Can a Limited Liability Partnership-LLP file the income tax returns as per section 44AD? - Professionals - Taxation - TIK Share
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Can a Limited Liability Partnership-LLP file the income tax returns as per section 44AD?


Rahul Rai

2014-04-03

Can a LLP file its Income Tax returns using form ITR 4S by availing the benefits of section 44(ad)?

Rakesh Bharadwaj

2014-04-03

No. Sec 44AD is not applicable to LLPs, hence cannot use ITR 4S. U should use ITR 5 or ITR 3

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CA Pulkit Sharma

2014-04-03

Section 44(ad) provides special provisions for computing business profit on presumptive basis from the assessment year 2011-12.

Conditions - The provisions of section 44AD are applicable only if the following conditions are satisfied-

  1. Eligible Assessee - The assessee should be and eligible assessee. Eligible assessee for this purpose is person resident in India who is individual, a Hindu Undivided family or a partnership fir, (not being a limited liability partnership-LLP)

The first condition itself disragard the LLP from benefits. LLP can not file returns by taking benefits of section 44(AD).

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Mukesh Jain CA

2014-04-03

Sec 44AD is not applicable to LLP.

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