ITR for LLP (Limited Liability Partnership)

ITR (Income Tax Return) filing for LLPs is the process through which Limited Liability Partnerships report their income, expenses, profits, and taxes paid to the Income Tax Department. Unlike partnerships, LLPs are considered separate legal entities and must file their returns under the prescribed income tax forms. Timely and accurate ITR filing for an LLP ensures compliance with Indian tax laws, helps in claiming tax refunds, and avoids penalties and interest for late filings.

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Documents Required

Business and Tax Information

PAN Card of LLP
LLP Agreement
GST Registration Certificate (if applicable)
LLP’s Bank Account Statements

Financial Statements

Profit and Loss Statement
Balance Sheet
Capital Account Statements for Partners
Trial Balance (if applicable)

Tax and Deduction Documents

TDS Certificates (Form 16A, Form 16B, etc.)
Tax Payment Challans (if applicable)
Form 26AS (Tax Credit Statement)
Advance Tax Payment Receipts (if applicable)

Process Timeline

Prepare Financial Statements

Gather the LLP’s financial statements, including profit and loss accounts, balance sheets, and other income-related documents.

Calculate Taxable Income

Determine the LLP’s taxable income after accounting for business income, expenses, and eligible deductions under the Income Tax Act.

Choose the Right ITR Form

LLPs must file ITR-5, the form for partnerships, LLPs, and other similar entities.

Pay Any Due Tax

If there is any outstanding tax liability, it must be paid before filing the return.

File the Return

Submit the ITR-5 form electronically through the Income Tax Department’s e-filing portal.

E-Verify the Return

Complete the filing process by e-verifying the return using Aadhaar OTP, net banking, or by sending the signed ITR-V to the CPC.

Find the Perfect Fit for Your Budget

Choose from our range of flexible pricing options that cater to your specific needs.

₹4,999

Basic Plan

A brief description goes here

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Filing of ITR-5 for Limited Liability Partnerships (LLPs).
Preparation and submission of profit and loss statement and balance sheet (basic).
Reconciliation of business income with bank statements and books of accounts.
Calculation of taxable income and tax liability.
Filing of TDS details (if applicable).
Support for deductions under relevant sections (80C, 80D, etc.).
Email support for queries related to filing.
Turnaround Time: 3-5 working days.

₹7,999

Standard Plan

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Filing of ITR-5 for LLPs with multiple income sources (e.g., business income, rental income, capital gains).
Comprehensive preparation of profit and loss statement, balance sheet, and cash flow statement.
Reconciliation with books of accounts and bank statements for accuracy.
Calculation of taxable income, tax deductions (if applicable), and tax liability.
Guidance on advance tax payments and generation of payment challans.
Filing of TDS returns for LLPs, if required.
Email and phone support for queries related to tax filing and compliance.
Turnaround Time: 2-4 working days.

₹12,999

Pro Plan

A brief description goes here

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Filing of ITR-5 for LLPs with complex income structures (multiple business sources, foreign assets, or liabilities).
Detailed preparation of profit and loss statement, balance sheet, and cash flow statement.
Thorough audit of books of accounts for accurate tax reporting and compliance.
Calculation of capital gains, business expenses, and taxable income.
Assistance with advance tax payments and income tax planning.
Tax optimization strategies, including deductions under Sections 80C, 80D, 80G, etc.
Reconciliation with Form 26AS, AIS, and TDS records for accurate filings.
Filing of TDS returns for multiple business entities within the LLP (if applicable).
Tax advisory consultation for optimal tax planning for the next financial year.
Priority support for handling any notices or tax-related queries.
Turnaround Time: 1-2 working days.

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