Virtual CA - Expert Financial Services, Tax Filing, and Accounting Solutions

Income Tax

Income Tax Return (LLP)

Income Tax Filing for LLPs ensures timely compliance with income tax laws for limited liability partnerships. We provide comprehensive services for preparing and filing ITR-5 for LLPs, including tax computation, deductions, TDS reconciliation, and financial statement preparation. Our experts handle complex tax calculations and ensure accurate filing, helping LLPs minimize tax liabilities and avoid penalties. We also provide expert guidance on tax planning and compliance to help you make informed financial decisions. Let us handle your income tax filings professionally while you focus on growing your business and managing operations effectively.

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Services Included

Preparation & Filing of ITR-5 for LLPs
Computation of Taxable Income & Tax Liability
Adjustment of Business Deductions & Exemptions
TDS Reconciliation & Advance Tax Computation
Preparation of Balance Sheet & Profit & Loss Account
Guidance on Tax Planning & Compliance Advisory

Services Excluded

Filing of GST Returns (available separately)
Tax Audit & Certification (mandatory if turnover exceeds ₹1 crore)
Representation in Income Tax Scrutiny or Appeals
Bookkeeping & Accounting Services (available separately)

Documents Required **

PAN & LLP Incorporation Certificate
LLP Agreement & Partner Details
Bank Statements & Financial Records
Balance Sheet & Profit & Loss Statement
TDS Certificates & Advance Tax Payment Proof (if applicable)
GST Filings & Other Tax Compliance Details (if applicable)

** Documents listed are indicative. Specific requirements will be provided during execution based on your profile and service scope.

Benefits

Avoid Late Fees & Penalties – Timely ITR filing prevents fines and legal issues
Maximize Tax Savings – Claim deductions & exemptions to reduce tax liability
Ensure Compliance with IT Laws – Meet all tax filing requirements under the Income Tax Act
Hassle-Free Filing & Documentation – Experts handle complex tax calculations
Accurate Tax Computation – Minimize scrutiny risks by accurate tax assessment
Strengthen Financial Credibility – A filed ITR helps with bank loans and investor confidence

Who Should Buy

All LLPs registered under the Companies Act requiring tax compliance
Startups & Growing LLPs looking for hassle-free tax filing
Businesses needing tax-saving strategies & deduction optimization
LLPs applying for loans, investor funding, or financial approvals
Firms looking to avoid penalties due to delayed ITR filing

Turn Around Time (TAT)*

Initial Consultation & Document Collection: 2-3 working days
ITR Preparation & Review: 5-7 working days
Filing & Acknowledgment Receipt: 7-10 working days

* TAT is indicative and depends on timely and accurate data. No liability shall arise for delays caused by data lapses, regulatory changes, system disruptions, or circumstances beyond control.

How it's done

Step 1

Consultation & Data Collection

Step 2

Tax Computation & Deduction Adjustments

Step 3

Preparation of ITR-5 & Verification

Step 4

Filing of Income Tax Return

Step 5

Confirmation & Compliance Advisory

FAQs

Which ITR form is applicable for LLPs?

LLPs must file ITR-5 under the Income Tax Act.

Is it mandatory for LLPs to file an ITR?

Yes, even if an LLP has no income or is in loss, it must file a return.

What is the due date for LLP ITR filing?

Non-Audit LLPs: 31st July, Audit Cases (Turnover > ₹1 crore): 30th September.

Is tax audit mandatory for all LLPs?

Yes, tax audit is required if turnover exceeds ₹1 crore (₹10 crore for digital transactions).

Can LLPs claim deductions in ITR?

Yes, deductions like business expenses, depreciation, and partner remuneration can be claimed.

What happens if the ITR is not filed on time?

A late fee up to ₹10,000 applies, along with interest on unpaid taxes.

Can a company file a revised ITR?

Yes, companies can file a revised return before 31st December of the assessment year.

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What our clients say

The team provided exceptional financial advice, helping us streamline our tax filing and improve our compliance. Their knowledge and timely support exceeded all expectations.

Their expertise in tax planning and advisory has been invaluable in helping us optimize our financial strategy. We are grateful for their proactive guidance and professional service.

Their timely advice and professional approach have been instrumental in navigating complex tax filings and optimizing financial outcomes for our business.

Our experience with this firm has been excellent. They have provided valuable insights on financial planning and have always been available to address our concerns.