https://www.taxtmi.com/article/detailed?id=11107 LLPs are treated as firms for income tax purposes and may be partners in other partnership firms; therefore, where the payor firm is separately assessed, the LLP's share of profits qualifies for exclusion from its total income under the partner's share exemption and is not taxable again in the hands of the LLP. en-us Tue, 14 Feb 2023 12:52:14 +0530 Tue, 14 Feb 2023 12:52:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11107 LLPs are treated as firms for income tax purposes and may be partners in other partnership firms; therefore, where the payor firm is separately assessed, the LLP's share of profits qualifies for exclusion from its total income under the partner's share exemption and is not taxable again in the hands of the LLP. Articles Income Tax Tue, 14 Feb 2023 12:52:14 +0530 https://www.taxtmi.com/article/detailed?id=11107