Thursday, October 6, 2011

Income tax rates LLP AY 2012-13 2011-12 2010-11 (limited liability partnership firm)


By on 9:25 AM

Income tax rates of LLP(limited partnership Firm ) is listed out for assessment year 2012-13 , 2011-12 and 2010-11.The basic rates has no change in last three year . However from assessment year 2012-13 ,Alternate Minimum  Tax (AMT) has been introduced from ay 2012-13 for LLP also .Income tax rates for LLP last three years has given in the table below.


LLP (Concept introduced from AY 2010-11) 
2009-10
2010-11
2011-12
2012-13
Tax Rate
-
30%
30%
30%
Surcharge  (if net income exceeds 1 Crore)
-
-
-
-
Alternate Min. Tax (AMT) (% of adjusted total income) (115JC to 115 JF )
-
-
-
18.5%
Edu. Cess & SHE Cess
-
3%
3%
3%
Note: 115JC
(I) Where the regular tax of LLP is less than the AMT on adjusted total income, LLP shall be liable to pay AMT
(ii) Adjusted total income shall be the total income increased by deduction claimed, if any, under any section included in chapter VIA and deduction claimed if any u/s 10AA
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About Syed Faizan Ali

Faizan is a 17 year old young guy who is blessed with the art of Blogging,He love to Blog day in and day out,He is a Website Designer and a Certified Graphics Designer.

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