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How to File Income Tax Return for LLP

Income Tax Return for LLP

Every LLP formed in India is obliged to file an income tax return under Section 139(1) of the Income Tax Act of 1961. LLP partners are in charge of submitting their annual income taxes. As an LLP partner, you probably have concerns about how to file your LLP’s income tax return. What is the process for filing an LLP’s income tax return? The LLP’s income tax rate? The process for Income Tax Return for LLP covered in this article.

S.NoIncome TaxTax RateFinancial Year
1.Income Tax30%FY 2019-20
2.Surcharge if total income exceeds Rs. 1 crore12%FY 2019-20
3.Health and Education cess4%FY 2019-20


Documents Required Tax Return Filing for LLP

Financial statements are summarised in the Income Tax Return for LLP. What is an LLP financial statement, you ask? Financial statements for LLP include a balance sheet and a profit and loss statement. The founding partners of an LLP must compile the LLP’s books of accounts in order to file its income tax return. LLP might keep its books on an accrual basis or a cash basis. The list of documents needed for LLP tax return filing is shown below.

  • LLLP PAN , Address Details , Date of registration
  • Partner PAN , Adhar & Address , Contact details
  • Purchase & Sales Book
  • General Ledger
  • Cash Book
  • Bank Book
  • Expenses Invoices , Bill , Vouchers etc.

Procedure to File Income Tax Return for LLP

For the filing of LLP Income Tax returns, ITR Form 5 is appropriate. Each LLP registered in India is required to submit an annual tax return. You may get ITR Form 5 from the income tax website. The LLP’s income tax return filing process is finished online. For income tax filing, a digital signature from an authorised partner is needed. The steps for submitting an LLP tax return are shown below.

  1. Register LLP on Income Tax Site
  2. Prepare LLP Balance Sheet
  3. Prepare Profit & Loss statement
  4. Prepare income tax computation sheet of LLP
  5. Pay LLP Income Tax online
  6. Download Income Tax Form 5
  7. Fill LLP & Financial information
  8. Upload ITR With DSC of Partner
  9. E Verify Income Tax Return

LLP Financial Statement Audit

A detailed account of LLP’s annual transactions is included in the financial statements. Financial statements are created based on the books of accounts. It includes a profit and loss statement and LLP balance sheet. Similar to a private limited company, there is no set structure for LLP financial statements to be prepared in. According to Section 34(4) of the Act, the accounts of the LLP must be audited by a Chartered Accountant if the turnover exceeds Rs. 40 lakhs or the capital exceeds Rs. 25 lakhs.

LLP must choose a chartered accountant to conduct its annual LLP audit. The LLP’s books of accounts must be verified, and an audit report must be issued.

Due Date fot LLP Income Tax Return Filing

Annual compliance for LLP involves the submission of income tax returns. LLPs are independent legal entities from their partners. Partners must submit an annual LLP tax return. The deadline for LLP No Audit cases to file income taxes is July 31. The deadline for submitting taxes in the LLP & Audit case is September 30.


No matter the LLP’s yearly turnover, LLP income tax filing is required. The LLP’s yearly revenue or the capital contribution of its partners determine the tax filing deadline. Online forms are used to file LLP tax returns. Partners in an LLP are in charge of preparing and filing the LLP tax return. The LLP’s income tax rate is 30%, plus a surcharge and an education cess. In the case of a foreign LLP, the Income Tax Return for LLP process is the same.

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