar of Firms.
LLP Annual Filings
Annual statement of accounts, annual return and event-based filings for LLPs.
Income Tax Return (ITR) Filing
Accurate preparation and filing of income-tax returns for individuals, HUFs, firms, LLPs, companies and trusts.
Tax Audit
Audit of accounts and reporting in the prescribed form under the Income-tax Act.
Business Structuring Advisory
Choosing and evolving the right legal and tax structure for your business.
Discuss your llps & partnership firms requirements.
Tell us about your situation. We will explain what applies, what we need from you and how we would approach the work.