Easy Office
Easy Office

Llp

This query is : Resolved 

17 July 2013 Is an llp included in partnership firm for the definition of assesse or is this another addition to the list (of assessees)

17 July 2013 PARTNERSHIP FIRM – DEFINITION [SEC. 2(23)]

Section 2(23) of the Income-tax Act which defines "Firm", "Partnership" and "Partner" provides that these terms shall have meanings assigned to them under the Indian Partnership Act, 1932.

As per amendment made by Finance (No. 2) Act, 2009, a Limited Liability Partnership (LLP) is included in the definition of ‘Firm’, ‘Partnership’ and ‘Partner’.

Accordingly the provisions of Taxation applicable to a Partnership Firm constituted under Indian Partnership Act, 1932 will equally be applicable to a firm constituted under LLP Act, 2008.

17 July 2013 Agreed with the Expert..


17 July 2013 Thank you sir



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries