Question

How much tax do I pay in a partnership?

Answer 1

Income Tax is paid at a flat rate of 30% on Partnership Firms and Llp. Calculation of charges according to Income Tax Slab Rates isn’t permitted as the advantage of Slab Rates is simply accessible to Individuals and Hufs.

Also check:

• MCQs on Partnership
• What Is Partnership?
• Difference Between LLP and Partnership