Tds on llp
Sayed Nabil (385 Points)
23 June 2021
kya LLP ek company hai aur ispay tds company wala karayga ya non company wala
12 Replies
prasad Nilugal
(3914 Points)
Replied 23 June 2021
LLP is not company , it's Limited Liability partnership Ship firm govern as per LLP Act 2008 ,and TDS applicable as per Income tax act .
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 23 June 2021
LLP is not a company. Rates as applicable to non-corporate deductees applicable to LLP as well
Sayed Nabil
(385 Points)
Replied 23 June 2021
1% se tds katayga kya LLP kay upper jo individual transporter pe kat ta hai
Lotus Agrawal
(Practice)
(1361 Points)
Replied 23 June 2021
Poornima ji, I think TDS @ 2% shall be levied on payments to LLP.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 24 June 2021
@ Sayed
No no. Actually rate as applicable to individuals is not applicable to LLP because LLP is not an individual. I wanted to communicate that while paying tax you may select non-corporate deductee in the challan in case of LLPs. Seems like I got confused and mixed it up. Deduct 2% in this case. Sorry for the confusion.
@ lotus
Thanks for correcting me.
veerendar singh
(tax consultant)
(3301 Points)
Replied 26 June 2021
Matlab bada hi simple ha
llp ko na to individual wala rate lagega aur na hi company wala.
llp ko llp wala rate lagega
llp ko na to individual wala rate lagega aur na hi company wala.
llp ko llp wala rate lagega
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 26 June 2021
@ Sayed,
There is no specific rate for LLP as such. You may choose the rate as applicable to RESIDENT PERSON OTHER THAN INDIVIDUAL/HUF. For example, 2% in case of TDS u/s 194C.
For more, refer the link: https://cleartax.in/s/section-194c-tds-on-contractor
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