Monday, July 13, 2009

Can LLP be taxed under Sec. 44AD?

As per budget 2009, LLP are not eligible to get taxed under Sec. 44AD (New Section). This new section is effective from Asst. year 2011-12 only.

LLPs formations are allowed in the FY 2009-10.Then, How LLP will get taxed in the Asst yr. 2010-11? Will they can claim the Sec. 44AD option (Old section)?

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