Yes, the profit earned by a Limited Liability Partnership (LLP) is taxable under the Income Tax Act, 1961. LLPs are treated as separate legal entities, and their income is taxed at a flat rate of 30%, plus applicable surcharge and cess. LLPs do not benefit from the lower tax rates applicable to companies. Additionally, LLPs are not subject to the Dividend Distribution Tax (DDT) that... https://www.solubilis.in/llp-registration-in-bangalore.php