Partner Remuneration Calculator: Limits, TDS Rules & Interest
Partner Remuneration Calculator: Limits, TDS Rules & Interest on Loans Explained When structuring compensation in a Limited Liability Partnership (LLP) or traditional partnership firm, partners may receive remuneration, capital interest, loan interest, and profit share. However, to claim these amounts as allowable business deductions under the Income Tax Act, specific conditions must be met. This article serves as a complete guide on how to use a Partner Remuneration Calculator effectively—covering the latest tax limits, TDS provisions, and the treatment [...]
LLP Annual Compliance in India: A Complete Guide for 2025
LLP Annual Compliance in India: A Complete Guide for 2025 A Limited Liability Partnership (LLP) combines the operational flexibility of a partnership with the legal identity and limited liability of a company. While it enjoys reduced compliance compared to private limited companies, LLPs are still subject to a set of annual compliance obligations under the Limited Liability Partnership Act, 2008 and Income Tax Act, 1961. Non-compliance can result in significant financial penalties and legal complications. This article provides a [...]
E-Way Bill Login Problems and How to Fix Them
Top 8 Common Problems During eWay Bill Login and How to Fix Them Introduction to eWay Bill Login System The eWay Bill System is an integral part of India’s GST framework, designed to track the movement of goods. It helps ensure transparency, prevent tax evasion, and simplify logistics operations. However, accessing the portal isn't always smooth. Users often encounter technical glitches, login errors, and system issues that can delay important filings and disrupt business operations. That’s why understanding the [...]
Partner’s Remuneration Under Section 40(b): Complete Guide
Partner’s Remuneration Under Section 40(b): Complete Taxation Guide In the realm of Indian partnership firms, partners often contribute more than just capital—they bring in expertise, management skills, and strategic direction. To compensate for these contributions, firms provide partners’ remuneration, encompassing salaries, bonuses, commissions, and other forms of payment. Grasping the nuances of its calculation and taxation is pivotal for both partners and firms to ensure adherence to tax laws and optimise financial planning. This provision also presents a valuable [...]
LLP Registration for NRIs and Foreign Nationals in India
Can Foreigners Register a LLP in India? A Complete Legal & Compliance Guide India continues to be an attractive destination for global entrepreneurs and businesses. With its liberalized FDI policies and simplified corporate structures, incorporating a Limited Liability Partnership (LLP) in India has become a viable entry strategy for foreign nationals and foreign companies. In this guide, we explain the legal framework, eligibility, regulatory requirements, and compliance obligations for foreigners planning to register a LLP in India. Is It [...]
Professional Tax in Assam – Rates & Filing Guide
Professional Tax in Assam – Rates, Registration & Filing Guide What is Professional Tax in Assam? Professional Tax (PT) in Assam is a state-imposed tax governed by the Assam Professions, Trades, Callings, and Employments Taxation Act, 1947. It applies to both salaried individuals and self-employed professionals, including businesses, traders, and certain specialized professions. PT is collected by the state government and used for public welfare and administrative functions. Who is Liable to Pay Professional Tax in Assam? Professional Tax [...]
