NEW LLP TAX RULES WILL APPLY FROM NEXT FISCAL
Vivek Seal,
DNA
The ministry of corporate affairs on Wednesday said the new taxation policy, being framed in consultation with the ministry of finance, for limited liability partnerships (LLPs) would be active from next fiscal.
The LLP Act has already been passed and the process for registrations has started with the corporate affairs ministry focusing on e-governance system to push the registry services.
"Well, it is becoming operational. It is basically the e-stamping, which will, I think, be a major impetus for registrations to become easy. There are tax issues, which for the present we have to go with, but we hope the next year onwards, a fresh look to tax regimes can be made for LLP," corporate affairs minister Salman Khursheed told DNA.
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