Shweta Saboo & Co.

ITR For Limited Liability Partnerships

Every Limited Liability Partnership (LLP) registered in India is required to file an Income Tax Return (ITR) annually, regardless of whether it has earned profits or incurred losses during the year.

LLPs are taxed separately as a partnership firm under the Income Tax Act, 1961, and benefit from a flat tax rate structure.

Filing accurate and timely ITR not only ensures compliance but also helps LLPs claim eligible deductions, avoid penalties, and maintain a strong financial track record for business growth, loans, and tenders.

Our expert team offers comprehensive support to manage your LLP's tax filings efficiently, ensuring error-free returns and peace of mind.

Key Features

Comprehensive ITR Filing for LLPs

Support for all types of LLPs — operational, non-operational, or newly incorporated.

Flat Tax Rate Structure

LLPs are taxed at 30% of total income plus applicable surcharge and cess.

Mandatory Filing Even for Zero Income

LLPs must file returns even if there is no revenue or activity during the financial year.

Audit Support

If the annual turnover exceeds ₹1 crore, audit requirements under the Income Tax Act are managed efficiently.

Seamless E-filing and E-verification

Quick and secure online filing along with complete support for e-verification of returns.

Advance Tax Compliance

Proper calculation and payment of advance tax to avoid interest penalties under Sections 234B and 234C.

Foreign LLP Filing Assistance

Special filing support for LLPs having foreign partners or income from international sources.

Information Checklist

Basic Details:

PAN Card of LLP
LLP Agreement
Certificate of Incorporation
Details of Partners (PAN, Aadhaar, Contact Information)

Financial Details:

Profit and Loss Account
Balance Sheet as on 31st March
Bank Statements of LLP
Details of Fixed Assets, Loans, and Advances

Income Details:

Revenue from Sales/Services
Rental or Other Income
Interest Income (if any)

Expense Details:

Salary and Remuneration to Partners
Rent, Utility Bills, Internet Bills
Professional Fees Paid
Travel and Conveyance Expenses
Depreciation on Assets

Tax Payment Details:

TDS/TCS Payment Details (if applicable)
Advance Tax Challans Paid

Other:

Previous Year's ITR (if applicable)
Form 26AS (Tax Credit Statement)
Details of Foreign Income/Foreign Assets (if any)

FAQs

Is filing Income Tax Return mandatory for LLPs even if there is no income?

Yes, every LLP registered in India must file an Income Tax Return annually, irrespective of turnover or income during the financial year.

Which ITR form is applicable for LLPs?

LLPs are required to file their return using ITR-5 form under the Income Tax Act, 1961.

What is the due date for LLP Income Tax Return filing?

The due date is generally 31st July for LLPs not requiring audit and 31st October for LLPs whose accounts require audit under the Income Tax Act or LLP Act.

What is the audit requirement for an LLP?

If the LLP’s turnover exceeds ₹1 crore in a financial year, it must get its accounts audited under the Income Tax Act. Additionally, audits under the LLP Act may be required if turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh.

At what rate is the income of an LLP taxed?

The taxable income of an LLP is taxed at a flat rate of 30%, plus applicable surcharge and health & education cess.

Can an LLP opt for presumptive taxation under Section 44AD?

No, the presumptive taxation scheme under Section 44AD is not available for LLPs. It is only applicable to individuals, HUFs, and partnership firms (other than LLPs).

What penalties apply for late filing of LLP ITR?

Late filing can attract a penalty of ₹5,000 if filed before 31st December of the assessment year, and ₹10,000 if filed afterward, under Section 234F of the Income Tax Act.

Is advance tax applicable to LLPs?

Yes, if the total tax liability exceeds ₹10,000 in a financial year, LLPs are required to pay advance tax in quarterly installments.

What documents are needed for LLP ITR filing?

You will need the LLP’s PAN, financial statements (P&L account and Balance Sheet), bank statements, and details of taxes paid (TDS, advance tax) among others.

Can LLPs claim deductions under Chapter VI-A like individuals?

Yes, LLPs can claim eligible deductions like donations (80G), and other business-related deductions, but personal tax-saving options under Section 80C are not available.