Handbook on Taxation of Partnerships, Firms and Limited Liability Partnerships is a question-and-answer treatise on the taxation of Partnership Firms and LLPs, recalibrated for the Income-tax Act 2025 with continuous cross-referencing to the erstwhile 1961 Act. Commissioned by AIFTP in its golden jubilee year, the Second Edition resolves 437 questions across 24 chapters, traversing the full commercial and tax life of a firm—from formation and partner-level economics through reconstitution under Sections 8 and 67(10), conversion, prosecution, stamp duty, GST, the four new Labour Codes, and assessment of AOPs and BOIs. Every 2025 Act provision is paired with its 1961 Act counterpart in the running text, and Supreme Court, High Court and ITAT authorities are carried forward in keeping with Section 536(2)(j). Reinforced by 13 specimen deeds, three worked case studies computing capital gains under Sections 8, 67(10) and 72(5) read with Rules 6 and 50 of the Income-tax Rules 2026, and the bare texts of allied legislation, the volume serves as a self-contained desk reference for Chartered Accountants, Advocates, in-house counsel, departmental and judicial officers, and academics.